| By Lorie A. L. Nicholas |

Did you know that approximately 40% of people experience financial loss due to procrastination (Gura, 2008)?

Think about it.  How many times have you said, or heard someone you know say that they are going to get around to paying their bills before the deadline, or they are going to pay their taxes early this year ?  What happens, they end up paying their bills last minute, or late, which may result in penalty, late fees, or both.

In 2014, vow to end procrastination when it comes to management of your money.  We can’t afford the consequences of financial procrastination.  This will only lead to late fee payments, and penalty or interest charges for late payments.  Make a commitment to yourself that 2014 will be the start for you to Get Your Money Right.  Commit yourself to Start Strong, Stay Strong and Finish Strong.

If you have been putting off organizing your finances or taking care of other financial matters (retirement plans, living wills and trusts), make a promise to yourself and your family that in 2014 you will take steps to take care of these family financial matters.  Stay tuned for future articles that will address these financial matters.

Below are five steps to creating your 2014 Game Plan.


Think: Take a few minutes now to think of your 2014 New Year Financial Resolutions.

Write: Write down at least five financial goals that you will work on this year.

Prioritize: Prioritize your financial goals in the order of most importance.

Organize: Organize and arrange how you will work on your first financial goal.  Plan out whether you will work on your goal each day or each week.


Lets’ Get Busy.  To avoid the temptation of procrastination or falling off track, enlist the help of a family or friend. Family members and friends who would be an excellent accountability partner and hold you to fulfilling your goals.  Sometimes we need that extra support to stay on course.


For those of you who can’t think of any financial goals to fulfill at this present time, I challenge you to take the 2014 Financial Challenge to build up your savings on $2 a day.  That’s right, just $2 a day.  It may not sound like a lot, but do the math.  If you are consistent and committed to this goal, then by December 31, 2014 you will have $730 in your account.  If for any reason, $2 a day is a bit of a financial stretch, then go with what you can consistently afford.  If you can do 50 cents a day, then at the end of the year you would have accumulated $182.50.  Just the fact that you remained consistent in saving this amount of money should make you proud of yourself.  If you’re up for a bigger challenge, go for $5 a day (or more).  $5/day will amount to $1,825 by the end of the year.  Whichever challenge you decide to pursue, the main component is that you TAKE ACTION- JUST DO SOMETHING.  Keep reading The Harlem Times for articles mid-year and the end of the year that will check on your progress.

As we welcome in 2014, Congratulations to your New Year, New You Commitment.  Celebrate each day of your $uccess as you Get Your Money Right.