Are you willing to pay the cost of disorganization?Fiscal Fitness Clubs of America
Here’s some more motivation to complete your January challenge of getting organized:
Average late fee for a bill: $25
Extra interest on late credit card bills: $20
Lost gift card/discount card: $25
Missing return receipt: $50
Failure to cancel by deadline: $50
Missed conference registration deadlines: $75
Late airfare purchase: $100
Missed rebate request:$15
Lost warranty repairs/missed extended credit card warranty: $100
Missed deadline for reevaluating insurance: $100
Failure to file claims: $30
Missed coupons: $5
Failure to cancel Dr. appointment/lesson/tutoring/etc.: $50
Do all of these 3 times in a year and they equal to $1,935 a year! That’s a lot of vacation!
Sure, you might not do all of those three times a year. Some things you will do less, and others you may be guilty of a lot more often. The point is that it costs money, and it really can add up. Late credit card payments can impact your credit score, which can cost you approximately $67,000 over 20 years.
Now let’s think about time wasted: The Wall Street Journal published a study indicating that the average employee wastes nearly 6 weeks a year looking for information in their office. We haven’t found a study on homes, but we bet it’s at least half! Since financial planners tend to be the organized ones in marriages, we think we spend that much time at least looking for our partners’ glasses, keys and cell phone, let alone the mayonnaise is (IN THE REFRIGERATOR!!!!!), but that’s another issue!
The point is that being organized could save you 3 weeks a year and enough money to enjoy those three weeks! Does that motivate you? You may have to give up one of those weeks getting and staying organized, but heck, 2 weeks is pretty good!
The other upside to organization is reduction in stress, which improves clarity of thinking. Being organized for when life throws you curve balls, so you’re prepared, is beyond quantifiable value. If you’ve been procrastinating on your paperwork management success plan for this month, think about this:
You will most likely save somewhere between 2 weeks and $1,500. Hmm…a week in the sun in January? To us, this sounds well worth the time it will take to get organized. How about you? If you’re a club member, the guide to filing and financial organization is in your classroom and your permanent secure cloud folder. Your coach can help if you don’t know where to file or when to toss a document. So, be like NIKE and just do it!