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Your Take: What Have You Been Putting Off?

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You never need more than one checking account. I have two and for the last year or two, as I’ve moved slowly towards simplifying our finances, closing the second checking account has always been on my “To Do” list but has never been scratched off. I’ve closed plenty of online savings accounts, like HSBC Direct and FNBO Direct, but not this checking account because it’ll require me to go into a branch.

What has it cost me? There are a few hundred dollars in the account, let’s say it’s around $500, and if you assume 2% interest (high yield savings accounts have been at most 2% in the last two years), it has cost me around twenty dollars. Twenty bucks isn’t a ton of money but I’d rather have it in my pocket than the bank’s!

What have you been putting off? Maybe it’s getting your emergency fund off the ground or rolling over a 401(k) into an IRA or perhaps it’s just setting up a CD ladder… but there has to be something, money-related, that you’ve been putting off for one reason or another?

{ 33 comments, please add your thoughts now! }

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33 Responses to “Your Take: What Have You Been Putting Off?”

  1. Eddie says:

    We keep putting off a will. We’re hoping to have kids within the next few years, and I keep letting that be an excuse “oh, we’ll just have to change everything next year to make sure the little one is taken care of”, but of course that’s a dumb way to handle it. Things won’t magically take care of themselves for my wife if I get hit by a bus today.

    Maybe typing all this and telling the world will be motivation for me to get it done. Which, i suspect, is what you hoped to do here, Jim?

    • Anonymous says:

      Do it now! When you have a baby, you’ll be too busy or too tired. You can always include language to the effect of “In contemplation of the birth of our child,” so that the will should remain in force after the life-changing event. You can also use language like we bequeath “the rest and residue of our estate to our children in equal shares.” Talk to a lawyer about how to write the will so that works for you and will be effective after the birth of your child(ren).

  2. Miranda says:

    Sadly, I am still waiting to “upgrade” to a high deductible health plan so that I can open a HSA. I’m waiting to see if my husband gets the job he’s applying for. If he does, we’ll just sign up for a HDHP at the new job. But I’ve been putting it off for five months, and I should just do it and get it done.

  3. Kat says:

    After three years with my current company, I *finally* enrolled in the 401(K) last month. I want to kick myself for not doing so on day one. Next step, open another savings account.

  4. saladdin says:

    Only 75% serious but marriage and kids.
    I wish others would put as much thought into it.


    • Jim says:

      Are you thinking about it or just putting off thinking about it? 🙂

      • saladdin says:

        Just not for me. Kids either. Same girlfriend for 7 or so years but I’m 35, too old to change. I don’t get lonely, ever, and the idea of dying “alone” has no affect (or is it effect?) on me.


  5. billsnider says:

    One thing I did not put off was retirement. I went out at 62!

    Nothing else matters.

    Bill Snider

    • Shirley says:

      I DID put that off until 65 because that was our family health insurance. Retirement was my birthday party and we’re still having a wonderful time. 🙂

  6. cdiver says:

    Making what I am worth.

  7. Harsh says:

    Refinancing our mortgage.

  8. zapeta says:

    I’ve been putting off closing a savings account that has less than $2.00 in it. I’d rather have the money instead of the bank but I just haven’t had the time during the day to call them.

  9. Shirley says:

    I’ve been putting off having an automatic monthly withdrawal from checking to savings because I just don’t like the idea of anybody else having access (however small) to my checking account. I do it manually and have honestly considered the pros and cons, but just haven’t reconciled myself to this yet.

  10. We’ve been putting off our will and choosing a guardian for our kids in case something happened to us both. It’s not a fun decision or process but something that has to get done.

    • otipoby says:

      Your not kidding (pun intended). The decision of guardianship is what is keeping my wife and I from having a will. This feels like such a huge decision for us and the guardian.

      • This is very true … but do you want a court to make this decision after you die? It’s definitely a huge decision, but you need to bite the bullet and do it.

        This was actually the main reason why my wife and I had our wills drawn up. Our first child was due, and we wanted to make sure our wishes would be followed.

    • cubiclegeoff says:

      I’m in the same position. We have the will drafted though, we just need to make some changes and pick a guardian.

  11. Martha says:

    Fixing a patch in the wall. Tried to fix it before but my caulk was dried up, then never went to buy more 🙂

  12. daenyll says:

    delaying some routine checkups until I find a permanent job later this year and get some better health insurance, currenty covered but just basic high deductible in case of emergency. Also could use an upgrade on my prepaid cell service, would really like a smart phone but I’m making due until I’m sure I can afford the extra utility.

  13. Jackie says:

    I have to second the will and advance directives. We have no excuse-my husband is an attorney and could draft these himself!

    Also, we’ve been putting off “the talk” with our aging parents. These days, it’s quite possible that adult children could end up footing the bill for long-term care for elderly parents. Yikes! That’s not exacltly how I planned on spending my 401(k)…

    • Shirley says:

      The talk will probably be easy once you broach the subject because they have already accepted their ages and limitations, though maybe not by choice. There are many in-home programs to help the elderly stay at home and take care of one another.

  14. Linking my wife’s retirement plans with mine under one account, so I can view and manage them all at the same time. I’ve got the paperwork printed, but I just haven’t found the time to fill it out and send it in.

    I’d like to build a CD ladder for our EF, but I haven’t got around to that one either. Maybe this weekend?

  15. javi says:

    I have been putting off creating a list of what my family should do if I pass away. Currently, my financial file system is a mess and I need to clean it up.

  16. ebekele says:

    I have been putting off finishing a business plan.

  17. Wilma says:

    Going paperless and setting up bill pay on my lap top, saving more money, closing one of my checking accounts, getting to the dentist, opening a Roth IRA, Getting more clutter out the door, sewing projects, getting an outdoor antenna set up so I can watch TV, upping my 401K contribution, setting up a will, refinancing my mortgage, home improvements, yard work………………..Wow. Now that I see what I’ve written, I think I need to make some adjustments on my life too. Better prioritizing maybe? =)

  18. I have a 403b with my previous job. I am not required to transfer it over since the company was fine with keeping it with them, but I really need to transfer to my current plan. I really need to switch it over just for the fact that I have another account open that I have to keep track of. I keep holding it off since I’ve been lazy with looking up the rules with transferring a 401k plan to a new company.

  19. KimmyBlue says:

    I’ve been putting off selling things on ebay and/or Craigslist – I have a bunch of STUFF that I don’t use anymore that is taking up extra space AND not earning me interest (if I had converted it into cash). I need to get on top of that, stat!

  20. khaveman says:

    Thanks to great financial websites like this one, I’ve set up automatic savings transfers, gotten a high-yield savings, set up a Roth IRA and upped my 401(k) contribution. I need to build my savings balances and have been putting that off. Also there is the big one, always lurking, PAY OFF DEBT. There is still much to do.

  21. cubiclegeoff says:

    I’ve been putting off taking a directory of all our things in our house for insurance purposes. Also, I have some credit cards that have low limits and aren’t that old that I just don’t want or need (and I have no plans for getting a loan anytime soon), so I want to cancel those at some point.

    • ziglet19 says:

      Ughh, I’ve been putting this off so long, I actually forgot about it until I saw your response. Definately something I need to get done.

  22. Daniel says:

    Increasing my life insurance. Met with my rep a year ago, planned on adding, just never got around to it. I’ve had two kids since I first bought life insurance, so I definitely should add to it now.

  23. eric says:

    Definitely simplifying my finance. Things like changing due dates to coincide with each other…I just keep putting it off. Ugh.

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