How your laziness costs you money
By Jason Buckland, Sympatico / MSN Finance
Since the dawn of time, laziness has been the ultimate no-no.
In Christian mythology, sloth was one of the seven deadly sins, its transgressors fed to the hissing snake pits of Hell. Benjamin Franklin once famously derided the sluggish by saying, “The sleeping fox catches no poultry.” Indolence was also the premise for the positively awful Slackers, a movie so bad it singlehandedly delayed Jason Segel’s rise to fame by five years.
But for all my self-admitted lethargy, I never took the time to properly evaluate how much cash it might be costing me. Why, you ask? Because I’m lazy. (I thought we just covered that.)
In any case, Forbes has done a nice job assessing just how your laziness is losing you money, and some of the suggestions might leave you wanting to kick yourself.
The best part of the list is that all the proposals are modest. For example, by simply hopping online for two minutes to pay off your credit card (or at least the minimum amount), you’re saving the late fee which, according to indexcreditcards.com, amounts to about a $34.09 penalty.
How about your savings account? Most of us are pretty content with our TDs or CIBCs or Scotiabanks because we’ve been with them for years. They’re real places with real people we feel comfortable going into and having them lose our real money. We’re fine with this. But, as has long been known, traditional banks only offer so-so interest rates on your savings.
According to Forbes, the best rate you can get at a conventional bank is about 0.75%, while new Internet banks like EmigrantDirect or Doral Bank Direct (or Citizens Bank in Canada) can get you as much as a 2.25% annual return. “May not sound like much,” says the article, “but it all adds up. On a $100,000 principal, compounded monthly for five years, the higher interest rate yields an additional $8,000.” Yeah, not many of us have a crisp 100 G’s laying around, but you get the point on the merits of shopping around.
The list kicks it up a notch for a few entries, too, showing what you can get for a little more aggressive haggling. Most of us are too complacent or uninterested to barter on the day-to-day stuff we buy, but that doesn’t mean we should ignore everything. We all know Rogers or Telus is likely to shed a few bucks off your monthly cable/cell phone bill if you wrangle a bit with their retention department, yet Forbes suggests this approach can now apply to larger-scale purchases: “Landlords? They’re ready to negotiate, too, especially in this nasty real estate market.”
Anyhow, make sure you check out the rest of the list for some pretty handy tips. That is, unless, you aren’t reading this anymore because you got tired five minutes ago and closed your browser.
Regardless of how you choose to approach your own sloth, just make sure you don’t regret anything down the road. You know, kind of like the way I bet the auto industry regrets Walter Chrysler ever saying this:
“Whenever there is a hard job to be done, I assign it to a lazy man. He is sure to find an easy way of doing it.”
Uh, guessing you might want a mulligan on that one, Walt. All things considered.
Posted by: Terry Johnston | Jun 25, 2021 12:38:54 PM
I plan to post a comment when I get around to it.
Posted by: Neil shandro | Jun 25, 2021 1:19:00 PM
Do send your article to the people of Iceland- particularly, those who followed this advice from Icesave and Byr or the investors in The UK and the Netherlands,who also followed Icesave, and wait for their replies.
Neil Shandro
Reykjavik, Iceland
Posted by: AJP | Jun 25, 2021 2:55:53 PM
meh..................I'll read this later......
Posted by: Sloth Master | Jun 25, 2021 4:39:42 PM
Sloth is not a sin, it's all combined supposedly. Being a workaholic is just as stupid in terms of no fun and being greedy is even worse like a kid keeping all the toys in a playpen. Of course in Asia, no problem without as much greed.
For real if sloth was a sin, Fort Loderdale is a goner and spots like Quebec (CA), France and Spain are lost to sloth and fun. Is GBush going to hell for the war in Iraq and elsewhere because I Shalt not Kill is the 10 commandments and was ignored after the next coming war of Isreal and elsewhere.
If you do not want your boss to overwork the lot of your, fib a bit and say your all doing to much.
Posted by: Tim Robbins | Jun 25, 2021 5:06:24 PM
Why didn't Wall Street follow this way of thinking? Now it's too depressing to think about.
Posted by: Nitty | Jun 25, 2021 5:08:17 PM
I predict better times ahead; but when nodoby can answer right now.
Posted by: JOhn R | Jun 25, 2021 5:41:30 PM
I don't see the rocket science here? Pay your bills on time, no service charges - d'oh! Investigate where to put your money (no matter how little or large). Learn, be informed. MAnage your money. God, I sound like an add for IMNG, and even they aren't the best option.
Posted by: Frank B. | Jun 27, 2021 5:17:08 PM
Hey, if someone chooses to be lazy, that's fine. They just better not expect others to help pay their way for them because it ain't gonna happen, at least I won't. You certainly won't get any respect if you choose to be lazy. The only reason why I can't work is because I've got a personal disability that makes it next to impossible to keep work. But I don't see how someone can "lose" money by being lazy. Of course, someone certainly won't make anything but how do they lose?
Anyways... that's just my scoop.
Posted by: Ghazala Bilqees | Jul 5, 2021 6:57:50 AM
You must not be lazy to help a human in need of your true assistance ,however if you tend to be workoholic just to please your boss ,even if that gives you money is really Stupid .You lose health that no money can buy .Health is one of the blessings of Allah (God).There should be a balance of your Spiritual and Worldly life and all personal home duties and job duties You have to design in such a fashion that no one gets hurt ,and remember You don't have to hurt yourself as well.That means You have to create Harmony