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January 2011
From The Director

Greetings,

It's the time of year that people make resolutions to achieve all of the goals that they've been putting off.  One specific area in which delays have quantifiable side effects is financial procrastination.  This month's article addresses the pitfalls of such procrastination, and the importance of taking immediate action.

As always, we welcome your feedback.  If you have any questions, or would like additional information, please do not hesitate to contact your financial advisor.  Should you not currently have an advisor at Select, please reply to this email and one of our senior consultants will contact you promptly.
 
Best Regards,

Imants Katlaps


Managing Director
Article

FINANCIAL PROSCRASTINATION

It is well known that procrastination in any form can negatively impact our lives.  Financial procrastination, however, can have particularly devastating effects in both the short and long term.

  • Neglecting financial obligations

In its most general form, neglecting simple financial obligations such as paying bills in a timely manner can add up to a much more significant financial burden.  For example, a credit card bill not paid on time will incur such added fees as interest and late charges.  An unpaid or tardy utility bill may cause termination of service, at which time, in addition to those late payment charges, you may be obligated to pay a reactivation charge.  The cost of procrastination in these terms has a domino effect.
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