Americans spend 15 hours a week procrastinating

Our counterparts across the pond are falling behind when it comes to solving issues and getting key jobs done. New research shows Americans spend an average of 15 hours a week procrastinating.

Over the course of a working life, that adds up to five years putting off important tasks, according to a survey by OnePoll on behalf of Fidelity Investments.

When asked how they spend that time, the majority of American adults said browsing the web was their biggest productivity block, followed by binge-watching TV shows, watching films and taking naps.

More than a quarter admit to procrastinating when it comes to dealing with a big issue. Nearly half (43%) wait until the last minute before stressing themselves out and completing a task at the very last opportunity.

The chore more than half (55%) of respondents put off is making an important financial decision, such as creating a budget, saving for retirement, or paying bills on time. 30% have put off ending a romantic relationship, with one third of those procrastinating breaking up with someone even though they’ve known things weren’t working for six months.

Top 10 things people put off doing the most:
1 Cleaning/laundry/home maintenance
2 Exercising/working out
3 Making a doctor’s appointment
4 Answering emails
5 Starting a diet
6 Paying bills
7 Creating a budget
8 Saving for retirement
9 Getting car maintenance completed
10 Doing taxes.

And all of this procrastination is getting Americans in trouble. 52% have experienced a negative consequence for delaying a decision, with 20% saying it has damaged their relationships and 20% getting late bill payment notices.

“When it comes to your finances, procrastination can come with serious consequences,” said Ken Hevert, Senior Vice President of Retirement at Fidelity Investments. “For example, when it comes to retirement planning, saving early gives you the ability to leverage the time needed to grow your money and benefit from compounding interest. Even saving in small amounts now can make a real difference in what you’ll have in your retirement account.”