While the vast majority of Australians are concerned about their financial future, it seems many of us are not in a hurry to do anything about it and our brains might be partly to blame.
According to the Suncorp Cost of Procrastination Report, two thirds of Australians procrastinate about making financial decisions, despite 85 per cent being concerned about their financial future.
The top dawdling activities include establishing a budget, savings plan and prioritising expenses into needs versus wants, and Suncorp Behavioural Economist, Phil Slade, said this is somewhat due to the way our brain works.
"Managing our finances is actually very emotional, even though we approach them with very rational thinking and use unemotional tools like spreadsheets," he said.
"The simple act of looking at our finances conjures a variety of feelings - confusion, disappointment and even fear of the future. As our brains are hard wired to avoid pain, we become naturally resistant to any money-related tasks.