It's been reported that procrastination is on the rise. Not only that, but it makes people poorer, fatter, and unhappier too.

It took 10 years of research when it was projected to take only five years -- procrastination at its best -- to come to this conclusion. And now Canadian industrial psychologist and University of Calgary professor Piers Steel is talking about his giant 30-page study that appears in this month's Psychological Bulletin.

Something must be done about this problem, says Steel, who reveals 26 percent of the American public consider themselves chronic procrastinators. This is up from five percent in 1978 and is likely due to the tempting diversions facing us in this day and age -- TVs, cell phones, video games, iPods, the Internet, and Blackberries.

It's no surprise with such temptations that a quarter of Americans say they procrastinate. When it comes to the sexes, men are worse than women -- about 54 out of 100 chronic procrastinators are men -- and the young are more like to procrastinate than the old. Three out of four college students consider themselves procrastinators. And it seems perfectionists procrastinate less because they don't like to delay.

Steel says procrastination wastes time. And it's costly too.

"The U.S. gross national product would probably rise by $50 billion if the icon and sound that notifies people of new e-mail suddenly disappear," he said.

Steel found a delay in filing taxes on average costs a person $400 a year. Last-minute Christmas shopping with credit cards was five times higher in 1999 than in 1991. Clearly, procrastination is expensive.

Procrastination also has physical and emotional costs. Procrastinators tend to be less healthy, less wealthy, and less happy. They are also harder to heal of their problems than alcoholics.

Steel, who plans to one day compare the procrastination practices in various countries and cultures, says his field has benefits. The more he knows about the problem, the less he indulges in delay tactics. He did, however, acknowledge that his study was completed five years late. But what he likes about this study is this -- "If you take a day off from it, you can always say it's field research."