Why do people procrastinate?

There is a psychological mechanism behind procrastination, which states that we primarily rely on our self-control and motivation levels to push us to do the task at hand in time. However, factors like anxiety, fear of failure, exhaustion, and long-term rewards tend to cause hindrances and end up demotivating us when we need to perform. If this cycle persists for a long time, it can have a detrimental effect on our psyche, which will surface as depression, difficulty in functioning in society, etc.