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procasturbation 

"Procasturbation cost me an A in the class"

"I'm procasturbating this paper."

Procasterbating

The act of masterbating instead of doing something important. (ie. homework)
Jim: Instead of doing that project, I was procasterbating.

Me: ZOMG me too!
Procasterbating by bob mcd June 16, 2007

procasturbate 

to masturbate, so to put doing something off, like cleaning the dishes, or meeting the neighbours.
"For fucks sake Gerald, stop procasturbating and come meet Ada next door."
procasturbate by Biafra J July 26, 2004

procastination

"I'll tell you the example later." is an example of a procastination.
procastination by procastinater December 23, 2011

procastibate 

v. 1) stimulating one's own genitals to avoid work or obligation. 2) delay of action while masturbating.

derivatives:

procastibation, noun
procastibator, noun
procastibating, verb
procastibatory, adjective
"I had a ton of reading to do but after seeing that commercial with Jane Seymour in it, I decided to procastibate instead."

procastination

Activity that consists in putting off important activities regadless of its importance due to lazyness or incompetence. The individual that procastinates usually just doesn't feel like getting the activity done and postpones it for a later date, always being able to find a perfect justification for doing so.
dude 1: hey dude, I really have to get this paper done today but what the heck!! I have enough time to do it tomorrow, it's a cakewalk... let's go look for some party!

dude 2: Dude, you are the master of procastination!!
procastination by Mariotol November 26, 2007