🎂  Age?

28

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🌎  Location?

London

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🫥  Source ?

Anonymous

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💸  Debt balance?

£9,000

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👂 What will you be sharing?

Spending regret story

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📖  What would you like to share?

"My biggest regret was not acknowledging the cycle that had been created. My credit cards become almost an extension of my current account. If I wanted a takeaway, wanted extra clothing or even just to cover basics I would just use my credit card until it snowballed during covid. In that time it became almost habitual purchases through lockdowns for things I just couldn’t afford. Although I have the regret of getting into this position I am positive I can make the change to get to a place of no debt before I am 30 as I am acknowledging these issues and looking for a solution rather than perpetuating the debt cycle."

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❓ What happened for you to be in your current debt situation?

"I got a credit card when I went to uni thinking it would help my credit score but it just became a second source of funds which I continued to behave like even till recently. I used it to buy food, clothing, everyday items but then also big purchases and I realized that I had created a situation where my paycheck was basically getting an extra tax on top, a debt tax. I was always going to use the card because I was also about £300 to £400 worse off each month trying to pay it back. The biggest struggle now is trying to stabilise each month's pay to ensure I get the payments out so that I get it gone before I am 30."

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