Hey, it’s Sophie!
I’m glad you are still keeping up with my personal story of shopping addiction. If you relate to it on any level, I hope it helps you.
In my last post, I told you how I got my first credit card in college to start building credit. The card had a very low limit, and I was mostly able to pay it off in full every month (with help from my parents). Then my car broke down, and I had to use the card to pay for some costly repairs. It maxed out the credit card’s limit, and I didn’t want to ask my parents for hundreds of dollars.
So I decided to get a job.
I applied and got a job at a cute little store near the university. It was a women’s fashion boutique full of gorgeous clothes and accessories. I was making my own money for the very first time, and working towards paying off my debt.
Something happened though when I started making my own money. It was like a switch in my brain went off, and I thought I could afford things that were previously out of my price range.
There were so many cute things in the store, and I got an employee discount. I would spend my entire shift picking out things to buy at the end of the day.
But since my first credit card was maxed out, I needed another one.
By this point, I had established credit with my first card. My credit score was still good, so I applied for a card with a much higher limit. I was accepted and got my second card in the mail just in time to buy everything I wanted at the boutique where I worked.
I was making money, but not nearly enough to pay off my debts. But by now I had seen how easy it was to max out a card and just get another one. I worried about my credit score getting too low to apply for more cards, so I asked for several all at once and was accepted for most of them.
I was armed with a fistful of plastic, not knowing it would be my downfall.
I thought getting a job, and more credit cards would help my financial situation, but it did exactly the opposite. I was spending more money than I made at work, and having a job gave me a false sense of security that somehow I’d be able to make enough to pay off all my cards.
Here is an article about mistakes people make when trying to pay off debt: