Falling Back into Credit Card Debt

It has been a while since I’ve written a post! There are a few reasons for this, mainly because work got busy and recently I failed my personal finance journey (again). Not many people I can think of want to read about the fall of someone’s finances (especially on repeat). But here it is!

[Related: I Am Not FI(RE) or Mustachian Material]

I did pay off the prepaid expenses related to the expensive impulse travel noted in the link above and have been moseying along quite well with my budget, but then my anxiety got the best of me and I purchased a premium upgrade seats. Because the thought of a long flight freaks the crud out of me especially when smooshed together rubbing elbows with one another. But I am also paying for 2. I am sure you can only imagine the price of that round trip even with a budget airline.

Then once the descent starts on the credit card I compiled that debt with, “well I might as well get everything else I need!”. Concert tickets for the summer, clothes much needed for work, a dinner here and there, and more. I racked up $4500 and am still anticipating another $2,500 – $4,000. Non-refundable.

In addition to that we are anticipating another big expense end of year.
And I just remembered about Christmas, too.

[Related: The Cycle That Has Yet To Break]

Ninety-nine percent of people with ADHD cannot own a credit card because it only takes one time to knock it out of the ballpark. Hence the example above. I f*cked up. And my baseline debt just keeps growing with my salary increases. And I still own a credit card. And I don’t have an emergency fund.

I haven’t thought of my plan for getting out of this until the rest of the debt finishes piling on. One good thing in my favor, my credit card utilization is <5%. Well really not in my favor because I don't need that much credit!

All in all, it needs to be always and forever CASH (or debit).

6 thoughts on “Falling Back into Credit Card Debt

  • I just want you to know that while I do not have ADHD, I can completely relate to this. I am naturally a spender because I have zero discipline and all it takes is one expenditure for me to fall down a rabbit hole, and then I spend like crazy before I can feel the hurt.

    I love reading about people’s failures – not because I enjoy watching people fail – but because we are human and it helps to know that there are others out there who are making mistakes just like me. Thank you so much for sharing this.

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    • You’re welcome. I like reading people’s failure for the same reason and that it’s not always an upward trend all the time. It’s nice when people can resonate. Now if I could just break the behaviors that keep me in this mold. I realize how much its not about the money but about the psychology and emotions behind it – that where the hard work comes in.

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  • Sorry to hear you fell back into debt. My ex-husband had ADHD, so I have at least a vague idea of how hard it can be to rein in impulses. Especially once you’re already spending. Heck, even people without ADHD fall into the “Well, I’m already spending, so might as well…” mentality.

    Try not to be too hard on yourself. You’ll get back out of debt, and now you’ve learned an important fact about yourself: cash/debit is going to need to be your go-to. Some people rack up a lot more debt before they come to that realization about themselves.

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    • Ya, that is true that a lot of people sink way far down before the realization. I am fortunate seeing it sooner. The hard work is going to be living on cash/debit only – both mentally (as it makes me depressed and I need to learn to turn that around) and living within my budget. So now I will get to it! 😀

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    • thanx! honesty is overrated! (kidding, kidding). I don’t know if rome will every be built, but here its putting the boots on to try again.

      Like

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