As I have mentioned previously, the rise of influencer culture has created an insane ideology of posting an outfit once and then pretending it never existed. While I’m aware the mainstream idea that you can never re-wear an outfit has existed for a long time, I feel social media has heightened this belief. Unfortunately for me, the idea that every Instagram outfit has to be completely unique has caused me to massively max out my credit cards.
In December 2019, I realised just how bad my spending had got when I had reached a total of £3,000 owed between both my credit cards. What’s worse is that I knew I was struggling to pay it off but didn’t want to admit to anyone as I was ashamed. That was until my mum being the nosey bugger she is (love you, Mum) decided to take a look at my credit card statement and the game was up! She confronted me about the amount I had been spending. It was mostly clothes – at one point, I was spending about £100 a week on purchasing new clothing for Instagram posts. Realising just how bad the situation had got, my mum offered to help bail me out. And with my tail between my legs, I accepted her offer. I must add that I am so thankful for my parent’s help and I realise how lucky I am to have them there. I appreciate not even has people who would bail them out so easily.
So I am now slowly working to repay my parent’s back. I have paid them back about £900 so far. But I still have a long way to go! That means no more going out and having fun for me for a while – and definitely no more buys from ASOS. Oh, how I will miss it!
Honestly, I wish I had never got into this situation but it has definitely taught me a lot about myself and money. One of those things being: don’t allow me to have any credit cards! On a real note, I have realised the importance of budgeting and holding back on purchases – no matter how much I may want those pair of shoes. It’s really difficult as I am such an impulsive shopper and when I see something I want, I tend to buy without a first thought. However, I realise how damaging this is for my finances. Therefore, I need to cut back on unnecessary purchases so I can save for things like my car insurance and therapy sessions. While not as fun, I have worked out these things are really essential to my livelihood – not those £80 trainers I really like.
They say that we have to make mistakes to learn, and that is definitely true! It’s a shame it had to be something so severe but I am glad this happened while I was young. I imagine this will benefit me a lot in the future. Especially when it comes to saving money for a deposit or paying off bills!
If you’re struggling with debt and need some help or advice, please take a look at the below websites:
- National Debtline – https://www.nationaldebtline.org/
- Money Saving Expert – https://www.moneysavingexpert.com/savings/pay-off-debts/
- Money Advice Service – https://www.moneyadviceservice.org.uk/en/tools/debt-advice-locator
I am not affiliated in any way with these websites but I just wanted to provide a helpful source in case anyone is struggling like I was!