Credit cards, my experience Part one

At the minute I have four credit cards, a paypal credit account, an Argos card, as well as two other accounts where I’m paying for things on finance. I’m 19, not in a particularly high paying job and I’m struggling like so many other people that have made the same mistake.

I don’t even know how much money I owe in total to all these various companies and to be honest, i don’t want to know. It all started when I turned 18 and could apply for credit cards. I was stupid, really stupid. The first credit card I got ‘just in case’ i ever needed it.

Then a couple of months later I got the second one so i could buy a mini fridge. The third I got because I was bored and was wondering if I could apply for another one. Then the fourth I got because I didn’t know Amazon did a credit card, and I stupidly wanted one.

With my new found riches I started to buy things, ‘because I could’. I had the money there to spend, so why not spend it. I never needed to spend half of the money I did, it was all on wasteful things that I really didn’t need. At the time I didn’t think about the interest and monthly payments I would need to pay, and will be looking to do so for probably years to pay it all off.

I wish that i listened to my mum, she told me it was a bad idea, she told me not to, but I did anyway, and I really wish I didn’t. Especially with my age I don’t get paid as much as i would if i was 25, which makes paying off these things even more difficult. Furthermore it also means I cant do half of the stuff I want to now because all of my money is going to all these different companies so I don’t have bailiffs turn up to my door.

The interest on these things is stupid. On some of them its almost as much as the minimum payments, which is all I can afford to pay, so I’m literally paying however much money every month and its getting me no closer to paying it off.

 

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