You might end up like the proverbial frog in a pot of boiling water.
Impulse control becomes very difficult when you have access to such an amazing facility as it almost feels like “free money”.
It becomes much easier to book that lavish holiday, go to that nice restaurant or buy that new item, since the cost only adds up to an extra R200 on your card instalment every month. It’s a perpetual cycle of “I’ll deal with it later” until you realize it was too late 5 months ago, and both your overdraft and credit card have now both maxed out.
Now there’s no room left to juggle, and all the pins start falling. A large portion of your salary disappears the moment it hits your account, thanks to all the debit orders being the first thing to go off, then you must pay for your insurance, rent, internet and all the other things that are non-negotiable.
But everything feels like a non-negotiable.
You try and work out a budget and cut wherever possible, but it’s simply not enough. You feel overwhelmed and don’t know what to do. You start regretting every single purchase you’ve made on your credit card.
You start regretting ever booking that holiday, even though that was the best holiday you’ve had in years.
