Debt

You’re Eligible for a Debt Card!

slave to debt

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Wait, what? But seriously, imagine if that’s what the letter said when you received marketing material to open an account for a credit card? Even the best intentions to pay back what you borrow immediately can fail, rendering you a slave to debt.

If a finance provider offered you a “Debt Card”, it’s highly unlikely you’d take them up on it. I know I wouldn’t voluntarily put myself in debt. I mean, technically I did, but I’d also argue that the terminology is what swayed me in applying for these accounts that put me in the red.

Credit is Power… Or is it?

Credit is a powerful word. It gives the impression of worthiness. To be credit-worthy can be akin to membership of an elite club. Only, the elite club isn’t as exciting or advantageous as you expected it to be.

Lured in by promises of thrilling, fulfilling lifestyle, the reality is far from true when the credit card bill hits the doormat. Instead of freedom to live the life you want, you’re shackled as a slave to debt.

Saving is Boring… Isn’t it?

Saving for a rainy day. It doesn’t quite have that ring of excitement about it, does it?

You’re saving it for later. Where’s the fun in delaying gratification? Surely if you wanted it you’d consume it right away?

This reminds me of the difference to my childhood psyche in comparison to that of my eldest daughter’s. When we had roast dinner, I always saved my parsnips and roast potatoes until last. I ate my broccoli first, because I wanted to get the worst bit out of the way before savouring my favourite part.

My daughter is the opposite and eats her Yorkshire pudding, carrots and roast potatoes first, leaving her broccoli ‘til last. It’s madness. She abhors broccoli and tortures herself in eating the smallest piece of green to grace her plate, on an already full and satisfied stomach.

She misses the benefit of warm, nutritious and natural food because she wants to eat what she considers to be the good stuff first.

You Can’t Get Something for Nothing

We live in an instant gratification society. We want everything now. But having it now comes with a price.

There’s no such thing as something for nothing. Whatever you want in life, you’re going to have to work for it.

Your emergency fund. Paying off debt. The latest tech. A deposit for a house.

So next time you’re tempted to use that credit card, or make a purchase on interest-laden finance, stop and think of the consequence. If you want it desperately enough, you’ll find a way to afford it.

You see, that kind of control is an unrivalled power. You’ll experience the true magic of delayed gratification, and your future self will thank you for it.

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If you’re struggling with debt, please seek help from a charitable organisation such as Nationaldebtline.org, Stepchange.org, or moneyadviceservice.org.uk for free, impartial advice.

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