No. of Recommendations: 30
I am in credit card debt because I overspent. Not because I started a new business that ultimately failed and not because I was "simply helping someone out." Shockingly, I am just now coming to learn this, even though I am now a year into debt paydown.

Before I elaborate, I will share a story. We recently went on a family outing to Costco. A few minutes after arriving to the store I realized I was talking to myself. I had lost my husband somewhere between the entrance and the produce section. I found him staring at a 70 inch TV. As I approached him, he said "beautiful picture, isn't it." I started to tease him with some comment on materialism and he replied with, "yeah, but I would be using it to watch documentaries, not football games."

His attempt to justify his admiration of bigger than life tv's based on what he would use it for, reminded me of how I would justify a purchase based on altruism or recently, with how it would help the business. And as I read through some of the old post, I realized that I am one and the same as so many of the other post-ers. They weren't spending money on a shoe collection to rival Imelda's or to buy a McMansion. Many of the reasons sounded like things I might have said: "But I needed the car for work", or "I was helping my elderly mother."

Plain and simple, if you only have xxx dollars to spend, it doesn't matter how many good reasons you have to spend yyy dollars. My husband understands this perfectly. He decides how much he wants to spend, and no amount of desire or rationalizing will alter his decision. I used to find this annoying, especially if I thought we could afford more or if I felt he was buying an inferior product to save a little money.

Thanks board for opening my eyes. I feel like being on this board, will help me on my quest to stay true to my handle of "neveragain."
Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.