As some of you may know, I’ve joined Financial Freedom University which was created by The Wealth Chef, Ann Wilson. It has really changed my relationship with money and taught me so much about how our stuck emotions can influence our money story.
So today I was shopping and found a really funky dress in a major department store chain. Lately I’ve been disciplined with my money and only buying things if I would pay cash for them. Credit cards have a nasty habit of making us spend much more than we would otherwise – all those attractive little extras like points and airmiles plus the fact it doesn’t feel like you’re spending money at all! I loved this dress so much and the sale price was so good that I decided I’d be happy to pay cash for it.
But at the till, I was told about some attractive offers if I signed up to get the store credit card. I’m only used to being asked to join loyalty schemes which are pretty harmless and I figured that as I wouldn’t use this card much at all, it would be OK to apply and take advantage of the offers.
BIG MISTAKE! For whatever reason, after half an hour of messing about, I was declined and left with a black mark on my credit record. I was annoyed with myself for not sticking to my original plan to pay with “real” money and I was really annoyed with the store for trying to push a credit card with an appalling interest rate on customers and profit from more debt creation. I learned my lesson big time and will never again apply for a credit card on the spur of the moment.
Of course I wouldn’t be as annoyed if it all went through. But it points to a larger problem. There are big profits to be made from debt and many people’s ignorance in financial matters. I was certainly completely ignorant and buried my head in the sand about finances. Starting my own business forced me to learn about money and getting myself into debt while setting it up, forced me to make big changes to how I use money.
For me, I have turned the anger from this mistake into rocket fuel for my debt blitzing and I am more determined than ever to be debt free ASAP and to be financially free within 10 years.
I’ve done the inner work, now it’s time for the outer action!