Everyone who has unmanageable debt has their own unique story as to how borrowing money has ended up causing them a whole load of grief. Our stories below show some typical journeys into that unhappy place, but they are only examples; life rarely follows a diagram. Take a look at each image and see if any of the paths feel vaguely familiar.
If you trace your path to the lower reaches of a chart, don’t hit escape. You can’t turn your worries off nearly as easily as the internet! Debt problems are generally resolvable and taking action puts you back in control and on track to feeling your world is a brighter place. If you can identify with being on the road to trouble, we have a whole host of useful articles that will help you take the first steps towards getting back on top of your money.
Washing machine broke, borrowed money to fix it – – – – > Couldn’t save for Christmas because of weekly loan repayments – – – – > Borrowed more money for kids Christmas presents – – – – > The baby had chicken-pox, so had to take unpaid leave from work – – – – > Borrowed more money to put food on the table at the end of the month – – – – > Bills, food and loan repayments total more than wages – – – ->?
Took out a credit card for internet shopping – – – – > Got a bit click happy and bought too many bargains – – – – > Couldn’t pay the whole bill at the end of the month – – – – > Spent a bit more, interest started to add – – – – > Got another credit card as up to limit and can only afford minimum – – – – > Needed a car to get to work, took out a loan to buy one – – – – > Lost overtime at work, so less money coming in each month – – – – > Can’t afford loan repayments and the credit card companies keep ringing – – – – > ?
My mates invited me to a last-minute weekend in Barcelona – – – – > Took out a Payday loan for the flights and hotel – – – – > Took out cash abroad which meant my rent Direct Debit bounced – – – – > Scary loan and overdraft changes – – – – > Took out another Payday loan to pay the rent and clear the overdraft – – – – > Got paid, not enough to pay the rent and both the loans – – – – > Took out another Payday loan to clear the other two – – – – > Could only afford the interest on the loan, so rolled it to next month – – – – > Don’t know how to live and get rid of my loans – – – – > ?