- - - £££

OK, the money situation has (temporarily) got worse. Both my loans are now paid off (woo hoo!), but after a problematic few months a while back last year, I ended up getting a payday loan that has since spiralled out of control. It’s fine getting some cash in advance of payday if you’re in a really sticky situation, if you then pay it back on you get paid and leave it there. But once I’d paid it back with the interest, I found I was still in a sticky situation and ended up borrowing more, until I’m at the point where I owe nearly a month’s pay. I’m currently trying to get another loan, this time one that is spread over 12 months, so that I can essentially repay the payday loan over the space of a year instead of in one go whereby my pack packet disappears from my bank account the same time it arrives.

Things are so crap at the moment, but I can’t really direct the blame anywhere else. The problem is that when you get into a tight financial situation, everything seems to conspire against you to keep you that way. The best credit deals are not available to you (meaning trying to rectify the situation costs you twice as much and takes you twice as long), banks charge you extortionate fees for going even slightly over your overdraft limit (or for letting direct debits be paid even though enough money isn’t available, when they could just refuse to pay it, all so they can charge you £30 per item for the privilege) and wanting to pay anything in instalments ends up being more expensive (yes, they offer 0% interest for 6 months, but they don’t give you that when your credit history isn’t squeaky clean).

It’s a wake-up call that I am fast approaching the end of my 20s, have been working for 8 years or so and don’t have anything to show for it. I am slightly less irresponsible with money than I probably was while at uni, but you wouldn’t know from my complete lack of disposable income after bills are paid. I have to get my act together, for real this time.