Burning the Credit

Hello High Heelers

My credit card has always been one of my best friends. I swipe now and pay later. Instant gratification and delayed consequences. I can buy the heels and keep a healthy bank balance. This is probably not a good thing. Though, in my defence, I am very disciplined with my card. I keep records and pay it off at the end of every month – right on payday.

Last week I enjoyed swiping while on holiday in Cape Town. For those of you who have never visited the city, know that it is internationally renowned as one of the most beautiful places on earth. This is really not an exaggeration. I promise! The city is almost wholly surrounded by white sandy beaches and in the centre is the wondrous Table Mountain which on any given day has a layer of clouds hovering above it forming a fantastic, frothy table cloth.

In Cape Town the air is a little fresher and the surroundings are a little brighter than anywhere I’ve been before – and I’ve done a good amount of travelling! It’s just one of those magical places. It also has the magical power to extract large amounts of money from people. Hanging out in my home town of Muzinberg was safe as we shared cappuccinos with local surfers and artists in a rustic street café. But when we hit the hot tourist spots in town and in the ‘oh so trendy’ Camps Bay area – the plastic was melting. My credit card was on fire. And I was left burnt. Ouch!

And now my good banking friend is broken. It broke with little warning too. On my return from Cape Town I popped past the grocery store to buy some basic goods – as in low GI bread and fat-free milk – and on paying for my bill of R53.00 (which is a little less than $10 US) my card spat out the most disgusting message of rejection – ‘no funds available’. I made the cashier try it again as I was completely in a state of disbelief – my card would never reject me, I am so good to it. Yet again, out came the same response and the woman behind the counter gave me the ‘you need to manage your money better’ look.

Yes, the truth is that I overspent significantly on meals, drinks and goodies that I really didn’t need, but really wanted at the time, while on holiday. When thinking about my usual spending habits I realise that I don’t really manage my personal finances as well as I should. I am pretty disciplined with what I spend on, but I don’t forecast for holidays and make provision for special occasions.

At work I budget everything and even make provision for bank charges. I have financials with our team every month and make sure that I don’t ever overspend on my promises for the year. We forecast and track every cent. It’s an excellent practice that would be valuable to follow in my personal life.   

As we move into the silly spending season, may I remind you all to look after your finances and not spend beyond your means? Paying later could really put massive unnecessary pressure on us compared to the momentary pleasure of spending joy we feel now.

Let’s be sensible High Heelers who spend wisely and plan for a healthy bank balance. Have a wonderful week.

Cheers,
Jo