BOO! Top 5 Spooky Money Nightmares
Credit, debt, over spending, loans—sound like the twilight zone, doesn’t it? Everyone can relate to the daily struggle of keeping your head above water when the going get tough. Here are 5 scary money stories that have all the finance villains laughing, “MWAHAHA!”
Debt to the Grave
Debt. It’s something that every person deals with at some point in your life. Many young adults deal with massive college loans after graduation. They will have you regretting your bar tabs and all the late night pizza you treated your friends to. Model student Joy Crane graduated from University of Chicago in 2015 with $90,000 in student debt. She is a highly skilled, award-winning journalist, but is stuck working as a server for a NYC reporter to keep ahead of monthly loan payments. Although there is nothing wrong with being a server and working hard… Joy feels like she will still be pouring drinks and paying off debt, even in the after life.
The Skeleton in Your Closet
This story is about a young writer named Sophia (yep that’s me!). She has always had a minor shopping addiction. Clothes, shoes, home décor, treats, groceries, you name it—she bought it. Doesn’t seem that bad, now does it? WRONG. She spent major $$$ on things she never used, wore, or ever got to enjoy. Instead the items would sit in her closet, with the tags still on them, accumulating dust.
The monster that lives in your wallet strikes again—your credit card. A few swipes here and there—enter your credit card bill a few weeks later, ooohhhh the horror! It’s so easy to be a bad consumer of credit card debt when you carry plastic in your wallet, because it doesn’t feel like money. If you have to reach for plastic to make it through the month, that’s a huge red flag. This puts you at risk of living on your credit card and missing payments, which slowly killing your credit. Put down the card and back away slowly. If you’re low on funds use cash or a debit card.
Vampires out for Blood
By vampires I mean banks. It’s hard to resist those credit card offers that ‘ensure’ benefits but in actuality are sucking your checkings account dry. Influence, negotiation, and persuasion are all qualities of a good vampire or in this case, a good bank. Hidden payments like ATM fees or overdraft fees may seem minor, but can cause your bank account to loose life. Watch out for the vampires and bring your garlic ;)
Nightmare Before Christmas
When the cold months come around my spendings go into hibernation. It seems as though I spend more than I am making. This makes no sense because when it gets cold that means Christmas is coming and that means presents for your loved ones. It’s a nightmare to think about your skimpy bank account when you have things to buy for mom, brother, bae, and bestie. Will this nightmare ever turn into a sweet dream!? It can. Daily deposits save for gifts and don’t kill your bank account all together. Phew! Thank you Great Pumpkin and thank you Father Christmas.
What is your spooky money nightmare?
Sophia Zigmond / Writer