Financial Confessions of a Recovering Shopoholic

My debt story started like many other 20-something single females - in college. I wish there would have been someone with a crystal ball also sitting at that Chase booth, warning me that I was about to get myself in over $13,000 worth of debt. Sure, my parents warned me, numerous times, in fact. But what do parents know (I thought)? Of all the things I failed to follow my parents' advice on, this was probably the biggest!

There typically isn't a reason we open up credit cards while still in college - maybe to get a free t-shirt - my reason was to get a plastic, crystal-look-a-like mug with my university's logo on it. I was a junior in college, thinking about my future, taking 19 credit hours and working part-time. I thought I could handle the responsibilities of a credit card. Now I realize I should have known better - me, the girl whose money burned a hole in her pocket. Literally, every time I possessed money, I would think, "what can I buy with this?" And the sad truth is, I only began changing my ways two months ago.

A couple of weeks ago, I actually looked at my very first credit card statement using my online access. I didn't initially have a plan for my Chase card (i.e., never did I tell myself it was only for emergencies). I don't, however, think I actually planned to max it out. Even in college, I lived paycheck to paycheck - every other week when I got paid, I would head to the university bookstore and buy myself something new (sure, I was getting myself in debt, but man did I have the best clothes at every sporting event I went to)! One week I got an incredibly horrible cold. I needed something to help me get through it, and being the sissy I am, instead of heading to the campus clinic, I relied on OTC medication. At the time, however, I was broke. Remembering my credit card, I headed to Wal-mart with my roommate to buy myself some cold medicine. But it didn't stop with one box of pills; of course, I had to get Kleenex, cough drops and Nyquil. As you might be beginning to realize, I've never been one to budget, or rationalize my purchases. At that point, I didn't feel too guilty about charging my "must-haves" to my Chase card.