Broke In The City

Contributed by LearnVest

“Why Am I Broke?”

I’ve watched those movies—the ones where the cute girl goes on huge shopping sprees to feed her borderline-insane shoe addiction. I’ve read the articles on women who can’t stop buying Louis Vuitton bags on credit. None of those stories have anything to do with me … except for the part where the girl, somehow oblivious to the consequences of her charges, goes into astronomical credit card debt.

Why Wouldn’t Frugality Work For Me?

I’ve never bought a dress that cost more than $200, and all my shoes have been re-soled at least twice. My vacation time is spent hanging out on the beach—eating picnic lunches with my mom in Florida. I often make coffee at home. I even use coupons. And yet, like so many other Manhattan-dwelling women under 30, I am broke. And for a long time I didn’t understand why.

The Culprit Was My Credit Card.

“If the money wasn’t spent on Jimmy Choos, then where did it go?” I often pondered, as I ignored the climbing numbers up on my American Express bill. Now that I have finally locked that evil piece of plastic in a drawer (haven’t charged a thing in months!) I realized what all those charges were really paying for—my ever-present guilt and naïve idealism.

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