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I’ve mentioned before that I’ve paid off over $15,000 in credit card debt. What I haven’t talked much about is where all that credit card debt came from. (Mostly because I don’t actually remember what all my ex & I bought.)

But I do know what started the credit card debt spree: Buying a condo.

In the case of my ex & I, buying a condo was a wise decision in and of itself. Even with the taxes, insurance, PMI and HOA fees, we paid about $50 LESS each month for a 2 bedroom, 1 1/2 bath condo than we had paid to rent a 1 bedroom, 1 bath apartment in a bad neighborhood. And our condo nearly doubled in value during the 7 years we owned it.

BUT.

We weren’t exactly prepared for the increased utility costs (due to poor insulation). And we did NOT need to run out and buy paint, new ceramic tile, new stick-on tiles, new ceiling fans, new light fixtures, new vertical and mini blinds (hey, it was the late 80′s), various repair items, and some furniture and decor ON CREDIT.

In fact, we didn’t really “need” to buy any of those items at all. We just wanted them, and we wanted them now. We convinced ourselves that we “had” to buy paint to cover up the hundreds of nail holes the previous foreclosed-on owners had left in the walls. When really, we could have lived with the holes for a few months until we’d saved up for paint and spackle. And of course once we’d painted, the bright new paint made the old vinyl flooring look dingy, so we “had” to replace that. And the cycle just continued from there. Once the floodgates were open, the debt just kept rolling in.

Many people go even more overboard, using credit cards or HELOCs to completely furnish and decorate their new house, to buy new appliances, and new electronics. It seems almost automatic now that “new house” should equal “all new stuff”. It’s so easy to underestimate the expenses associated with owning a home. And, it’s even easier to talk yourself into additional expenses that aren’t necessary at all. This is the path to debt.