How a CPA Got Into Massive Amounts of Debt [and what she did about it]

Personal finance management information is everywhere. You can read about how to manage your money almost anywhere on the internet these days. They write books about it. In fact, a lot of them are best sellers.

If the opportunity to learn how to manage your finances is so accessible, why are North American household debt levels the highest they’ve ever been? Why do we carry debt?

Personally, I’ve been there. I managed to spend $100,000 of money I didn’t have in one year, all on credit.

The worst part for me is I’m a Chartered Professional Accountant, a money expert. I’ve been working with people for over 20 years, teaching them how to manage their money.

I have studied all things personal finance, and my husband and I’d followed our financial plan rigidly over the years.

I knew better.

And then it all happened. I went off the rails.

Spending My Way Into Massive Debt

It started slowly where I would go on weekend shopping trips with the girls and buy stuff I didn’t really need or want. Then, it blossomed into a full-blown spending spree from hell, with a bunch of baby steps in the middle.