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I’ve gone and done what I always said I wouldn’t do. I’ve maxed out my credit cards. Not just one but five!

It started back in 2007. I had just the one card and I religiously paid off what I owed every month when my pay check went into my bank account. Then Christmas came along and I decided to splash out a little.

I bought all my family rather generous gifts, treated myself to several new outfits and had a great time partying and making merry over the festive season. The new year came along and so did my credit card bill. Far too much for me to pay off in one go so I paid the minimum and resolved to pay off the rest over the forthcoming months.

Then a friend told me that I should simply get another card offering six months interest free credit. Transfer the balance from my existing card and hey presto, problem solved. So that is exactly what I did.

The same friend then suggested we take a week’s holiday at Easter (2008). I said no, I couldn’t go because I had no money. “But you have two good credit cards”, she said. The next thing I knew I was on a plane headed for Ibiza all paid for with my credit cards.

We had a great time in Ibiza, but it wasn’t cheap. If you have ever been there you will know that the clubs are excellent but they know how to separate you from your cash and the shopping was irresistible. I bought so many new clothes and shoes that I had to buy a second suitcase and pay the excess baggage charges to get home.

It really shouldn’t have been a surprise to find that I had maxed out both of my credit cards. The solution was to get yet another card and consolidate my debts. Are you beginning to see a pattern here?

The summer of 2008 saw me and my friend jetting off to Florida for 10 days, all paid for with credit cards. Then Christmas 2008 came along and everything had to be paid for with plastic, yet again.

So this sorry tale is how I have found myself with five credit cards and nearly £40,000 of debt. Luckily I am now taking some sensible financial advice and I have a plan in place that should see me get on top of this debt mountain within 3 to 5 years. All I have to do is stay employed. Fingers crossed.