It can be the simplest thing. We might be late into work one day and have to take a taxi because there is no public transport. We borrow £20 for the taxi from a neighbour or family member and promise to repay it next week on payday. But we forget to pay it back or we pay late.
We are driving in the car and get a flat tire from an old nail that causes the puncture. So we pull over at the garage and get the tire replaced. This costs £40 for the tire and another £20 for the labor involved in fitting it. So we pull out the credit card and charge the new £60 debt to the finance company, with the full understanding that we will cover it at the end of the month when the bill is due to be settled.
You are in town doing some shopping and some window browsing. A new shirt in the window of the clothing store just calls out to you as you are browsing, and you have to go in and take a look at it. You know you are not going to buy it, as it costs £35 because it looks so good. You justify the cost of this against the potential benefits. Your partner will certainly think you look more gorgeous in it, your employer will consider you a better candidate for the next round of employee promotions, and you could even wear it casually for a dinner party. And so the excuses come into your head until you walk out of the shop with it charged to your debit card and the money gone forever from your bank account.
What you want versus what you need.
You wanted to get the taxi to avoid being late for work. Yet you could have set your alarm, got up on time and have used your transport card which already gives you good value access to the bus and the metro system in your town.
You needed the new car tire because that really is a genuine expenditure you had to cover. Your car gets you out and around the area, and it serves as good transport for the family.
The shirt you wanted, but did not need. You have enough existing clothes in your home wardrobe that you could wear a different shirt every day for 3 weeks and all of them are quite good enough for your partner, for a work meeting or for a dinner with friends. You wanted it, you had no self-control and you wasted £35 that should have stayed in your account. You acted impulsively when you had no plan for spending on your wardrobe.
There simply comes a moment where our debt impacts our lives negatively. You need to recognise that moment when it arrives and acknowledge that you want to fight to do something about it.