How I broke up with short-term money lenders (and learned to budget in midlife) [Video]

This is a First Person column by Simone Abrahamsohn, who lives in Toronto. For more information about CBC’s First Person stories, see the FAQ.

Since the pandemic, I’ve acquired a new skill: juggling.

After declaring personal bankruptcy a few years ago (prompted by poor budgeting, late bills, overspending online and UberEats orders), I wasn’t allowed to have a credit card and came to rely on money lenders when I found myself short of cash. At first I would use these lenders randomly, but I soon became dependent on them. 

The process seemed straightforward enough: like a loan from a bank but with higher interest, and due back in two weeks.

Feeling less than flush in the fall of 2023, after shifting to part-time work — having become a full-time caregiver for my brother — I started the holiday season wanting to feel “abundant” and not stress about coming up short for gifts (this goes for birthdays, too). I quickly spiralled into a …