Jaye Lentin: Away with the evil credit goblin!

It's not big and slimy with sharp fangs, razor claws and blood red eyes. Quite the contrary, it appears before us as a sweet voice over the telephone, a friendly face of hope in a smart suit, sometimes even a letter of riches to come. But it absolutely is and always will be a slimy, evil goblin.

Credit is a bizarre beast. It conjures images in my mind of kneeling at the crossroads or trying to guess the name Rumplestiltskin.

The idea of being able to purchase shiny new things that are far beyond my financial capabilities certainly lures me in, but it's impossible to shake the feeling that it all comes at a terrible price.

The concept of credit is actually so shallow that it's a wonder we fall for it. I am the proud owner of four credit cards.

My first card allowed me three times my monthly income. The rest followed as I became recognised as a spender who pays his minimum balance.

I now have a credit buying power that's at least six times my income. Once I used credit, I was given more credit. The goblin doesn't want me to pay off my debts. The goblin wants me to owe it forever, it wants control.

One of the reassuring(?) aspects that credit institutions offer me is the option to pay a monthly installment, which provides me with cover, in case I cannot pay my debts for unforeseen reasons. What unforeseen reasons?

The reason is obvious; they're allowing me to spend way more than I have. If I continue down the credit path I will eventually have nothing and owe everything.

The only successful credit shield that anyone could offer would be more like a credit sword. I'd use it to slice my cards into twine and be done with spending what I don't have.