With a name like Petronella Wyatt, it is clear she was born into money, in Igbo her name would be Utobundu Egoyibo. But one problem we all sometimes have is thinking good times would last always. From over-priced clothes to extravagant vacations, and more, Petronella did not save for the future rainy days as she enjoyed her GBP six figure income.
When you are a middle class person who wants to rub shoulders with the wealthy elite, when inflation and recession hit, be sure you will be left under the bus. I'm not totally without sympathy for people like Petronella, but it's more of a cautionary tale. Her piece for the Daily Mail is an eye opener.
Last year, for example, I had to decide between a summer holiday and a new summer dress. I decided on the holiday, but as the cost of the flights and hotel added up, I realised I would have to raise an additional £400.
I began selling the summer clothes I had bought the previous spring. I now buy vintage, and rummage through charity shops.
Owning a Chanel suit, the price of which has risen over ten years from £1,000 to more than £5,000, is out of the question. Indeed, I can barely afford the charity shops in St John’s Wood, where I live.
Despite these savings, I no longer take a holiday in the winter and rarely eat in a fashionable restaurant, let alone visit places like the Ritz. It is a struggle to pay the rent.