Discover signs that indicate you might be overspending and find out what to do about it.
If you can only afford the minimum payment on your credit cards, it's one of the clearest signs that you're overspending. Minimum payments just keep your debt at bay but do little to pay it down.
If your bills are piling up or you're often late paying your bills, you might want to think twice about the items you are buying.
Do you have a lot of recent purchases around the house that you have barely used? This could be a sign that you are overspending
Another sure-fire sign that you might be overspending is if you worry that your credit card might be rejected when paying. If you're even close to your limit, it probably isn't the time to 'treat yourself.'
There's a certain amount of pressure to keep up with the lifestyle of others, but if you can't afford it, resist the urge.
If you have no other option available to you but to pay by credit card, you are probably overspending. Consider building up some savings.
If you consider shopping a hobby, you probably spend too much. Fishing, hiking, painting, billiards-those are hobbies. Shopping, not so much.
Beware of shopping just to make yourself feel better. It's a fleeting pleasure that can be extremely expensive.
Avoid using your retirement savings for anything other than retirement. A dire emergency or retirement itself should be the only reasons for taking money out of your retirement fund.
You may be living beyond your means if you have a good job and a solid income but find yourself unable to build up any savings. It might be time to rethink your spending.
If a financial emergency or job loss would put you into debt, you might want to stop spending and start saving for an emergency 'rainy day' fund.
Hiding your shopping habit or lying about buying things is definitely a warning signal
It's an easy, measurable indicator: if your monthly income is lower than your credit card debt,.If you've recognized a few of these indicators in your own life, it's time to make a few changes: