7 Sure Signs of Overspending


It’s difficult to spot signs of overspending, if you are not looking for them. Overspending can occur very easily, and it can seriously wreak havoc on your finances. Here are a few signs you are overspending!

1. You have more debt than income

Nobody likes debt. Perhaps it’s the worst part of our life! And if you have more debt than your income, you are overspending. If you have student loans or a car payment or any other similar situations, that’s a different story. If you are in debt because of shopping and any other unnecessary spending habits, it’s time to break off those habits!

2. You max out your credit cards

If you have maxed out two or more credit cards, you are definitely overspending! It might be difficult to live within your means, but it’s definitely doable. You should start to pay off your debt and stop spending money that you don’t have! Even if you live on one family income, try not to touch your credit cards!

3. You always borrow money

If you’re always asking your mom, dad or sister to borrow you money, you surely have an overspending problem. Sometimes it’s okay to borrow money, it’s life, but don’t make a habit of it and don’t put yourself in more debt. Borrowing money can ruin any good relationship!

4. You have a fear of declined cards

If your credit card is often declined, or if you’re constantly worried that your credit cards will be declined, you could be overspending. I think it’s really an embarrassing situation, especially when you stand in line at the checkout.

5. You can’t resist the urge to splurge

For me, shopping is something that is extremely difficult to resist, especially when there are so many particularly good bargains or sales. But I try not to splurge. If you can’t resist the urge to shop and you rush off to the store a few times a week, this is one of the signs of overspending!

More: 7 Smart Ways to Shop Wisely

6. You often buy unnecessary things

Have you ever looked through your cabinets, drawers and closet and found absolutely new and unused things just lying throughout your house? Do you remember buying them? If not, you might be overspending! I’m not talking about purchasing clothes for upcoming events or shopping for birthdays in advance. That’s a different story!

7. You can only afford to make the minimum payment

If you have a lot of bills and you can only afford to make the minimum payment and have anything left of your paycheck, it’s time to look for some ways to pay off your debt faster. Try to make a larger deposit every month, pay down your debts and start a savings account!

Overspending is absolutely easy to do, and it often happens to all of us. Start prioritizing bills and get out of debt! Do you notice any signs of overspending? Share your thoughts, please!