What are the signs you are living beyond your means?

Many people are living beyond their means due to what they see online these days. Guys popping bottles at the club and driving latest cars, while the ladies are putting on the latest designers.

The constant show of wealth lets a lot of people want to keep up with the trend and also belong.

But if you can’t afford such lifestyle it means you are living beyond your means.

1. You have nothing to save every month

If you have nothing to save each month, then you should check your lifestyle. It is probably you are living beyond your means, which is not making you to save anything every month.

No matter how much you make, you should set aside some money to put into your saving each month.

2. Buying things you cannot afford

If you keep buying things you cannot afford and such items keep affecting your finances negatively then it means you are living beyond your means.

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You need to make a stern decision to stop spending on things you cannot afford. You find out that if you keep spending on things you cannot afford, you might always end up in debt.

3. You don’t set monthly budgets

If you don’t have a budget, you might end up living beyond your budget because you have no spending plan which makes you spend unnecessarily on things you cannot afford.

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Not only must you have a budget, you should also make sure you set a realistic budget that tallies with your income.

4. You pay your bills late

If you always pay your bills late and you keep missing the deadline to pay your bills, then it is likely you are living beyond your means.

You might not remember to pay bills. That’s fine, we are all humans we forget things but if you are aware of it and still refuse to pay then it’s likely you are not doing the needful.

Create a savings meant for your regular bills payment so you don’t have to stress when payment is due.

5. You cannot afford the essentials

If you find it hard to afford the basic essentials, like food and toiletries, then it is a clear case of money mismanagement and inappropriate use of money.

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Your essentials should come first before any other thing.