Living above your means has become all-too-common in today's society. With how easy it is to impulse buy online you can easily end up spending more than you make.

Living beyond your means can put your finances at risk. It will put you in debt without having any money to save or pay your bills. You should watch out for these warning signs to make sure you aren't living beyond your means.

You spend everything you earn
Keeping up with the Joneses is what gets you to make bad financial decisions and overspend. Furthermore, it can put you in unnecessary debt.

Look at your overall spending, identify where you are making mistakes, and start correcting your bad money habits. Ignore what others have and stay focused on yourself.

You're spending too much on rent
If you are underpaid and you decide to upgrade your lifestyle by living in an expensive area, you are overspending. This will cause you to constantly live from paycheck to paycheck.

Biting off more than you can chew can leave you in financial trouble. Downgrade your housing to the one you can actually afford and maintain.

You don't budget
By creating and sticking to a budget, you can track how much money you earn and spend each month. This can help you identify areas where you can cut back on your spending.

Step back, look at your paycheck, and create a budget to keep track of your spending every week.

You could but don't save
You are constantly at risk of an emergency disrupting your life if you do not have savings. Savings is a necessity that should be a fixed part of your budget.

Financial experts suggest saving 20% of your monthly income, but if you can't do that, try to save 5-10% of every paycheck.

You worry about paying bills constantly
A clear indication that you are living beyond your means is when you always have the newest and most expensive items but struggle to pay monthly bills.

Organize your monthly bills and examine them one by one. Reduce your expenses by budgeting more accurately and downsizing to save.

Final thoughts
The fact is that you can live above your means no matter your income level. The consequences of ignoring long term goals and living an expensive lifestyle are greater than the benefits.
Make a plan to downsize and prioritize living within your means if you want to escape living from paycheck to paycheck.

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OP all dis yur story no body stays in nigeria and still think of saving except his not independent
Save in bank they wahala
Nepa bill 200% high
Fuel or des
Gas for cooking
Trans can't be fixed anything can happen u will spend more
Cable station
Food
Clothes
Shoes
Health
Family if any
Sibling
Wife or GF
Etc
Tell how u wan take safe

neonly:
OP all dis yur story no body stays in nigeria and still think of saving except his not independent
Save in bank they wahala
Nepa bill 200% high
Fuel or des
Gas for cooking
Trans can't be fixed anything can happen u will spend more
Cable station
Food
Clothes
Shoes
Health
Family if any
Sibling
Wife or GF
Etc
Tell how u wan take safe

By getting a side hustle... You can't survive long if all your earnings go into expenditures.

Op you have made really good points...

Stephen0mozzy:


By getting a side hustle... You can't survive long if all your earnings go into expenditures.

Which side hustle
People go to work resume by 9am mind u they left home as early has 6.30 close work by 4 before they get home 6 to 7
Where d side hustle wan come Saturday and Sunday do over time make money complete
Pls u can only talk of yurself because of nature of yur work don't generalise it
Saving no easy again bro's we life from hand to mouth now
I wan go buy fuel now abeg

Stephen0mozzy:


By getting a side hustle... You can't survive long if all your earnings go into expenditures.

Which side hustle
People go to work resume by 9am mind u they left home as early has 6.30 close work by 4 before they get home 6 to 7
Where d side hustle wan come Saturday and Sunday do over time make money complete
Pls u can only talk of yurself because of nature of yur work don't generalise it
Saving no easy again bro's we life from hand to mouth now
I wan go buy fuel now abeg
Thks

neonly:



Which side hustle
People go to work resume by 9am mind u they left home as early has 6.30 close work by 4 before they get home 6 to 7
Where d side hustle wan come Saturday and Sunday do over time make money complete
Pls u can only talk of yurself because of nature of yur work don't generalise it
Saving no easy again bro's we life from hand to mouth now
I wan go buy fuel now abeg

Excuses are logical sometimes, but excuses don't pay bills.

There are 24hrs in a day.. What you do with this information is up to you

Stephen0mozzy:



Excuses are logical sometimes, but excuses don't pay bills.

There are 24hrs in a day.. What you do with this information is up to you

Apt!