6 Signs You are Overspending

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Spending more money than we should is something that we have all done at some point or the other. However, if it becomes a pattern then it can badly affect your mental, emotional, and physical well-being. You may not feel the pinch instantly but eventually this habit will play havoc with your life. We give you some of the signs that can hint at the fact that you are overspending.

1. You feel the need to borrow

If you find yourself constantly asking your friends and family members for money, then you are definitely spending more than you can afford to. You must understand this is a vicious circle and soon you will find yourself borrowing money to settle a previous debt.

2. You’ve maxed out credit cards

If you have over two maxed out credit cards then it is an important sign that you are overspending. Also, whenever you go shopping if you feel scared that your credit card might get declined, it is an indication that you are under some financial burden and are still indulging in lavish expenses.

3. No difference between wants and needs

If you find the line between wants and needs beginning to blur, then you need to make a note of it. Overspending happens mostly because you are unable to understand what are the things that you need, and what are the luxuries that you want. If they begin to overlap, then you are bound to overspend.