Living Beyond Your Means?

Living beyond your means damages relationships, self-esteem, credit scores and is outright, fraudulent. The fact that governments operate beyond their means doesn't mean you and I should. We have all known people who lived a life they cannot afford, on credit they can not repay and then end up in financial ruin and embarrassment.

Here are some easy ways to identify if someone is living beyond their means:

Must Buy Designer, Think a Low-Paying Job is Below Your Status, Pay Someone Else to Do Menial Jobs, $100 Tennis Shoes & Food Stamps, Exceeded Your Credit Limit, Paid Overdraft Fees in the Last 12 Months, Stretching Term to Afford Car Payments, Vacationing on Credit, House Payment is Only Affordable on 30-year Term, Savings Won't Last 12 Months.

Says things like, "If so and so can do it I should be able to"; or "everyone else uses credit cards"; or "I deserve it - I work so hard"; or "this is what I work for"; or "we are already so far in debt, what's a little more." 

When a person doesn't know the signs they are living beyond their means they are probably already living beyond their means. Practice discipline in finances and when you want to splurge, don't put it on credit. Instead go out and create the income to pay for it without damaging your credit score or spending money you don't have. A wise man once said, "those that refuse to practice discipline in their own life will always be disciplined by life!"