The daily morning alarm is pretty irritating, but I got to Wake up! The alarm rings because the night before I had planned to get up on a fixed time. If I choose to ignore it and sleep again, the consequences could be pretty awkward. Same is the case if I choose to ignore the fact that I am spending much more than I should. In this case, there is no noisy alarm that will wake me up. It’s those indications which I should be able to read and understand. So what are those indications? How would I ever come to know that I am crossing the line?
The following 5 are clear signs of over-spending:
- Didn’t plan but purchased: If you realize that a certain item lying in your cupboard or house was never planned but you bought it just out of excitement, it’s over spending.
- More debts than credit: This is a pretty simple indicator if it is happening too often. Analyze your bank statement and mark those expenses which you think should not have appeared in the statement at all.
- When online shopping turns into an addiction: If you realize that you are checking those online shopping stores too often, it’s time to disconnect. Cut down on that criminal habit of impulsive buying.
- That never ending Debt: If you are using one credit card to clear the debt of another one, it’s not a good sign. It very clearly reflects that you are spending more than what you are earning.
- The shopping mall has become second home: If you can’t resist that feeling to visit the neighbourhood shopping mall frequently, you are in trouble. It’s a clear indication that you will again end up spending on unwanted items.
These are important indicators which one needs to reflect on. If you have any of the above-mentioned habits, it’s time to take corrective measures and turn it off.