“It’s a frightening statistic that 47% of Americans would struggle to come up with $400 to cover an unplanned expense. Yet nearly half of today’s workers are living paycheck-to-paycheck, with no financial cushion whatsoever, and a big part of the reason boils down to living beyond our means.”
(“3 signs you’re living beyond your means.” CNN Money. 19 Sept 2017. http://money.cnn.com/2017/09/19/pf/living-beyond-your-means/index.html?iid=SF_LN)
Some indicators that you’re not spending within your budget:
- You have a low credit score
- Your rent or mortgage payment is more than 30% of your income
- You’re not saving at all
Read why these are signs that you’re living too high on the hog here.