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Borrowers Living Beyond Their Means: Why You Shouldn’t Be One

  • April 6, 2024
  • 4 min read
Borrowers Living Beyond Their Means: Why You Shouldn’t Be One

We have all witnessed those individuals with every material thing that one could desire, a fancy car, designer clothes, and glamorous holidays advertised on Instagram. Are these truly theirs or is it all financed by loans?

Living above your means can be quite a slippery slope. It starts with little indulgences and can easily go down the drain of financial crisis. The thing is, it’s fun and easy to fall into the trap, but not worth the stress in the long run.

So, How Do I Know If I’m Living Beyond My Means?

Have you recently pushed your budget envelope a bit and have been kind of depending on the form of legitimate money lenders recently? Here are the red flags.

Paycheck Panic

Are you the type of person who spends time counting days to when your payday comes? The day one receives his check has got to be the only day when the account balances have a healthy appearance. If you have answered ‘yes’ to all these questions, then you likely are an overspender.

The Minimum Payment Shuffle

Are you just scraping by with those minimum credit card payments? That’s a classic sign of living beyond your means. High interest rates will turn that small latte splurge into a long-term debt monster.

Emergency = Meltdown

We all have them – the busted tire, the leaky roof. But if surprise expenses send you into a full-blown tailspin, you’re probably not leaving enough breathing room in your budget.

Envious Eyes

Do you find that you are constantly trying to keep up with your friends, neighbors, or that influencer with the perfect house? That way of thinking will dangerously mislead you.

But Why Is Living Beyond My Means a Problem, Anyway?

Sure, a little overspending here and there might seem harmless. But, trust us, the consequences can really bite you:

The Debt Trap

Living beyond your means often means racking up a mountain of credit card debt. Those high-interest rates? They’ll make it nearly impossible to find your way out.

Crumbling Credit Score

Your credit score is like your financial GPA. Late payments, maxed-out cards – they all bring your score down. This will haunt you when you want a car loan, mortgage, or just a decent interest rate.

Goodbye, Future Plans

Saving for a home? Retirement? That dream trip to Bali? Living beyond your means today jeopardizes all of those goals for tomorrow.

Stress City

Imagine having that weight, the weight of unpaid bills and debt, over your head every second of the day. That is a recipe for being able to not sleep and acute anxiety.

So, How Do We Turn Things Around?

Don’t worry; you can get on track. You can start taking these steps today:

Brutal Honesty with Yourself

Grab a cup of coffee (a homemade one!) and get real with your finances. Where does every single penny go? A detailed budget is your secret weapon against overspending.

Ditch the Unnecessary

Gym membership you never use? Subscriptions galore? Cut out expenses that aren’t adding value to your life.

The Power of “No”

Sales, peer pressure, that tempting new gadget – sometimes you need to say “no” to keep your finances in check.

Secondhand Saviour

Before you buy new, see if you can find what you need secondhand. Amazing deals and a little less strain on the planet? Win-win!


There is nothing wrong with borrowing from reputable institutions such as Tampines money lenders. It doesn’t mean that by living within your means, you have to suffer to spend on essential commodities or investment. It’s freedom. Freedom from being able to lie down for good sleep at night. Freedom for what your dreams are. Freedom from that crushing weight of debt. Choose financial stability, and you’ll thank yourself later!

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