• About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, June 21, 2025
  • HOME
  • NEWS
    8 Ways to Protect Your Business from Cyber Threats

    8 Ways to Protect Your Business from Cyber Threats

    These 5 Africa’s Billionaires Are Getting Richer - Here’s Why

    These 5 Africa’s Billionaires Are Getting Richer – Here’s Why

    How to Save Money in Nigeria Despite High Inflation

    How to Save Money in Nigeria Despite High Inflation

    Top 5 Countries Nigeria Import Goods From

    Top 5 Countries Nigeria Import Goods From

    The Diminishing Value of ₦100: A Reflection on Nigeria's Inflation

    The Diminishing Value of ₦100: A Reflection on Nigeria’s Inflation

    ATM Fees - Should Banks or Nigerians Bear the Cost of ATM Withdrawals?

    ATM Fees – Should Banks or Nigerians Bear the Cost of ATM Withdrawals?

    Why Nigeria Must Break Free from its One-city Economic Model

    Why Nigeria Must Break Free from its One-city Economic Model

    Reviving the Naira: Why Nigeria Must Produce More and Import Less

    Reviving the Naira: Why Nigeria Must Produce More and Import Less

    Atiku, Obi, and El-Rufai: A New Political Force or Another Failed Alliance?

    Atiku, Obi, and El-Rufai: A New Political Force or Another Failed Alliance?

  • ENTERTAINMENT
    • All
    • Comedy
    • Gist / Viral
    • Music
    • Nollywood
    • Reality TV Show
    EFCC-France Partnership Signals a New Era in Nigeria’s Fight Against Cybercrime

    EFCC-France Partnership Signals a New Era in Nigeria’s Fight Against Cybercrime

    Top 9 Venues in Nigeria for Concerts and Large Gatherings

    Top 9 Venues in Nigeria for Concerts and Large Gatherings

    P-Square Family Feud: Jude Okoye Arrested for ₦1.3 Billion Fraud

    P-Square Family Feud: Jude Okoye Arrested for ₦1.3 Billion Fraud

    the largest music market in Africa

    What is the Largest Music Market in Africa?

    What is the Ranking of Nigeria's Music Industry in the World?

    What is the Ranking of Nigeria’s Music Industry in the World?

    how do I get Netflix to fund my film as a Nigerian?

    How Do I Get Netflix to Fund My Film as a Nigerian?

    can I sell my movie to Netflix as a Nigeria?

    Can I Sell My Movie to Netflix as a Nigerian?

    how to attract and secure sponsors for your film

    How to Attract and Secure Sponsors for Your Film

    different ways to fund a film

    What Are Different Ways to Fund a Film?

    • Reality TV Show
    • Nollywood
    • Comedy
    • Music
  • GIST / Social Media drama
    8 Ways to Protect Your Business from Cyber Threats

    8 Ways to Protect Your Business from Cyber Threats

    These 5 Africa’s Billionaires Are Getting Richer - Here’s Why

    These 5 Africa’s Billionaires Are Getting Richer – Here’s Why

    How to Save Money in Nigeria Despite High Inflation

    How to Save Money in Nigeria Despite High Inflation

    Top 5 Countries Nigeria Import Goods From

    Top 5 Countries Nigeria Import Goods From

    The Diminishing Value of ₦100: A Reflection on Nigeria's Inflation

    The Diminishing Value of ₦100: A Reflection on Nigeria’s Inflation

    ATM Fees - Should Banks or Nigerians Bear the Cost of ATM Withdrawals?

    ATM Fees – Should Banks or Nigerians Bear the Cost of ATM Withdrawals?

    Why Nigeria Must Break Free from its One-city Economic Model

    Why Nigeria Must Break Free from its One-city Economic Model

    Reviving the Naira: Why Nigeria Must Produce More and Import Less

    Reviving the Naira: Why Nigeria Must Produce More and Import Less

    Atiku, Obi, and El-Rufai: A New Political Force or Another Failed Alliance?

    Atiku, Obi, and El-Rufai: A New Political Force or Another Failed Alliance?

  • SPORTS
    6 richest English football clubs based on their earnings in 2023/2024 season

    Top 6 Richest English Football Clubs Based on Their Earnings in 2023/2024 Season

    Who is Éric Chelle, Super Eagles' New Coach?

    Who is Éric Chelle, Super Eagles’ New Coach?

    10 top sports events o look forward to in 2025

    10 Top Sports Events to Look Forward to in 2025

    Tinubu Awards MON to each Super Eagles Player, gifts them flats & plot of lands

    Tinubu Awards MON to each Super Eagles Player, gifts them flats & plot of lands

    “You did your best. You are part of a team that brought home a silver medal which we last won at AFCON 2000" Senator John Owan Enoh encourages Iwobi

    “You did your best. You are part of a team that brought home a silver medal which we last won at AFCON 2000″ Senator John Owan Enoh encourages Iwobi

    "I understand how it feels giving you a disappointing night" Nwabali emotional as he apologizes to Nigerians after Super Eagles' lost to Ivory Coast

    “I understand how it feels giving you a disappointing night” Nwabali emotional as he apologizes to Nigerians after Super Eagles’ lost to Ivory Coast

    "I just wanted to make nigerians happy, i want them to feel good," - Super Eagles Goalkeeper, Stanley Nwabali speaks (VIDEO)

    “I just wanted to make Nigerians happy, i want them to feel good,” – Super Eagles Goalkeeper, Stanley Nwabali speaks (VIDEO)

    Ngozi Okonjo iweala Super Eagles

    “Let’s get it done” – Okonjo-Iweala urges Super Eagles to defeat South Africa

    Adapting to the Varied World of Tennis Court Types

    Adapting to the Varied World of Tennis Court Types

  • Articles & Editorials
    8 Ways to Protect Your Business from Cyber Threats

    8 Ways to Protect Your Business from Cyber Threats

    These 5 Africa’s Billionaires Are Getting Richer - Here’s Why

    These 5 Africa’s Billionaires Are Getting Richer – Here’s Why

    How to Save Money in Nigeria Despite High Inflation

    How to Save Money in Nigeria Despite High Inflation

    Top 5 Countries Nigeria Import Goods From

    Top 5 Countries Nigeria Import Goods From

    The Diminishing Value of ₦100: A Reflection on Nigeria's Inflation

    The Diminishing Value of ₦100: A Reflection on Nigeria’s Inflation

    ATM Fees - Should Banks or Nigerians Bear the Cost of ATM Withdrawals?

    ATM Fees – Should Banks or Nigerians Bear the Cost of ATM Withdrawals?

    Why Nigeria Must Break Free from its One-city Economic Model

    Why Nigeria Must Break Free from its One-city Economic Model

    Reviving the Naira: Why Nigeria Must Produce More and Import Less

    Reviving the Naira: Why Nigeria Must Produce More and Import Less

    Atiku, Obi, and El-Rufai: A New Political Force or Another Failed Alliance?

    Atiku, Obi, and El-Rufai: A New Political Force or Another Failed Alliance?

No Result
View All Result
Theinfong
  • HOME
  • NEWS
    8 Ways to Protect Your Business from Cyber Threats

    8 Ways to Protect Your Business from Cyber Threats

    These 5 Africa’s Billionaires Are Getting Richer - Here’s Why

    These 5 Africa’s Billionaires Are Getting Richer – Here’s Why

    How to Save Money in Nigeria Despite High Inflation

    How to Save Money in Nigeria Despite High Inflation

    Top 5 Countries Nigeria Import Goods From

    Top 5 Countries Nigeria Import Goods From

    The Diminishing Value of ₦100: A Reflection on Nigeria's Inflation

    The Diminishing Value of ₦100: A Reflection on Nigeria’s Inflation

    ATM Fees - Should Banks or Nigerians Bear the Cost of ATM Withdrawals?

    ATM Fees – Should Banks or Nigerians Bear the Cost of ATM Withdrawals?

    Why Nigeria Must Break Free from its One-city Economic Model

    Why Nigeria Must Break Free from its One-city Economic Model

    Reviving the Naira: Why Nigeria Must Produce More and Import Less

    Reviving the Naira: Why Nigeria Must Produce More and Import Less

    Atiku, Obi, and El-Rufai: A New Political Force or Another Failed Alliance?

    Atiku, Obi, and El-Rufai: A New Political Force or Another Failed Alliance?

  • ENTERTAINMENT
    • All
    • Comedy
    • Gist / Viral
    • Music
    • Nollywood
    • Reality TV Show
    EFCC-France Partnership Signals a New Era in Nigeria’s Fight Against Cybercrime

    EFCC-France Partnership Signals a New Era in Nigeria’s Fight Against Cybercrime

    Top 9 Venues in Nigeria for Concerts and Large Gatherings

    Top 9 Venues in Nigeria for Concerts and Large Gatherings

    P-Square Family Feud: Jude Okoye Arrested for ₦1.3 Billion Fraud

    P-Square Family Feud: Jude Okoye Arrested for ₦1.3 Billion Fraud

    the largest music market in Africa

    What is the Largest Music Market in Africa?

    What is the Ranking of Nigeria's Music Industry in the World?

    What is the Ranking of Nigeria’s Music Industry in the World?

    how do I get Netflix to fund my film as a Nigerian?

    How Do I Get Netflix to Fund My Film as a Nigerian?

    can I sell my movie to Netflix as a Nigeria?

    Can I Sell My Movie to Netflix as a Nigerian?

    how to attract and secure sponsors for your film

    How to Attract and Secure Sponsors for Your Film

    different ways to fund a film

    What Are Different Ways to Fund a Film?

    • Reality TV Show
    • Nollywood
    • Comedy
    • Music
  • GIST / Social Media drama
    8 Ways to Protect Your Business from Cyber Threats

    8 Ways to Protect Your Business from Cyber Threats

    These 5 Africa’s Billionaires Are Getting Richer - Here’s Why

    These 5 Africa’s Billionaires Are Getting Richer – Here’s Why

    How to Save Money in Nigeria Despite High Inflation

    How to Save Money in Nigeria Despite High Inflation

    Top 5 Countries Nigeria Import Goods From

    Top 5 Countries Nigeria Import Goods From

    The Diminishing Value of ₦100: A Reflection on Nigeria's Inflation

    The Diminishing Value of ₦100: A Reflection on Nigeria’s Inflation

    ATM Fees - Should Banks or Nigerians Bear the Cost of ATM Withdrawals?

    ATM Fees – Should Banks or Nigerians Bear the Cost of ATM Withdrawals?

    Why Nigeria Must Break Free from its One-city Economic Model

    Why Nigeria Must Break Free from its One-city Economic Model

    Reviving the Naira: Why Nigeria Must Produce More and Import Less

    Reviving the Naira: Why Nigeria Must Produce More and Import Less

    Atiku, Obi, and El-Rufai: A New Political Force or Another Failed Alliance?

    Atiku, Obi, and El-Rufai: A New Political Force or Another Failed Alliance?

  • SPORTS
    6 richest English football clubs based on their earnings in 2023/2024 season

    Top 6 Richest English Football Clubs Based on Their Earnings in 2023/2024 Season

    Who is Éric Chelle, Super Eagles' New Coach?

    Who is Éric Chelle, Super Eagles’ New Coach?

    10 top sports events o look forward to in 2025

    10 Top Sports Events to Look Forward to in 2025

    Tinubu Awards MON to each Super Eagles Player, gifts them flats & plot of lands

    Tinubu Awards MON to each Super Eagles Player, gifts them flats & plot of lands

    “You did your best. You are part of a team that brought home a silver medal which we last won at AFCON 2000" Senator John Owan Enoh encourages Iwobi

    “You did your best. You are part of a team that brought home a silver medal which we last won at AFCON 2000″ Senator John Owan Enoh encourages Iwobi

    "I understand how it feels giving you a disappointing night" Nwabali emotional as he apologizes to Nigerians after Super Eagles' lost to Ivory Coast

    “I understand how it feels giving you a disappointing night” Nwabali emotional as he apologizes to Nigerians after Super Eagles’ lost to Ivory Coast

    "I just wanted to make nigerians happy, i want them to feel good," - Super Eagles Goalkeeper, Stanley Nwabali speaks (VIDEO)

    “I just wanted to make Nigerians happy, i want them to feel good,” – Super Eagles Goalkeeper, Stanley Nwabali speaks (VIDEO)

    Ngozi Okonjo iweala Super Eagles

    “Let’s get it done” – Okonjo-Iweala urges Super Eagles to defeat South Africa

    Adapting to the Varied World of Tennis Court Types

    Adapting to the Varied World of Tennis Court Types

  • Articles & Editorials
    8 Ways to Protect Your Business from Cyber Threats

    8 Ways to Protect Your Business from Cyber Threats

    These 5 Africa’s Billionaires Are Getting Richer - Here’s Why

    These 5 Africa’s Billionaires Are Getting Richer – Here’s Why

    How to Save Money in Nigeria Despite High Inflation

    How to Save Money in Nigeria Despite High Inflation

    Top 5 Countries Nigeria Import Goods From

    Top 5 Countries Nigeria Import Goods From

    The Diminishing Value of ₦100: A Reflection on Nigeria's Inflation

    The Diminishing Value of ₦100: A Reflection on Nigeria’s Inflation

    ATM Fees - Should Banks or Nigerians Bear the Cost of ATM Withdrawals?

    ATM Fees – Should Banks or Nigerians Bear the Cost of ATM Withdrawals?

    Why Nigeria Must Break Free from its One-city Economic Model

    Why Nigeria Must Break Free from its One-city Economic Model

    Reviving the Naira: Why Nigeria Must Produce More and Import Less

    Reviving the Naira: Why Nigeria Must Produce More and Import Less

    Atiku, Obi, and El-Rufai: A New Political Force or Another Failed Alliance?

    Atiku, Obi, and El-Rufai: A New Political Force or Another Failed Alliance?

No Result
View All Result
Theinfong
No Result
View All Result
Home Articles & Editorials

The Dangers of Living Beyond Your Means: How to Not Get into It (And Get Out of It!)

Paulinus O. by Paulinus O.
June 24, 2023
in Articles & Editorials
Reading Time: 4 mins read
47 1
A A
0
The Dangers of Living Beyond Your Means: How to Not Get into It (And Get Out of It!)
Share on FacebookShare on Twitter

Spiralling debt, unaffordable bills and a hard-to-maintain lifestyle are all consequences of living beyond your means.

Whether you’re spending all your money as soon as you get paid – leaving you with little for the rest of the month – or racking up credit card debt, living beyond your means can leave you in dangerous financial situations.

In this article, we’ll look at what living beyond your means actually is, what are some of the warning signs, and how to avoid it.

What does it mean to live beyond your means?

Living beyond your means refers to spending more money than you can afford based on your income, assets, and financial obligations.

READALSO:

8 Ways to Protect Your Business from Cyber Threats

These 5 Africa’s Billionaires Are Getting Richer – Here’s Why

It can look different from person to person, but it usually involves things like using credit, borrowing money or depleting savings to maintain a particular lifestyle.

The lifestyle will exceed your financial resources – for example, it could include things like living in an expensive house with high mortgage payments, taking out finance on a flashy car or going out to eat at high-end restaurants.

How do people usually get into these situations?

Not living beyond your means might seem simple – if you can’t afford to live a certain way, just don’t.

In reality, however, it’s not that simple. In today’s consumerist world, with adverts for all sorts of products all over social media, it’s easy to get lured into buying sophisticated items one might not necessarily need.

Other people also like to feel instant gratification, buying items as a “reward” as soon as they receive their wages.

Or you may fall into this trap due to poor budgeting and financial planning, lack of financial literacy or peer pressure.

Ramifications of accumulating debt

Accumulating debt by living beyond your means can have far-reaching consequences. Here are some of the issues that accumulating debt can cause:

  • Financial stress and anxiety, negatively impacting your mental and emotional well-being
  • Straining relationships, causing conflicts and arguments over financial matters
  • Further difficulties with finances, due to high interest rates and late payment fees
  • Anxiety about the possibility of bailiffs taking items away to repay debt, with the possibility of homelessness
  • Hampering the ability to save for emergencies, retirement, or other important life goals
  • Debt dependency, where you continually borrow to sustain your lifestyle

Ways people live beyond their means

It’s important to note that accumulating debt isn’t the only way that people live beyond their means. In reality, there are several different examples. Indeed, some max out credit cards to afford high-end fashion or first-class travel experiences.

Others spend all of their money as soon as they receive it or shortly after, leaving them with minimal funds for the rest of the month and no chance to save for emergencies or retirement.

Another example is addictive behaviours such as excessive gambling, including playing in the best high roller online casinos that often evoke a sense of luxury and prominence.

However, while the potential rewards may be alluring, it is generally a slippery slope that can result in substantial financial losses.

How to stop living beyond your means

If you’re reading this article and nodding your head in agreement, it might be useful to learn some tips to stop living beyond your means.

The first step is recognising that you have unhealthy financial habits. Then, there are some useful steps that you can take to break the cycle:

  • Create a budget: Develop a realistic budget that outlines your income, expenses, and savings goals. You could use various apps to do this – or create your own budget in an Excel spreadsheet. Track your spending and identify areas where you can cut back.
  • Prioritize essentials: Ensure that you cover your necessary expenses, such as housing, utilities, food, and healthcare before allocating funds to discretionary items.
  • Reduce debt: Develop a repayment plan to tackle your existing debts systematically – try to move credit card debt to 0% interest cards if possible.
  • Practice delayed gratification: Instead of instant purchases, think about items for 24 hours to one week before buying them. This will help you decide if you really want and need them.
  • Increase financial literacy: Educate yourself about personal finance, budgeting, and investing. This knowledge will empower you to make informed financial decisions.
  • Consider what your “living beyond your means” looks like: Are you always jetting off to tropical destinations, or do you buy too many clothes? Once you diagnose the sticking points that cause you to live beyond your means, you should be able to cut back.
  • Adjust your lifestyle: Once you’ve discovered your sticking points, work out how you can cut back on them, making necessary adjustments to align with your financial means.

Final thoughts

Living beyond your means is a financial minefield that can have dire consequences. But by recognising it and taking control of your spending, it’s possible to break free from the cycle, enabling you to save and enjoy financial security. It can be tough to make the change, but it’s no way impossible!

Discussion about this post

RECENT UPDATES

8 Ways to Protect Your Business from Cyber Threats

8 Ways to Protect Your Business from Cyber Threats

These 5 Africa’s Billionaires Are Getting Richer - Here’s Why

These 5 Africa’s Billionaires Are Getting Richer – Here’s Why

How to Save Money in Nigeria Despite High Inflation

How to Save Money in Nigeria Despite High Inflation

Top 5 Countries Nigeria Import Goods From

Top 5 Countries Nigeria Import Goods From

The Diminishing Value of ₦100: A Reflection on Nigeria's Inflation

The Diminishing Value of ₦100: A Reflection on Nigeria’s Inflation

ATM Fees - Should Banks or Nigerians Bear the Cost of ATM Withdrawals?

ATM Fees – Should Banks or Nigerians Bear the Cost of ATM Withdrawals?

10 proven ways to reduce data consumption in Nigeria

10 Proven Ways to Reduce Data Consumption in Nigeria

Why Nigeria Must Break Free from its One-city Economic Model

Why Nigeria Must Break Free from its One-city Economic Model

Load More

POPULAR THIS WEEK

  • 13 actresses who gave blow j*b on screen – #12 & #1 will definitely stun you! (With Photos)

    13 actresses who gave blow j*b on screen – #12 & #1 will definitely stun you! (With Photos)

    22388 shares
    Share 8955 Tweet 5597
  • 10 Pornstars who love their job so much.. (With Pictures)

    12761 shares
    Share 5104 Tweet 3190
  • The 15 bustiest athletes that will make you watch women’s sports – You just can’t stop staring at #1! (With Pictures)

    14672 shares
    Share 5869 Tweet 3668
  • 21 Athletes who’ve slept with porn stars – #1 will shock you! (With Pictures)

    9490 shares
    Share 3796 Tweet 2373
  • The 12 flattest celebrity butts in Hollywood – #1 will leave you in stitches! (With Pictures)

    9367 shares
    Share 3747 Tweet 2342
  • The 20 hottest Power Ranger babes (With Pictures)

    3319 shares
    Share 1328 Tweet 830
  • 14 Shocking photos that prove Kim Kardashian’s butt is completely fake

    42435 shares
    Share 16954 Tweet 10597
Theinfong

Your best source for noteworthy updates. Designed by WebAndName.

Navigate Site

  • HOME
  • NEWS
  • ENTERTAINMENT
  • GIST / Social Media drama
  • SPORTS
  • Articles & Editorials

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • HOME
  • NEWS
  • ENTERTAINMENT
    • Reality TV Show
    • Nollywood
    • Comedy
    • Music
  • GIST / Social Media drama
  • SPORTS
  • Articles & Editorials

Your best source for noteworthy updates. Designed by WebAndName.