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5 Signs You’re Overspending

 

 

  1. You don’t follow a budget – A budget is a spending blueprint to guide you through the month. Not following a budget is like “free reign” for spending, and can result in unchecked overspending.
  2. Dipping into savings - Although it may seem harmless now, dipping into your savings can cause devastating long-term impacts. This includes retirement funds, as well! Taking from your future to support yourself now is a bad sign.
  3. Hitting (or exceeding) your credit limit – Credit scores are partially calculated by your credit utilization. Being at or over the limit will have a serious impact on your credit and could lead to denied loans.
  4. Struggling to make minimum payments - Minimum payments are roughly 2% of the account balance. If you’re struggling to make the minimum monthly payment on your cards, you probably are relying too heavily on credit and have more debt than you can handle.
  5. Living paycheck to paycheck- If you find you are living paycheck to paycheck or not paying bills on time, you may be on the verge of a disaster. If you have even one financial emergency, this can put you in a serious financial crisis.

American Consumer Credit Counseling (ACCC) is a leading source for personalized debt management advice and programs to consolidate your debt. If you are interested in consolidating debts, contact one of ACCC's credit advisors to learn how to consolidate bills without having to take a consolidation loan as would be suggested by some other debt relief agencies. As a Better Business Bureau accredited credit counseling agency, you can count on ACCC for fair and honest help with credit issues. We are also approved by the Department of Justice to provide pre-bankruptcy counseling and post-bankruptcy credit counseling courses.

American Consumer Credit Counseling - Consolidate Debts - Better Business Bureau American Consumer Credit Counseling - Consolidate Debts - Mass Housing Approved National Industry Standards for Homeownership Education and Counseling American Consumer Credit Counseling - Consolidate Debts  - Council on Accreditation American Consumer Credit Counseling - Consolidate Debts  - NFCC Member