- More than 1 in 3 Indians live from paycheck to paycheck
- 49% Indians manage their spending very well on payday. 20% go crazy and spend more than usual.
- 20% Indians would borrow money in case of emergency.
Following are the signs you are Overspending:
- You don’t Follow Budget
A budget refers to the spending blueprint to steer you through the month. Not following a proper budget can result in unchecked overspending.
- Exceeding Credit Limit
Being at or over the limit will have a considerable impact on your credit and could also result to rejection of loans.
- Not making the minimum payments
Minimum payment accounts for 2% of the outstanding balance. If you do not pay the minimum payment, you probably are relying too much heavily on credit and have more debt that you can manage.
- Living paycheck to paycheck
If you are living paycheck to paycheck, or not paying timely bills, you might be on the verge of disaster. If you have even one financial emergency, it might put you in a serious financial crisis.
How not to overspend?
- Understand your spending triggers
- Track your spending
- Learn to budget your money
- Do not dip into your savings
- Avail instant short-term loan from RupeeRedee
You can avail instant short term loans for your daily needs.
Overcome your spending problems now!