What could go wrong with living beyond your means and buying on credit?

If someone is living beyond their means and almost buying through credit had the low chance to have money saving. The more you credit the lower money will be left because supposedly someone will invest assets not liabilities. Credit is an example of liabilities. Having said this, it is much important to live by not spending too much way beyond someone’s need or want because it might end up losing all your investments or property by paying all your credits.