Meaning of “overextend” in the English Dictionary

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"overextend" in Business English

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overextendverb [ I or T ]

uk /ˌəʊvərɪkˈstend/ us

FINANCE to spend too much money, or borrow more money than you can pay back:

It is a sad fact that many people overextended their mortgage commitments and now face difficulties.
overextend yourself Borrowers overextend themselves in refinancing to cover unforeseen expenses.

to try to do more work or other activities than you can manage:

overextend yourself The fear of failure can lead young people to overextend themselves.
He rejects opportunities that he thinks would overextend the firm's resources.

(Definition of “overextend” from the Cambridge Business English Dictionary © Cambridge University Press)