The verb is pronounced /oʊvə(r)spend/. The noun is pronounced /oʊvə(r)spend/.
( overspent)
1.
If you overspend , you spend more money than you can afford to.
Don’t overspend on your home and expect to get the money back when you sell...
I overspent by £1 on your shopping so I’m afraid you owe me...
He argued that local councils which overspend should be forced to face fresh elections.
VERB : V on n , V by amount , V
2.
If an organization or business has an overspend , it spends more money than was planned or allowed in its budget. ( BRIT BUSINESS; in AM, use overrun )
Efforts are under way to avoid a £800,000 overspend.
N-COUNT : usu sing