Welcome to the forums...
1: You're above the point limit because your players contracts add up to over 1,000,000 points. The best way to bring this down under the point limit, is to trade players who are getting alot of points for players who have expiring contracts. When their contracts expire, it takes their salary off the amount of points you're paying which means you would be able to buy free agents if you can afford it.
2: You don't really
have to be under the point limit at any stage... it just comes in useful when you want to sign free agents basically. It is pretty difficult to stay under the cap limit though, so if there's a player you want the best idea is to trade for him.
Anything you don't understand, just ask
