Budgeting Tips for Families Living on ONE Income

BiggerPockets Money Podcast

Can you really be a one-income family in 2024? Not if you don’t know how to budget! To achieve her money goalswhile living on a single middle-class income, Emy knew she had to take control of her finances and seize any opportunity to save money. Single or married, you’ll learn to do the same in this episode!

Welcome back to the BiggerPockets Money podcast! Today, we’re chatting with budgeting coach Emy Lee, who was able to achieve her lifelong dream of being a stay-at-home mom by cleaning up her family’s finances. Of course, this was no easy feat. Growing up, Emy was taught very little about personal finance. It was only after shifting her mindsetcreating a budget, and building smart money habits that she was able to make raising a family on one income a reality.

In this episode, Emy shares some of her top budgeting tips—from saving money on groceries to avoiding common spending triggers. You’ll also learn about the 50/30/20 rule that makes budgeting easy, the “spendfluencing” problem to be mindful of when scrolling through social media, and the budgeting hack people with irregular income can use to keep their finances in order!

In This Episode We Cover

How Emy raises a family on a single middle-class income

Lowering your grocery bill each month with simple shopping hacks

The “carryover” fund that people with variable income MUST have

How to avoid “spendfluencing” pitfalls on social media

The most common spending triggers (and how to combat them!)

Creating a realistic budget for your family using the 50/30/20 rule

And So Much More!

Links from the Show

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