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StitcherWe got a budget confession that’s too good (and relatable) not to share. A listener shared their finances along with the moments that make money feel impossible to manage. In this episode, our goal is to figure out ways they can refine their budget, stop living paycheck to paycheck, and achieve their financial goals without depriving them of the things they value.
You need to live and budget in your reality, not in your ideal.
Miranda and Josh’s Background
Miranda and Josh have three kids with a monthly household income of $7,300. Josh is the sole provider. Their financial goals include paying off credit card and vehicle debt, building an emergency fund, and having “fun” money without feeling like they’re living paycheck to paycheck. They value their new home, outdoor activities, ATVs/UTVs, and plans to improve their property with a garden, fencing, and two covered patios.
Their main challenge is finding a budget that works for them because restrictive plans often trigger overspending due to impulsive tendencies. While habit changes are slowly helping, they need a budget that supports their lifestyle and occasional impulse purchases.
The Next Steps For Them
Jen and Jill start by looking at Miranda and Josh’s spending and see that the problem is not a lack of discipline or income. The real issue is fantasy budgeting and not having a plan for impulse spending. They remind us that money is always going somewhere. You can let it go for a quick dopamine hit and guilt, or you can decide ahead of time where it goes.
Right now, Miranda and Josh hold back because it feels wrong to spend on anything fun while they have credit card debt, ATVs, and an emergency fund that is not where they want it. They show that strict rules are not the answer. The key is to live and budget in reality while still making space for the things that matter. They guide Miranda and Josh toward practical steps that help them pay down debt, grow their emergency fund, and enjoy the things they love.
What’s a hidden strength in how they’re managing their money?
Jen loves that they are in it together. They are aware of their impulsive tendencies and willing to work on their money, and she believes being intentional, even with a no-spend challenge, could bring big improvement. Jill, however, sees nothing but grit, creativity, problem solving, and fun with these people which she loves.
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Thanks so Much for Listening!
Thanks so much for listening. We love love love reading your kind reviews of our book Buy What You Love Without Going Broke and we especially loved this one from:
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Read this book!!
I’ve had the (dis)pleasure of reading a few books in the past that guide you on how to manage money or be more smart with your money but it always left me feeling more dejected than inspired. I can honestly say that this book left me feeling like getting control of my finances and improving my spending habits was attainable. I loved the pop culture references used throughout the book from chapter titles to sayings sprinkled through the book. I also enjoyed the way the authors included scenarios of people they knew who had money issues akin to the section at hand which made it easier to digest knowing others had been there and got themselves to a better place using the tools provided in the book.
If you want to check out our monthly challenge community head to frugalfriendspodcast.com/club to see what challenge we have coming up next.
Keep leaving us reviews on iTunes or Stitcher, and sending the screenshot to reviews@frugalfriendspodcast.com. And don’t forget to share your favorite quote from the episode by using the hashtag #FrugalFriendsNote. 😉