An Insight into My Finances and Budget: Single Income & Debt Free

Am I saving enough? Am I overspending? Do other people my age spend as much as I do?

These are the questions I ask myself often as I navigate the complexities of personal finance. Balancing income, expenses, and aspirations isn’t always straightforward. But over the years, I’ve found that taking a close, honest look at my budget helps bring clarity. This journey isn’t about being perfect—it’s about being intentional. Here’s a snapshot of how we’ve approached our finances and the steps we’ve taken along the way.

A Few Notes Before We Begin

For the majority of the last decade—about 90% of it—we were a single-income family. During that time, we focused on raising our kids, homeschooling, and my wife dedicated herself to being at home with them.

If at any point this comes across as arrogant, please stop reading and email me (elioverbey@gmail.com) —that’s absolutely not my intention. My hope is that you’ll feel encouraged, maybe even inspired, and think, Hey, I can do that too.
This isn’t a perfect apples-to-apples comparison. Everyone’s journey is unique, and our circumstances may look very different from yours.
We got married at 21, and for the first few years, we didn’t make much. Our weekly grocery budget was just $40, and our combined income was modest: $14,000 in the first year, $22,000 the second, and $45,000 the year after that. Despite the tight budget, we made it a priority to live within our means.
For most of these years, we’ve been a single-income household. My wife is a self-published author on Amazon, and I couldn’t be prouder of her work. Seeing her thrive as her own boss has been inspiring. (In my opinion, the most rewarding dollars are the ones earned independently. I’ve never quite done it myself, but she has.)
Before becoming a writer, my wife was—and still is—a dedicated homemaker. It’s arguably the hardest and most thankless job in the world. Her commitment to staying at home and serving our family has been invaluable, enabling me to stay disciplined and focused in my work. I owe much of my professional success to her unwavering support and sacrifices. Note: This was, and still is, her decision. It’s something we discussed while dating (at 20!), and Bekah always knew she wanted to be a mom.
We’re raising three wonderful kids, which keeps life busy, joyful, and full of surprises.
We’re blessed to be completely debt-free, including owning our home and cars outright. This freedom allows us to focus on our goals and live with less financial stress.
My faith in Jesus is the foundation of everything I do. I don’t aspire to wealth because, in Him, I already have everything I’ll ever need.
Over the past four years, our average annual spending has been between $80,000 and $85,000. This figure includes everything—our mortgage, car payments, groceries, utilities, insurance, and all the other expenses that come with raising a family. It’s a comprehensive snapshot of what it costs to maintain our lifestyle. (This is from YNAB)
For context, I make the salary listed for a Sr. Revenue Operations Manager.

Below are the key habits and principles that have worked for us. Take what resonates and leave the rest.

Budgeting Tool: YNAB

I’ve been using YNAB (You Need a Budget) for 10 years now, and I highly recommend it. Yes, I grimace a little when the subscription renews, but it’s worth every penny. YNAB has been the single best tool for helping me stay on top of our finances.

And yes, that’s a referral link—but my recommendation is 100% genuine. If you’re serious about getting control of your budget, give it a try.

Prioritize Generosity

One of the pillars of our financial philosophy is generosity. We aim to give at least 10% of our pre-tax income to our church, and when possible, we contribute more to organizations like Compassion International and Samaritan’s Purse. We’ve had the privilege of sponsoring a child through Compassion International for nearly our entire marriage.

Why? Because money shows where our heart is. It’s not just a resource; it’s a tool to make a difference in the world and reflect our love and belief in Jesus.

My wife has access to every account, and we make all financial decisions together. Sharing everything creates accountability, trust, and a sense of ownership in every dollar we earn, spend, or save.

Work Remotely and Live Affordably

One of the biggest financial shifts we made was moving from Boston to Raleigh, NC, while maintaining my Boston salary. Remote work has been a blessing, giving us the flexibility to live in an affordable area while stretching our dollars further.

If you’re working remotely: make sure your employer compensates you fairly regardless of where you live. Moving somewhere more affordable can free up resources for savings, investments, or simply living with less stress. Why should your salary be determined by where you live? (Huge thanks to Circle and Help Scout for valuing employees equally, regardless of location.)

Cut Expenses

We’re big on eliminating unnecessary costs. Here are some of the things we’ve done:

TV: We use an antenna instead of streaming services, saving $80 a month on YouTube TV.
Dropped Amazon Prime: It encouraged too much impulse buying. Free shipping is still available if you spend $35.
Switched from AT&T to Mint Mobile: We now pay just $540 per year for our cell service. Here’s the referral link if you’re interested.
Haircuts: Bekah cuts my hair, and I cut hers. This was something she suggested. It’s simple, cost-effective, and works for us (and, I’m really good at it).
Eating Out: We limit eating out to once a week, max. Over time, we’ve learned to make even better meals at home.
Coffee: We rarely buy coffee out. I roast my own beans or stock up on Counter Culture when it’s on sale.

Do Great Work, Always

Whatever your hand finds to do, do it with all your might. Work is more than a paycheck; it’s an opportunity to grow, contribute, and build a reputation for reliability.

Great work often leads to great opportunities, whether that’s promotions, equity, or simply the satisfaction of knowing you gave your best.

Get Equity

Equity has been a game-changer for us. I’ve been fortunate to work with amazing people at companies like Help Scout and now Circle. At Help Scout, I stayed for 9 years and vested nearly everything. At Circle, I’m just getting started, but I know the potential.

If you have the opportunity to work for a company that offers equity, take it. It can be a long-term investment in your financial future.

Looking back, I do wish we had purchased a house sooner. However, our affordable living situation during those early years allowed us to save enough to put 32% down when we finally did buy a home.

These are the steps we’ve taken to build a financial life that works for us. What works for you will look different.