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Speaker 1: Frugal February, the twenty eight day money reset that gives

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Speaker 1: you back control. Welcome back to Sugar Mama's Fireplay, the

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Speaker 1: podcast where we ignite your financial independence, fuel your early

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Speaker 1: retirement goals and dreams, and help you build lasting wealth

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Speaker 1: one mindful step at a time. I am your host,

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Speaker 1: Cannah Campbell. I'm a financial planner, an author, and someone

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Speaker 1: who truly understands what it feels like to be really

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Speaker 1: doing your best, trying your best in a world that

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Speaker 1: feels increasingly expensive, demanding, and at times incredibly overwhelming. Now,

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Speaker 1: today's episode, unfortunately is not a start here episode, but

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Speaker 1: I've got something even better for you. It's actually one

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Speaker 1: of my I don't know, I'll say favorites but my

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Speaker 1: love hate favorites times of the year, and that's because

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Speaker 1: it's all about Frugal February. And this year is extra

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Speaker 1: special because it actually marks the ten years of me

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Speaker 1: running this financial challenge with the Sugar Mamma community. So

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Speaker 1: if you're feeling financially stressed and stretched right now, mentally tired,

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Speaker 1: or just craving some clarity and comfort and control again

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Speaker 1: when it comes to your money and your money management,

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Speaker 1: this episode is perfect for you right now, because Frugal

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Speaker 1: February is not actually about deprivation, though it sounds like

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Speaker 1: it with the word frugal, And it's not about punishment either,

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Speaker 1: and it's never about shame. It's about simply pressing pause

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Speaker 1: in our life and reconnecting with our values and reminding

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Speaker 1: ourselves that we can actually feel confident and capable with

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Speaker 1: money again thanks to frugal February and the best we're

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Speaker 1: all doing frugal February together. All right, Let's start with

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Speaker 1: what frugal February is really about, because this is I

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Speaker 1: think really important. The title frugal is a little bit misleading.

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Speaker 1: It undervalues it, all right. So Frugal February is not

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Speaker 1: about living on two minute noodles and rice and beans.

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Speaker 1: It's not about saying no to everything that you enjoy.

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Speaker 1: It's not about isolating yourself socially either, or making your

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Speaker 1: life feel miserable for twenty eight days. What frugal February

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Speaker 1: is really about. It's a financial reset, a break from

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Speaker 1: the unconscious spending that we're all guilty of, especially after

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Speaker 1: Christmas and the boxing day sales, and it's a chance

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Speaker 1: to reassess what really does add value to our lives

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Speaker 1: and make us feel happy, and it's also a great

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Speaker 1: way to sharpen our money skills for the rest of

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Speaker 1: the year. And I often describe frugal feed is a

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Speaker 1: bit of a financial fast, but it's with intention, compassion

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Speaker 1: and curiosity. And after Christmas school holidays, which I don't

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Speaker 1: know about you, has literally sent me broke with all

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Speaker 1: the activities. Obviously, all the temptations come from the Boxing

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Speaker 1: day sales, some of which actually started before Boxing day

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Speaker 1: and that end of your exhaustion. So many of us

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Speaker 1: are spending on autopilot at the moment. I put my

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Speaker 1: hand up here as well, and Frugal February is all

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Speaker 1: about helping us slow hat down and ask is this

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Speaker 1: actually worth it to me? Do I really value it?

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Speaker 1: And having that powerful awareness which we all know is

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Speaker 1: life changing. So why would you want to do Frugal February?

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Speaker 1: Is it really worth doing? Well? I think so, and

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Speaker 1: this is why so many people reach out to me,

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Speaker 1: going are we doing it this year? And of course

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Speaker 1: the answer is yes. So here's why this challenge has

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Speaker 1: really stood the test of time. Like ten years is

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Speaker 1: impressive all right? Number one, it gives you so much

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Speaker 1: control all back. You know, when the cost of living

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Speaker 1: pressure is high, people can feel like very powerless. Frugal

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Speaker 1: February flips the script. You know, you move from reacting

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Speaker 1: to actually choosing, and that's empowering. Number two is it

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Speaker 1: gives you clarification around your values. You know, when you

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Speaker 1: stop spending mindlessly, you quickly learn what you truly miss

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Speaker 1: and what you actually don't. So many times I've done

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Speaker 1: frugal February, I've realized there are a lot of things

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Speaker 1: I just didn't miss and was actually wasting a lot

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Speaker 1: of money on. It was able to then cut that

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Speaker 1: from my budget with the savings flowing on year after year.

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Speaker 1: Number three is it builds confidence cash flow confidence. There's

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Speaker 1: something really incredibly empowering about watching your savings grow day

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Speaker 1: by day knowing that you have actually created that outcome

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Speaker 1: purely on your own through exercising self control and discipline,

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Speaker 1: and that feels really sexy. Number four is it resets habits,

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Speaker 1: and not just for February. This isn't about twenty eight

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Speaker 1: days of sacrifice. It's actually about learning new skills, or

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Speaker 1: refining existing skills, or picking up all tools and skills

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Speaker 1: that you haven't used for a while that you can

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Speaker 1: then use for the rest of the year, especially when

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Speaker 1: money feels really tight again. And most importantly, this challenge

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Speaker 1: is not about how much you save. It's about how

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Speaker 1: intentional you become and what you actually learn about yourself

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Speaker 1: along the next twenty eight days. So how do we

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Speaker 1: do frugal February? This is like the practical side, particularly

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Speaker 1: if you've never done this before. Okay, So step one

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Speaker 1: is to have only one clear goal. So choose a

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Speaker 1: really realistic savings goal, and like, please don't compare yourself

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Speaker 1: to me or anyone else. It might be the goal

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Speaker 1: to save one hundred dollars, it might be the goal

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Speaker 1: to save two hundred and fifty dollars, it might be

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Speaker 1: the goal to save one thousand dollars. Now this year,

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Speaker 1: for me, my goal is four hundred dollars. Previously, I've

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Speaker 1: had a goal to trying to a thousand dollars, but

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Speaker 1: I am very realistic as to what my life looks

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Speaker 1: like right now, and I've already been using lots of

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Speaker 1: frugal seals already, so I know that thousand dollars for

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Speaker 1: me right now is unrealistic. So I'm setting my target

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Speaker 1: of four hundred dollars and what will I do with

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Speaker 1: that four hundred dollars. Well, yes, it is in detail

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Speaker 1: in my goal and to share with you what that

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Speaker 1: goal is for four hundred dollars, and that is to

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Speaker 1: make sure that four hundred dollars is invested in the

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Speaker 1: one thousand dollars project, which is worth over three hundred

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Speaker 1: and sixty five thousand dollars. So I'm excited about using

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Speaker 1: that four hundred dollars to invest and to buy some

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Speaker 1: more shares in the Australian stock market. So make sure

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Speaker 1: whatever goal you pick and the amount gives you great

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Speaker 1: sense of excitement and purpose to this challenge. And don't

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Speaker 1: make it too easy. You want it to be a stretch,

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Speaker 1: but you want to be able to see yourself achieving

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Speaker 1: this goal and feeling really good about it. And you

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Speaker 1: know ideas and inspirations to where what you could do

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Speaker 1: with this money. You know, you might want to put

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Speaker 1: it towards say credit card debt. You could use it

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Speaker 1: to put towards emergency savings. You might want to do

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Speaker 1: what I'm doing and go and invest that money. This

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Speaker 1: could be the start of your own thousand dollars project.

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Speaker 1: Share portfolio, or perhaps you might want to look at

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Speaker 1: putting it towards your retirement plans, like such as you know,

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Speaker 1: putting it into superannuation. Obviously keeping in mind that you

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Speaker 1: can't get that money out of Super and there are

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Speaker 1: annual caps and limits as to how much you can

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Speaker 1: put in Super. But there's lots of different things you

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Speaker 1: can do this, or you might even want to use

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Speaker 1: this to put towards like a holiday savings fund. It

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Speaker 1: is completely up to you. Just have a very clear

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Speaker 1: goal and direction for where that money will land. Step

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Speaker 1: number two is to open up a dedicated savings account.

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Speaker 1: You need to use a spare online savings account, ideally

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Speaker 1: one with no fees that pays a high interest. And

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Speaker 1: make sure you go and nickname this account, which is

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Speaker 1: really important, my frugal February money, so you know exactly

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Speaker 1: what this account is for and where to put that money.

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Speaker 1: And this separation is really powerful and it helps keep

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Speaker 1: money safe but also helps keep it visible with your

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Speaker 1: clear instructions, directions, and purpose. Step three that is to

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Speaker 1: transfer the savings immediately like this is a golden rule,

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Speaker 1: Like please make sure you of all the rules. This

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Speaker 1: is the number one rule. You must follow. So every

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Speaker 1: time you save some money in that very moment, transfer

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Speaker 1: it immediately. So say, for example, I am about to

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Speaker 1: go and buy take away coffee for six dollars, but

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Speaker 1: then I remind myself, oh, hang on, you're doing frugal February.

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Speaker 1: Do you really need that coffee? You know? Are you

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Speaker 1: fine with the one you had at home already or here?

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Speaker 1: Maybe just get a tea somewhere else, or just have

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Speaker 1: a glass of tap water. Once you say no, immediately

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Speaker 1: pull out your phone and transfer that six dollars into

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Speaker 1: your frugal February account. Or another great example is you

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Speaker 1: know you might produce your grocery spend. You know, I

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Speaker 1: try and budget around three hundred and fifty dollars per

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Speaker 1: week on groceries. I'm going to try and find savings there.

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Speaker 1: So say I managed to get it down from three

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Speaker 1: fifty to say three hundred and twenty, I will go

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Speaker 1: and transfer that thirty dollars, assuming I'm s successful. Or

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Speaker 1: say I go through my budget, which will be part

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Speaker 1: of the exercises that we do during this month, and

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Speaker 1: that is, you know, looking at my subscriptions, say I

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Speaker 1: managed to like pause a subscription or cancel one or

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Speaker 1: downgrade that subscription and say I say fifteen dollars, I

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Speaker 1: need to make sure I transfer fifteen dollars to my

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Speaker 1: Frugal February account. If you do not transfer this money

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Speaker 1: any moment in the exact moment, that money will disappear,

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Speaker 1: it will evaporate it or get spent somewhere else. So

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Speaker 1: that is why this step is so important, and it

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Speaker 1: helps build momentum. That's how you're going to watch your

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Speaker 1: Frugal February account grow each day. Step number four is

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Speaker 1: to look beyond daily spending. So Frugal February isn't about

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Speaker 1: long term savings. It's about renegotiating utilities, you know, reviewing

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Speaker 1: your insurances, not canceling insurances, but just looking at where

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Speaker 1: you can potentially save some money or where you even

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Speaker 1: might need to actually change insurance policies and shop around.

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Speaker 1: It's about downgrading or even cancer some subscriptions that you

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Speaker 1: don't really use or don't value, or have like duplications.

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Speaker 1: It's about shopping around for a better deal, getting on

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Speaker 1: the phone and asking what other options do you have

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Speaker 1: that is better value for money and let people know, well,

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Speaker 1: if you don't help me, find a better deal, I

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Speaker 1: might have to look at walking walking elsewhere. So you know,

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Speaker 1: even just saving twenty dollars per month going forward, that's

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Speaker 1: still a massive win because this money really does add

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Speaker 1: up all right. Next, I want to talk about this

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Speaker 1: really important factor that comes into Frugal February and is

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Speaker 1: actually something one of the biggest challenges for me personally

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Speaker 1: with this challenge, and that's all around mental health. Because

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Speaker 1: mental health does matter. The Frugal February Challenge should really

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Speaker 1: support your mental health, not damage it. You are allowed

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Speaker 1: to say to you know, yes to things that really

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Speaker 1: do matter in your life and add value. You are

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Speaker 1: allowed to modify the challenge to suit your life. You

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Speaker 1: are allowed to be flexible if something unexpected comes up.

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Speaker 1: You know, for example, one of my best friends, it's

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Speaker 1: always her birthday smack bang in the middle of Frugal February,

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Speaker 1: and you know, I like to see her. I like

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Speaker 1: to buy her a bunch of flowers. I like to

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Speaker 1: take her out to lunch or dinner and have a

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Speaker 1: glass of champagne with her. So that's important to me,

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Speaker 1: and that stays in Frugal February. I still honor that.

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Speaker 1: I don't not see her or not celebrate our friendship,

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Speaker 1: our long term friendship because of frugal February is still there,

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Speaker 1: you know, because she fills my cup and likewise, So

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Speaker 1: this is not about perfection. It's about awareness and pride

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Speaker 1: and really connecting with the things that we'd really do

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Speaker 1: value so that they can stay firmly in our lives

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Speaker 1: and of course firmly in our budgets. So please remember,

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Speaker 1: being frugal does not mean being deprived. It means being intentional,

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Speaker 1: beautifully intentional. All right, let's not talk about, you know,

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Speaker 1: going beyond the dollars, and that is the emotional payoff.

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Speaker 1: Something really powerful happens during this challenge, frugal February, and

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Speaker 1: words can't really describe it unless you do it yourself,

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Speaker 1: and you do it properly. And those of you who

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Speaker 1: have done it with me a year after year will

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Speaker 1: know exis exactly what I'm talking about. And you are

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Speaker 1: those people that are dmming me on Instagram saying, hey,

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Speaker 1: are we doing frugal February again this year? So when

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Speaker 1: you do frugal February, this powerful shift happens deep within

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Speaker 1: you know, you start to realize you don't really need

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Speaker 1: as much as you thought you needed. You realize that

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Speaker 1: you are actually way more capable than you realized. You

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Speaker 1: realize that you can actually tighten your belt without panic

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Speaker 1: or feeling deprived. And this really does help build a

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Speaker 1: really strong foundation of financial resilience. And that resilience then

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Speaker 1: goes on to give you options, powerful options like investing

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Speaker 1: or starting something new like a new site, hustle or

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Speaker 1: a new business. Gives you the power and option to

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Speaker 1: be able to handle emergencies calmly, especially emergencies that cost

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Speaker 1: money to solve, and of course to say yes to

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Speaker 1: opportunities with confidence. You're building your emergence money. It's opportunity money,

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Speaker 1: it's growth money. It all starts with a sense of

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Speaker 1: financial control, which can all be birthed out of Frugal February.

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Speaker 1: I also want to talk about the power of community

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Speaker 1: and the sense of pride that comes from Frugal February,

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Speaker 1: particularly as you get towards the end. This challenge works

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Speaker 1: even better and is actually so much easier when it

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Speaker 1: is shared. I recommend if you're going to do Frugal

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Speaker 1: February with me, we tell our friends, we tell our

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Speaker 1: family members, and we invite our partners we invite our

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Speaker 1: family members, we invite our work colleagues, even our neighbors,

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Speaker 1: whoever you like, to do it with you let people

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Speaker 1: know you're doing Frugal February owner to be proud and

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Speaker 1: if someone questions it, stand tall. Let them know you

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Speaker 1: are doing some deep financial work and you are building

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Speaker 1: financial skills. They're going to serve you for the rest

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Speaker 1: of the year and make your life actually a lot easier,

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Speaker 1: and that you are choosing to be intentional over impulse.

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Speaker 1: There is something really powerful that happens during Frugal February,

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Speaker 1: particularly amongst my social circles, because my friends will have

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Speaker 1: a bit of a laugh with me about this, but

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Speaker 1: then they'll also do it with me as well, and

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Speaker 1: they'll also tell me how proud they are and how

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Speaker 1: much they love seeing on socials all the little different

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Speaker 1: things that I do, and how they have gone out

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Speaker 1: and done some of those things or all of those

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Speaker 1: things themselves, and they're proud to share with me the

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Speaker 1: savings that they found. So yes, I will be sharing

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Speaker 1: daily tips and encourage everybody on my Instagram account at

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Speaker 1: sugar Mama TV, and I'll be doing it through reels,

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Speaker 1: posts and of course Instagram stories, so please make sure

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Speaker 1: you are following me here so that you do not

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Speaker 1: miss out on anything. But more importantly, you never feel

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Speaker 1: like you're doing this alone because it really is a

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Speaker 1: very powerful community that comes together for Frugal February. And

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Speaker 1: I'm proud that is ten years old. All right, So

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Speaker 1: now you know all about what Frugal February is about.

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Speaker 1: You know, it's not about restriction. It's about freedom, freedom

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Speaker 1: from stress, freedom from being on autopilot and shopping linelessly,

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Speaker 1: freedom to make confident choices with your money. And if

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Speaker 1: you ever feel like you're being stretched in multiple directions

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Speaker 1: and you're feeling exhausted, shattered, or even just disconnected from

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Speaker 1: your finances, and I will there's a little bit within

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Speaker 1: me at the moment, especially after school holidays and having

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Speaker 1: enough time to be able to sit and focus and concentrate.

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Speaker 1: I really am excited about this financial reset and doing

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Speaker 1: it with you. So in summary, make sure you go

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Speaker 1: and set your goal, your financial goal and the direction

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Speaker 1: where you want these savings to land in your financial

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Speaker 1: life that are going to benefit you and uplift you.

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Speaker 1: Make sure you have that account open ready for your

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Speaker 1: frugal February money and start transferring, start saving, start saying no,

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Speaker 1: start being aware as to where there are financial leaks

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Speaker 1: in your budget, and be proud of every single dollar

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Speaker 1: that you conscious choose to transfer into this account. I

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Speaker 1: cannot wait to hear from yours to how much money

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Speaker 1: you have saved and where that money is going, what

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Speaker 1: you're going to do with it, and how it's going

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Speaker 1: to benefit your life, both immediately and well into the

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Speaker 1: long run. There is some exciting things to be to

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Speaker 1: come for all of us from doing this challenge together,

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Speaker 1: and it's just twenty eight days being a short month.

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Speaker 1: So thank you to everyone who has been a part

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Speaker 1: of this incredible community for the last nine years, and

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Speaker 1: welcome to everyone who's doing this with me for the

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Speaker 1: first time or the third time. Like it really is exciting,

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Speaker 1: and I promise to not get grumpy and bitter like

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Speaker 1: I have previously in the past. As always, please keep

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Speaker 1: that financial fire burning bright, make sure you're following me

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Speaker 1: on Instagram at sugar Mama TV, and of course send

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Speaker 1: me any questions that you may have about Frugal February.

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Speaker 1: Let the fun, let the savings, let the incitement begin.

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Speaker 1: This is Sugar mama's vibe s