1 00:00:01,280 --> 00:00:04,320 Speaker 1: Good morning everyone, and welcome back to Sugar Mama's Fireplay, 2 00:00:04,360 --> 00:00:07,560 Speaker 1: the podcast that ignites your financial journey with inspiring stories, 3 00:00:07,640 --> 00:00:12,200 Speaker 1: innovative strategies. I am your host, financial planner, Canna Campbell. Now, 4 00:00:12,240 --> 00:00:14,680 Speaker 1: as always, I must remind you of my general advice 5 00:00:14,800 --> 00:00:18,120 Speaker 1: warning of my financial planning license details. Please know that 6 00:00:18,200 --> 00:00:20,680 Speaker 1: this episode, along with every single other episode that you 7 00:00:20,720 --> 00:00:23,720 Speaker 1: may listen to, is always general and nature and for 8 00:00:23,920 --> 00:00:27,520 Speaker 1: educational purposes only. All right, with that out of the way, 9 00:00:27,760 --> 00:00:29,120 Speaker 1: let us be in because I want to share with 10 00:00:29,160 --> 00:00:46,360 Speaker 1: you my results from doing Frugal February. So, as you 11 00:00:46,400 --> 00:00:50,280 Speaker 1: guys know, every I do Frugal Tabor, which is where 12 00:00:50,320 --> 00:00:52,720 Speaker 1: I am the world's biggest heart ass for the month 13 00:00:52,840 --> 00:00:55,840 Speaker 1: of February, and all the money that I say, if 14 00:00:55,760 --> 00:00:58,640 Speaker 1: I put towards the thousand dollars project, which is a 15 00:00:58,640 --> 00:01:02,680 Speaker 1: diversified Australian share portfolio, and when I say Australians, actually 16 00:01:02,720 --> 00:01:05,399 Speaker 1: got a pile of listed investment companies and of course 17 00:01:05,680 --> 00:01:08,800 Speaker 1: international ETFs in there as well. But my point is 18 00:01:08,800 --> 00:01:12,520 Speaker 1: is I use my frugality proactively, so where I save money, 19 00:01:12,520 --> 00:01:15,360 Speaker 1: I would then transfer it towards this savings account. And 20 00:01:15,400 --> 00:01:18,080 Speaker 1: when that savings account balance hits one thousand dollars, I 21 00:01:18,120 --> 00:01:21,520 Speaker 1: go and invest it in my portfolio. Now, I've been 22 00:01:21,520 --> 00:01:25,039 Speaker 1: doing this Frugal February challenge for eight years, and Sally 23 00:01:25,080 --> 00:01:28,000 Speaker 1: maybe even nine years. This is how long Frigamma's been going. 24 00:01:28,400 --> 00:01:33,119 Speaker 1: But my point is by actually proactively transferring those savings, 25 00:01:33,120 --> 00:01:36,759 Speaker 1: by being frugal and being the world's bigagus tied us, 26 00:01:37,000 --> 00:01:39,880 Speaker 1: I actually make those savings account. Because so so many 27 00:01:39,920 --> 00:01:41,760 Speaker 1: of us we might save money, but then we end 28 00:01:41,840 --> 00:01:44,600 Speaker 1: up spending it somewhere else. It just kind of evaporates 29 00:01:44,640 --> 00:01:46,959 Speaker 1: and we never really actually get ahead. So this is 30 00:01:46,959 --> 00:01:51,520 Speaker 1: about mindfully proactively capturing those savings, quarantining them, and then 31 00:01:51,560 --> 00:01:55,400 Speaker 1: proactively and intentionally putting that money towards an important financial 32 00:01:55,400 --> 00:01:58,880 Speaker 1: goal of ours. Now, I've been doing Frugal February for many, 33 00:01:58,920 --> 00:02:01,480 Speaker 1: many years, and it's something that I've kind of felt 34 00:02:01,480 --> 00:02:04,720 Speaker 1: like I've outgrown because I'm actually not someone who is 35 00:02:04,880 --> 00:02:08,400 Speaker 1: frugal as such. I'm someone who's more mindful with money. However, 36 00:02:08,480 --> 00:02:10,520 Speaker 1: I have always loved the fact that this challenge has 37 00:02:10,520 --> 00:02:13,040 Speaker 1: always kind of regrounded me. It's been really good for 38 00:02:13,080 --> 00:02:15,400 Speaker 1: my soul. It's allowed me to see what I really appreciate. 39 00:02:15,800 --> 00:02:19,000 Speaker 1: It's recalibrated me, especially after the back of say Christmas 40 00:02:19,040 --> 00:02:20,720 Speaker 1: and New Years, where we tend to be shopping in 41 00:02:20,760 --> 00:02:22,280 Speaker 1: the sales and we've spent a whole pile of money 42 00:02:22,320 --> 00:02:25,560 Speaker 1: on Christmas presents and you know, the outfits and alcohol 43 00:02:25,639 --> 00:02:29,040 Speaker 1: and all those sorts of fun, fabulous but sometimes financially 44 00:02:29,080 --> 00:02:31,200 Speaker 1: toxic things in our life. So I've always I gus 45 00:02:31,240 --> 00:02:36,400 Speaker 1: appreciated that element of frugality and the Frugal February challenge. However, 46 00:02:36,639 --> 00:02:39,120 Speaker 1: last year, as you guys know, it was just a disaster. 47 00:02:39,480 --> 00:02:42,640 Speaker 1: It made me realize that Frugal February is potentially gone. 48 00:02:42,639 --> 00:02:44,760 Speaker 1: It's something of my past or outgrown it, and it 49 00:02:44,800 --> 00:02:48,560 Speaker 1: needed to evolve because I was essentially the more frugal 50 00:02:48,600 --> 00:02:51,680 Speaker 1: I tried to be, the more it backfired, the more 51 00:02:52,200 --> 00:02:55,360 Speaker 1: problems and dramas and expenses that seem to just pop 52 00:02:55,360 --> 00:02:58,760 Speaker 1: out of nowhere. And it all happened in this month 53 00:02:58,919 --> 00:03:03,360 Speaker 1: of February. So, after getting a huge, huge amount of 54 00:03:03,400 --> 00:03:05,800 Speaker 1: feedback from you guys, which I'm so incredibly grateful, and 55 00:03:05,800 --> 00:03:09,360 Speaker 1: this was all through Instagram, so thank you everyone, you 56 00:03:09,360 --> 00:03:11,919 Speaker 1: guys actually recommended it was time to not get rid 57 00:03:11,960 --> 00:03:14,239 Speaker 1: of Frugal February because it is a fun challenge and 58 00:03:14,240 --> 00:03:16,640 Speaker 1: it is really good for the soul. But to maybe 59 00:03:17,120 --> 00:03:21,040 Speaker 1: shift my mindset by changing the name, and I'd put 60 00:03:21,040 --> 00:03:25,400 Speaker 1: out a vote and everyone settled on fruitful Frugal February. 61 00:03:25,480 --> 00:03:26,840 Speaker 1: And it's a bit of a joke, I say with 62 00:03:26,960 --> 00:03:29,480 Speaker 1: Michael Thompson from my other podcast, to have they for 63 00:03:29,639 --> 00:03:32,200 Speaker 1: that we call the fruitful for me is silent, So 64 00:03:32,240 --> 00:03:36,040 Speaker 1: it's really fruitful February now. And the whole purpose behind 65 00:03:36,080 --> 00:03:38,160 Speaker 1: this was was I said, changing my mindset and my 66 00:03:38,200 --> 00:03:42,960 Speaker 1: attitude towards frugality. Now, what fruitful means is it's really 67 00:03:42,960 --> 00:03:48,560 Speaker 1: about I guess, focusing on long term savings and sustainable savings. 68 00:03:48,600 --> 00:03:51,040 Speaker 1: You know, just like you plant seed to grow into 69 00:03:51,120 --> 00:03:54,000 Speaker 1: a fruit tree called an apple tree. You plant that 70 00:03:54,120 --> 00:03:56,720 Speaker 1: seed not just to get apples for one year, but 71 00:03:56,760 --> 00:03:59,120 Speaker 1: you plant that seed to go into a tree that's 72 00:03:59,120 --> 00:04:01,200 Speaker 1: going to provide apples year after year after year, where 73 00:04:01,200 --> 00:04:03,080 Speaker 1: each year you can harvest the tree, pick all the 74 00:04:03,120 --> 00:04:05,800 Speaker 1: apples off, and a year later, all those beautiful apples 75 00:04:06,080 --> 00:04:08,720 Speaker 1: are back there again. And that's I guess, changing that mindset. 76 00:04:08,800 --> 00:04:12,160 Speaker 1: So the fruitfulness and I also have to say that 77 00:04:12,280 --> 00:04:14,400 Speaker 1: in doing this, it was it felt really right going 78 00:04:14,400 --> 00:04:18,840 Speaker 1: to this name of fruitful fruitful February. Now, how did 79 00:04:18,880 --> 00:04:23,279 Speaker 1: I go with fruitful February this year? Well, it was interesting. 80 00:04:23,560 --> 00:04:27,279 Speaker 1: Changing the name was definitely like had a big impact 81 00:04:27,320 --> 00:04:30,479 Speaker 1: on me in my mindset and in my attitude. To see, previously, 82 00:04:30,560 --> 00:04:33,000 Speaker 1: I was starting to become really resentful of frugal February. 83 00:04:33,080 --> 00:04:35,679 Speaker 1: As January we'd click in, I'd get this like feeling 84 00:04:35,760 --> 00:04:37,359 Speaker 1: like knowing you've got to go to see a dentist, 85 00:04:37,400 --> 00:04:39,800 Speaker 1: that oh it's coming, I'm going to have to do this, 86 00:04:40,040 --> 00:04:43,320 Speaker 1: and it kind of goes against mindfulness and balance in life. 87 00:04:43,800 --> 00:04:47,400 Speaker 1: So shifting this definitely helped. Now what I'm going to 88 00:04:47,440 --> 00:04:48,760 Speaker 1: do is share with you a bit of a brain 89 00:04:48,880 --> 00:04:52,080 Speaker 1: dump as to what happened, what I did, and how 90 00:04:52,120 --> 00:04:53,800 Speaker 1: much I saved. And I want to share with you 91 00:04:53,880 --> 00:04:58,720 Speaker 1: most importantly what I learned from doing Fruitful February. So I, 92 00:04:58,880 --> 00:05:01,839 Speaker 1: as a way always do no stone unturned. I made 93 00:05:02,160 --> 00:05:05,080 Speaker 1: so many phone calls, and I am so glad I 94 00:05:05,160 --> 00:05:08,560 Speaker 1: made these phone calls because they instantly paid off, not 95 00:05:08,600 --> 00:05:11,560 Speaker 1: just necessarily financially, but knowledge wise. So one of the 96 00:05:11,560 --> 00:05:13,479 Speaker 1: first phone calls I made was to our gas and 97 00:05:13,800 --> 00:05:17,400 Speaker 1: energy provider. Now instantly, I saved about one hundred and 98 00:05:17,400 --> 00:05:20,159 Speaker 1: twenty dollars per month. Now I call these guys every 99 00:05:20,160 --> 00:05:22,719 Speaker 1: single year, so I was not expecting to be able 100 00:05:22,720 --> 00:05:25,800 Speaker 1: to save that much money, and it was so quick 101 00:05:25,920 --> 00:05:28,520 Speaker 1: and easy. So a hack that I'm going to share 102 00:05:28,520 --> 00:05:30,520 Speaker 1: with you for people who want to sort of have 103 00:05:30,600 --> 00:05:32,440 Speaker 1: a look at their budgets and saving some money is 104 00:05:32,839 --> 00:05:35,719 Speaker 1: go and save in your phone your energy and gas 105 00:05:35,760 --> 00:05:38,200 Speaker 1: provided there one eight hundred number, and also in the 106 00:05:38,200 --> 00:05:41,000 Speaker 1: notes against that contact, go and save your account number. 107 00:05:41,480 --> 00:05:43,880 Speaker 1: So that means it's very easy for you to go 108 00:05:43,920 --> 00:05:46,359 Speaker 1: and make this call well on the go. So literally 109 00:05:46,360 --> 00:05:47,880 Speaker 1: when I was on the phone to the energy and 110 00:05:47,920 --> 00:05:50,960 Speaker 1: gas company, I was actually driving through safely a call 111 00:05:51,040 --> 00:05:53,719 Speaker 1: through Bluetooth technology, but I was on the phone to 112 00:05:53,760 --> 00:05:57,520 Speaker 1: my energy provider driving through the Sydney Harbor Tunnel, you know, 113 00:05:57,560 --> 00:05:59,320 Speaker 1: saving that money. And it was a way of, I guess, 114 00:05:59,360 --> 00:06:02,360 Speaker 1: really efficient using my time because I was running towards 115 00:06:02,520 --> 00:06:06,679 Speaker 1: school pickup and also saving money along the way. Also 116 00:06:06,800 --> 00:06:09,599 Speaker 1: during fruitful February, I'm going to call it, I stayed 117 00:06:09,600 --> 00:06:11,960 Speaker 1: at home as I normally do, but I would normally 118 00:06:12,000 --> 00:06:14,560 Speaker 1: come and go into a complete like hermit mode where 119 00:06:14,560 --> 00:06:17,279 Speaker 1: I'd not really see anyone, become very antisocial, which for 120 00:06:17,320 --> 00:06:19,880 Speaker 1: me previously was really good for my soul. But this 121 00:06:20,040 --> 00:06:22,680 Speaker 1: time I made sure that I did spend more time 122 00:06:22,720 --> 00:06:24,880 Speaker 1: at home, but I did it in a very financially 123 00:06:24,880 --> 00:06:28,400 Speaker 1: friendly way, but included an element of social skills, which 124 00:06:28,480 --> 00:06:31,080 Speaker 1: sounds sorryly not the right word. But I had a 125 00:06:31,080 --> 00:06:32,800 Speaker 1: lot of people over to my house to catch up 126 00:06:32,800 --> 00:06:34,719 Speaker 1: instead of meeting up at a restaurant or meeting up 127 00:06:34,720 --> 00:06:37,520 Speaker 1: at a cafe, or we'd go for a walk instead. 128 00:06:37,560 --> 00:06:41,320 Speaker 1: I really made sure that I kept my social circles 129 00:06:41,360 --> 00:06:43,400 Speaker 1: going because I think part of my resentment from the 130 00:06:43,440 --> 00:06:46,920 Speaker 1: past was being too much of a social hermit, too inclusive. 131 00:06:47,400 --> 00:06:50,520 Speaker 1: I probably lost my sense of balance previously during frugal 132 00:06:50,520 --> 00:06:53,880 Speaker 1: February just staying at home. So that was really good 133 00:06:53,960 --> 00:06:56,400 Speaker 1: for me to actually realize, yes, you can have a 134 00:06:56,440 --> 00:06:59,480 Speaker 1: social life and have it, you know, in financial harmony. 135 00:06:59,800 --> 00:07:02,240 Speaker 1: The other thing I did was there was another learning 136 00:07:02,240 --> 00:07:05,600 Speaker 1: curve for me was I did initially a no spend challenge. 137 00:07:05,640 --> 00:07:10,120 Speaker 1: Now this was actually backfired. It wasn't particularly frugal, and 138 00:07:10,160 --> 00:07:12,720 Speaker 1: I realized that no spend for me challenges I find 139 00:07:12,760 --> 00:07:16,240 Speaker 1: really fake when I see people doing no spend challenges, 140 00:07:16,960 --> 00:07:20,840 Speaker 1: I sort of question the authenticity or the honesty behind it, 141 00:07:20,880 --> 00:07:23,920 Speaker 1: because for a lot of people to actually genuinely do 142 00:07:24,000 --> 00:07:25,840 Speaker 1: a no spend challenge, they need to have gone and 143 00:07:25,880 --> 00:07:29,760 Speaker 1: bought a whole pile of stuff beforehand, or they do 144 00:07:29,800 --> 00:07:32,160 Speaker 1: the no spend challenge and then it backfires on them 145 00:07:32,160 --> 00:07:36,480 Speaker 1: when they do this rebellious successive spending afterwards. Now, for me, 146 00:07:36,600 --> 00:07:39,240 Speaker 1: I tried to do a no spend challenge, but I realized, actually, 147 00:07:39,760 --> 00:07:41,640 Speaker 1: this is not what I'm about. And if this is 148 00:07:41,680 --> 00:07:44,360 Speaker 1: about being fruitful, I need to go into the supermarket 149 00:07:44,400 --> 00:07:46,120 Speaker 1: and buy fruit and vegetables. I need to go and 150 00:07:46,160 --> 00:07:49,239 Speaker 1: pay these bills. I need to buy myself for coffee 151 00:07:49,280 --> 00:07:50,920 Speaker 1: because I'm having a crap day and I need to 152 00:07:50,920 --> 00:07:52,960 Speaker 1: pick put my feet up again and get on with life. 153 00:07:52,960 --> 00:07:54,920 Speaker 1: And that five dollar coffee is actually going to give 154 00:07:54,920 --> 00:07:57,880 Speaker 1: me the energy to get through my day. So I realized, 155 00:07:57,960 --> 00:08:01,120 Speaker 1: for me, a no spend challenge is really a bit 156 00:08:01,120 --> 00:08:03,480 Speaker 1: of a shallow strategy. And I don't say that to 157 00:08:03,560 --> 00:08:05,720 Speaker 1: judge anyone that does no spend challenges, but I just 158 00:08:05,760 --> 00:08:08,360 Speaker 1: want to be open and transparent with you. The other 159 00:08:08,440 --> 00:08:13,120 Speaker 1: thing that happened during our fruitful February is we randomly 160 00:08:13,200 --> 00:08:16,520 Speaker 1: had house guests, and we had lots of house guests, 161 00:08:16,960 --> 00:08:19,320 Speaker 1: and with the exception of I think of maybe two days, 162 00:08:20,480 --> 00:08:23,240 Speaker 1: we had people staying with us. So we had people 163 00:08:23,440 --> 00:08:27,000 Speaker 1: literally eating us out of house and home pretty much 164 00:08:27,480 --> 00:08:31,400 Speaker 1: every single day, morning and night. So whilst I'm trying 165 00:08:31,440 --> 00:08:34,560 Speaker 1: to be as frugal or fruitful as possible, we also 166 00:08:34,679 --> 00:08:38,560 Speaker 1: had lots of extra mouths to feed most days, so 167 00:08:38,600 --> 00:08:42,920 Speaker 1: that was definitely a challenge. Now, the other thing that 168 00:08:43,000 --> 00:08:47,360 Speaker 1: also happened during fruitful frugal February is a couple of 169 00:08:47,400 --> 00:08:51,640 Speaker 1: things echoed from last year. So last year the biggest 170 00:08:51,640 --> 00:08:55,440 Speaker 1: expenses were major major water damage to our house and 171 00:08:55,480 --> 00:08:59,640 Speaker 1: both our dogs got sick and sick for different reasons. Now, 172 00:09:00,360 --> 00:09:05,160 Speaker 1: weirdly these things happened again. So during the month of February, 173 00:09:05,200 --> 00:09:08,360 Speaker 1: we discovered we have more water damage, water damage in 174 00:09:08,400 --> 00:09:10,560 Speaker 1: a different part of the house. And yes that was 175 00:09:10,840 --> 00:09:13,760 Speaker 1: not as big a bill, but definitely took another dent 176 00:09:13,920 --> 00:09:17,120 Speaker 1: into our emergency money to help quickly fix this before 177 00:09:17,120 --> 00:09:19,280 Speaker 1: it became a problem, and we had even more black 178 00:09:19,320 --> 00:09:24,199 Speaker 1: more created. So that happened again. Also, Giuseppe got incredibly sick. 179 00:09:24,320 --> 00:09:28,480 Speaker 1: He got an autoimmune disease triggered and he basically couldn't 180 00:09:28,480 --> 00:09:31,520 Speaker 1: move anything in his body without being in extreme pain. 181 00:09:32,160 --> 00:09:35,280 Speaker 1: He was in an emergency VET for five or six days. 182 00:09:35,800 --> 00:09:39,400 Speaker 1: It was very touch and go. It was incredibly stressful. 183 00:09:40,000 --> 00:09:43,080 Speaker 1: So we definitely had, you could say, a very colorful 184 00:09:43,120 --> 00:09:48,480 Speaker 1: and busy month for frugal, fruitful February. So I had 185 00:09:48,480 --> 00:09:52,040 Speaker 1: those challenges, but I can proudly share with you I 186 00:09:52,120 --> 00:09:56,120 Speaker 1: saved over four hundred and eighty dollars that month, and 187 00:09:56,360 --> 00:10:00,480 Speaker 1: I was also able to increase our regular savings by 188 00:10:00,480 --> 00:10:03,200 Speaker 1: one hundred and twenty nine dollars per month from the 189 00:10:03,240 --> 00:10:06,480 Speaker 1: phone call I made to Foxtell, our gas company and 190 00:10:06,640 --> 00:10:10,679 Speaker 1: our energy provider. Now I know you might be thinking, gosh, 191 00:10:10,679 --> 00:10:13,040 Speaker 1: so what one hundred and twenty nine dollars per month. Well, 192 00:10:13,360 --> 00:10:15,720 Speaker 1: that's actually a lot of money because that money is 193 00:10:15,720 --> 00:10:18,120 Speaker 1: going to go towards our mortgage and help pay off 194 00:10:18,160 --> 00:10:20,640 Speaker 1: our mortgage a lot sooner. And I put up a 195 00:10:20,640 --> 00:10:23,520 Speaker 1: grid on Instagram showing you the impact of an extra 196 00:10:23,559 --> 00:10:25,840 Speaker 1: one hundred and twenty nine dollars per month and the 197 00:10:26,000 --> 00:10:28,360 Speaker 1: tens of thousands of dollars in interest that saves, and 198 00:10:28,400 --> 00:10:31,520 Speaker 1: how much time that saves. So please don't ever turn 199 00:10:31,559 --> 00:10:34,240 Speaker 1: your nose up on thinking about small savings, because those 200 00:10:34,280 --> 00:10:36,160 Speaker 1: small savings really do add up when they came from 201 00:10:36,320 --> 00:10:40,240 Speaker 1: three main sources, and when you proactively apply them to 202 00:10:40,280 --> 00:10:42,320 Speaker 1: a goal, which one of ours is obviously paying off 203 00:10:42,360 --> 00:10:45,560 Speaker 1: our home loan, it really does pay off. And that 204 00:10:45,760 --> 00:10:48,120 Speaker 1: ten minute phone call was well worth it, especially when 205 00:10:48,160 --> 00:10:49,959 Speaker 1: I look at the potential savings that come off our 206 00:10:49,960 --> 00:10:52,360 Speaker 1: home loan. I also, as I mentioned, was able to 207 00:10:52,360 --> 00:10:54,480 Speaker 1: save about four hundred and eighty dollars. Now the bulk 208 00:10:54,520 --> 00:10:57,839 Speaker 1: of this actually came from our grocery bill. Now this 209 00:10:58,000 --> 00:11:00,200 Speaker 1: really surprised me that I was able to save so 210 00:11:00,320 --> 00:11:04,800 Speaker 1: much because we had NonStop guests staying with us, and 211 00:11:05,200 --> 00:11:07,240 Speaker 1: just for the record, these people who were staying with 212 00:11:07,320 --> 00:11:09,959 Speaker 1: us were founding friends, so we did not expect them 213 00:11:09,960 --> 00:11:13,839 Speaker 1: to contribute towards a grocery bill. So I actually was 214 00:11:13,920 --> 00:11:16,719 Speaker 1: surprised I was able to actually save that much. And 215 00:11:16,840 --> 00:11:20,240 Speaker 1: doing things like cooking in bulk, you know, were eating 216 00:11:20,240 --> 00:11:22,120 Speaker 1: a whole pile of food, putting in the freezer into 217 00:11:22,120 --> 00:11:25,880 Speaker 1: individual portions really really made a big difference. But also 218 00:11:26,600 --> 00:11:29,640 Speaker 1: delaying going to the supermarket, I can't go to the 219 00:11:29,679 --> 00:11:31,240 Speaker 1: supermarket and just grab a pint of milk. I have 220 00:11:31,280 --> 00:11:33,680 Speaker 1: to go to the supermarket and grab a chocolate bar, 221 00:11:34,080 --> 00:11:36,440 Speaker 1: some biscuits, some snacks for the kids, and you know, 222 00:11:36,640 --> 00:11:39,960 Speaker 1: there you go, sixty dollars gone. So I actually avoided 223 00:11:39,960 --> 00:11:42,640 Speaker 1: going to the supermarket as much as possible, and I 224 00:11:42,720 --> 00:11:45,640 Speaker 1: really focused on eating up everything in our pantry, in 225 00:11:45,720 --> 00:11:49,720 Speaker 1: fridge and freezer before going to the supermarket. Now, this 226 00:11:49,880 --> 00:11:52,560 Speaker 1: was brilliant because it actually helped me keep the pantry, 227 00:11:52,559 --> 00:11:54,880 Speaker 1: fridge and freezer a lot more organized, which actually felt 228 00:11:54,960 --> 00:11:57,560 Speaker 1: so much more aesthetically appeasing when I opened up the 229 00:11:57,559 --> 00:12:00,680 Speaker 1: cupboards and draws to see everything actually now looking a 230 00:12:00,679 --> 00:12:03,160 Speaker 1: lot neater, and also to maintain that neatness is so 231 00:12:03,200 --> 00:12:05,920 Speaker 1: much easier with less stuff in there. But at one 232 00:12:05,920 --> 00:12:08,760 Speaker 1: stage I was able to stretch out our grocery shop 233 00:12:08,920 --> 00:12:12,360 Speaker 1: by up to a week, so that was a huge savings. 234 00:12:12,400 --> 00:12:16,160 Speaker 1: And also going back to the simplicity of some easy 235 00:12:16,280 --> 00:12:21,720 Speaker 1: clean eating, eating more salads, eating more vegetables, having more 236 00:12:22,080 --> 00:12:26,920 Speaker 1: meat free meals, less fish, really actually brought down our 237 00:12:27,000 --> 00:12:30,480 Speaker 1: food bill quite dramatically. And you know, when you're cooking 238 00:12:30,480 --> 00:12:32,800 Speaker 1: in bulk and you're sharing it, you know, cooking a 239 00:12:32,880 --> 00:12:35,280 Speaker 1: batch and that serves for dinner one night and the 240 00:12:35,400 --> 00:12:37,600 Speaker 1: night after. I was great, and I also got some 241 00:12:37,679 --> 00:12:40,000 Speaker 1: fantastic recipes from you guys that you sent to me 242 00:12:40,320 --> 00:12:44,480 Speaker 1: with really financially friendly fast meals to make for my kids. 243 00:12:44,480 --> 00:12:48,240 Speaker 1: And I've actually shared online the very financially friendly tacos 244 00:12:48,240 --> 00:12:50,320 Speaker 1: that we make as a family that actually can serve 245 00:12:50,360 --> 00:12:54,080 Speaker 1: for up to three dinners following after with this amazing 246 00:12:54,160 --> 00:12:56,480 Speaker 1: Coal's beef brisket. So definitely go and check out that 247 00:12:56,640 --> 00:12:58,640 Speaker 1: real because it's so delishous and also a great way 248 00:12:58,679 --> 00:13:02,040 Speaker 1: of getting a lot of vegetables into children. So as 249 00:13:02,160 --> 00:13:05,079 Speaker 1: innocence I with having non stop house guests, I was 250 00:13:05,080 --> 00:13:07,720 Speaker 1: still able to save four hundred and eighty dollars, which 251 00:13:07,960 --> 00:13:10,160 Speaker 1: I think is a lot of money. That's almost half 252 00:13:10,160 --> 00:13:11,960 Speaker 1: my way of being able to buy another set of 253 00:13:12,240 --> 00:13:14,600 Speaker 1: a parcel of one thousand dollars. The shares one hundred 254 00:13:14,600 --> 00:13:17,040 Speaker 1: and twenty nine dollars per month. This was actually not 255 00:13:17,200 --> 00:13:19,280 Speaker 1: that hard, And for the record, it's not like we 256 00:13:19,320 --> 00:13:22,679 Speaker 1: have this extravagant budget you know where you know, this 257 00:13:22,720 --> 00:13:24,800 Speaker 1: actually is a very small amount of our money. No, we, 258 00:13:25,040 --> 00:13:27,199 Speaker 1: like many families, we're on a very tight budget right now. 259 00:13:27,240 --> 00:13:30,560 Speaker 1: We've had interest rate rises, we've had very big unexpected 260 00:13:30,559 --> 00:13:33,840 Speaker 1: expenses with the house. So my situation is not sort 261 00:13:33,840 --> 00:13:36,800 Speaker 1: of fortunate or particularly luxurious at all. It's my budget 262 00:13:36,840 --> 00:13:39,280 Speaker 1: is very very similar to a lot of Australian households. 263 00:13:39,840 --> 00:13:41,520 Speaker 1: But this is what I want to share with you 264 00:13:41,640 --> 00:13:44,320 Speaker 1: in this today's episode, is that what I learned from 265 00:13:44,400 --> 00:13:48,160 Speaker 1: Fruitful Frugal February. So the first thing I learned was 266 00:13:48,480 --> 00:13:53,160 Speaker 1: being frugal is great, but it's only great in short blocks, 267 00:13:53,360 --> 00:13:56,640 Speaker 1: and when you apply those short blocks to short term goals, 268 00:13:57,160 --> 00:14:02,040 Speaker 1: being frugal is not sustainable. What is actually better for 269 00:14:02,080 --> 00:14:06,840 Speaker 1: your financial goals is being consistently mindful. When you are 270 00:14:06,880 --> 00:14:10,080 Speaker 1: consistently mindful, there are so many more positive emotions that 271 00:14:10,120 --> 00:14:13,480 Speaker 1: come from this. It brings in way more respect, It 272 00:14:13,520 --> 00:14:16,520 Speaker 1: brings in greater gratitude for what you've got and what 273 00:14:16,559 --> 00:14:19,160 Speaker 1: you're actually doing for yourself. You feel so much prouder. 274 00:14:19,760 --> 00:14:21,880 Speaker 1: There's also a greater sense of freedom, or you could 275 00:14:21,880 --> 00:14:26,080 Speaker 1: say lightness, in being mindful rather than frugal. The word 276 00:14:26,080 --> 00:14:29,360 Speaker 1: frugal even itself has a feeling of scarcity and lack 277 00:14:29,400 --> 00:14:31,480 Speaker 1: of which doesn't feel nice. But when you think about 278 00:14:31,800 --> 00:14:34,960 Speaker 1: being mindful, mindful is about empowering you to make choice 279 00:14:35,120 --> 00:14:38,520 Speaker 1: and being free to make those choices, and having an 280 00:14:38,560 --> 00:14:41,440 Speaker 1: element of lightness because you have this awareness to say 281 00:14:41,560 --> 00:14:43,400 Speaker 1: no to what you don't want and yes to what 282 00:14:43,440 --> 00:14:46,440 Speaker 1: you do want, which always makes us feel great. And 283 00:14:46,480 --> 00:14:50,080 Speaker 1: also I would say that being mindful brings in an 284 00:14:50,120 --> 00:14:54,280 Speaker 1: element of endurance in a successful way, particularly when you're 285 00:14:54,320 --> 00:14:56,880 Speaker 1: working on a financial goal that is important to you 286 00:14:57,480 --> 00:15:01,680 Speaker 1: and allows not just growth financially, but growth personally as well. 287 00:15:02,000 --> 00:15:04,600 Speaker 1: So that's the first thing I learned from doing Fruitful 288 00:15:04,600 --> 00:15:08,200 Speaker 1: Frugal February. The second thing that I learned is that 289 00:15:08,960 --> 00:15:13,720 Speaker 1: your sense of frugality or your frugal skill set really 290 00:15:13,760 --> 00:15:19,280 Speaker 1: gets tested and pushed and goes under immense stress when 291 00:15:19,320 --> 00:15:22,760 Speaker 1: you were under stress. So, as I mentioned, Giseppe got 292 00:15:22,800 --> 00:15:25,880 Speaker 1: really sick during literally the halfway mark of Frugal February, 293 00:15:26,400 --> 00:15:29,800 Speaker 1: and it was horrendous. He was so unwell and we 294 00:15:29,800 --> 00:15:32,720 Speaker 1: were in emergency vets. His bill actually came to I 295 00:15:32,760 --> 00:15:34,520 Speaker 1: think when I add all the bills up, it's just 296 00:15:34,560 --> 00:15:38,280 Speaker 1: over seventeen thousand dollars and imped Insurance paid eleven thousand 297 00:15:38,360 --> 00:15:41,280 Speaker 1: of that, which was great. But the flow on effect 298 00:15:41,360 --> 00:15:45,760 Speaker 1: from this was I completely underestimated. I never could mentally 299 00:15:45,800 --> 00:15:49,760 Speaker 1: would have thought about this beforehand. But with what was 300 00:15:49,840 --> 00:15:52,160 Speaker 1: that five six days where Giuseppe was so sick and 301 00:15:52,200 --> 00:15:54,840 Speaker 1: in just literally twenty four hour care in the emergency vet, 302 00:15:55,360 --> 00:15:58,200 Speaker 1: I couldn't work. I was so anxious. I couldn't focus, 303 00:15:58,240 --> 00:16:02,400 Speaker 1: I couldn't concentrate, struggled with keeping up with time. I 304 00:16:02,400 --> 00:16:05,080 Speaker 1: was also incredibly time poor Tom was over in Hong 305 00:16:05,160 --> 00:16:07,000 Speaker 1: Kong at the time. He had to fly home early, 306 00:16:07,800 --> 00:16:10,720 Speaker 1: and we were literally doing tag team. You know, Tom 307 00:16:10,720 --> 00:16:12,440 Speaker 1: would come home from work and try and come home 308 00:16:12,480 --> 00:16:15,400 Speaker 1: work early so I could race to the emergency Vet 309 00:16:15,480 --> 00:16:17,240 Speaker 1: and go and spend an hour with him lying on 310 00:16:17,240 --> 00:16:20,600 Speaker 1: the ground of this emergency vet hospital, you know, cuddling him, 311 00:16:20,640 --> 00:16:23,000 Speaker 1: patting him, reassuring that everything is going to be okay. 312 00:16:23,800 --> 00:16:26,440 Speaker 1: And we really had to lean on our community to 313 00:16:26,440 --> 00:16:28,240 Speaker 1: help us get through this. You know, we had to 314 00:16:28,280 --> 00:16:30,400 Speaker 1: have a friend that would come over and actually had 315 00:16:30,400 --> 00:16:32,120 Speaker 1: to help me get to Sepye into the back of 316 00:16:32,120 --> 00:16:34,680 Speaker 1: my car because he's a big, heavy Labrador and come 317 00:16:34,720 --> 00:16:36,640 Speaker 1: with me to the vet and literally hold my hand 318 00:16:36,680 --> 00:16:38,400 Speaker 1: while we explained to the you know, the vet what 319 00:16:38,520 --> 00:16:40,360 Speaker 1: was going on and help me understand all the information, 320 00:16:40,520 --> 00:16:43,560 Speaker 1: understand all the medication and all the different options. Being 321 00:16:43,640 --> 00:16:46,280 Speaker 1: frugal was the last thing I really wanted to do 322 00:16:46,400 --> 00:16:49,400 Speaker 1: or even really cared about. So being in a stressful 323 00:16:49,440 --> 00:16:52,720 Speaker 1: law even you could say, you know, semi traumatic a situation, 324 00:16:53,000 --> 00:16:56,840 Speaker 1: frugality is just that you really get pushed into a 325 00:16:56,920 --> 00:16:59,400 Speaker 1: backed into a corner. And there was a moment where 326 00:16:59,400 --> 00:17:01,480 Speaker 1: I was like, do I just throw this challenge in 327 00:17:01,520 --> 00:17:03,240 Speaker 1: for the month and just get through what's going on? 328 00:17:03,320 --> 00:17:06,159 Speaker 1: And I didn't, and I'm glad I didn't, but it 329 00:17:06,200 --> 00:17:08,800 Speaker 1: did make me realize being frugal and going through a 330 00:17:08,880 --> 00:17:12,560 Speaker 1: very stressful situation don't necessarily go in harmony. You may 331 00:17:12,600 --> 00:17:14,120 Speaker 1: want to be frugal, but maybe you need to pick 332 00:17:14,160 --> 00:17:16,480 Speaker 1: the timing that's right for you, where being frugal is 333 00:17:16,480 --> 00:17:18,200 Speaker 1: that sheually going to work for you, rather than being 334 00:17:18,240 --> 00:17:20,520 Speaker 1: frugal in a stressful situation. If you want to do 335 00:17:20,560 --> 00:17:22,280 Speaker 1: a challenge like this, and of course there are people 336 00:17:22,280 --> 00:17:24,760 Speaker 1: who are in stressful situations and are being frugal, I 337 00:17:24,800 --> 00:17:27,560 Speaker 1: understand that, but if you're doing this as a challenge 338 00:17:27,560 --> 00:17:31,080 Speaker 1: by choice, make sure you're at the right mindset and 339 00:17:31,200 --> 00:17:33,640 Speaker 1: situation to be able to make the most of being frugal. 340 00:17:34,119 --> 00:17:38,400 Speaker 1: The third thing that I realized is that applying gratitude 341 00:17:38,400 --> 00:17:43,400 Speaker 1: to frugality was brilliant. You see, as I mentioned, changing 342 00:17:43,440 --> 00:17:46,920 Speaker 1: the term of frugal February to fruitful frugal February or 343 00:17:46,960 --> 00:17:51,879 Speaker 1: just fruitful February really improve my mindset. Maybe in the past, 344 00:17:51,920 --> 00:17:54,000 Speaker 1: if I had had as many houseces stay with us 345 00:17:54,119 --> 00:17:57,000 Speaker 1: during February, I actually probably would have been really resentful 346 00:17:57,280 --> 00:17:59,680 Speaker 1: and frustrated, and I maybe would have asked them to 347 00:17:59,720 --> 00:18:02,000 Speaker 1: even and maybe contribute towards the cost, which I would 348 00:18:02,080 --> 00:18:04,439 Speaker 1: never do, but it could have potentially brought out a 349 00:18:04,480 --> 00:18:07,800 Speaker 1: bad side of me. But for me, having a sense 350 00:18:07,840 --> 00:18:13,000 Speaker 1: of gratitude from being fruitful was game changing. Not once 351 00:18:13,119 --> 00:18:15,480 Speaker 1: did I care about the grocery bill. Yes, I was 352 00:18:15,480 --> 00:18:17,639 Speaker 1: aware of the bill growing, and there was one weekend 353 00:18:17,640 --> 00:18:19,639 Speaker 1: where I think we spent seven hundred dollars on food. 354 00:18:20,119 --> 00:18:22,480 Speaker 1: But when I came back to being grateful to have 355 00:18:23,040 --> 00:18:26,199 Speaker 1: great friends, being grateful to be able to offer a 356 00:18:26,280 --> 00:18:30,080 Speaker 1: home or a room for our friends, being grateful to 357 00:18:30,119 --> 00:18:32,000 Speaker 1: have a family that would come and stay with us, 358 00:18:32,320 --> 00:18:35,360 Speaker 1: being grateful for the sense of community, being grateful for friendship, 359 00:18:35,400 --> 00:18:41,080 Speaker 1: being grateful for connection that frustration or resentment that sometimes 360 00:18:41,119 --> 00:18:43,120 Speaker 1: is attached to being frugal, and that can I guess 361 00:18:43,119 --> 00:18:47,200 Speaker 1: that sense of control evaporated and evaporated completely. I didn't care. 362 00:18:47,200 --> 00:18:49,040 Speaker 1: I was just happy to have everyone in our home. 363 00:18:49,080 --> 00:18:51,399 Speaker 1: And I'm someone who's funny with my space, so this 364 00:18:51,520 --> 00:18:54,800 Speaker 1: was really really big, I guess awareness and breakthrough for me. 365 00:18:55,240 --> 00:18:58,560 Speaker 1: And also with pet insurance. Yes, you know, pet insurance 366 00:18:58,600 --> 00:19:01,880 Speaker 1: covered eleven thousand of the seventeen one thousand dollars total bill, 367 00:19:01,920 --> 00:19:05,960 Speaker 1: but I'm so grateful we had pet insurance. I would 368 00:19:06,000 --> 00:19:08,000 Speaker 1: never question pet insurance if someone said, doing you think 369 00:19:08,000 --> 00:19:10,040 Speaker 1: it's worth one hundred percent? And I'm for the record, 370 00:19:10,320 --> 00:19:15,240 Speaker 1: especially with Giuseppe, I am way head financially with pet insurance, 371 00:19:15,920 --> 00:19:18,959 Speaker 1: So I am so grateful to have pet insurance. I'm 372 00:19:18,960 --> 00:19:21,919 Speaker 1: also so incredibly grateful that we lived near an emergency 373 00:19:22,000 --> 00:19:25,440 Speaker 1: VET that we were able to access amazingly care kinding 374 00:19:25,560 --> 00:19:29,720 Speaker 1: vet nurses and doctors that could had their own contacts 375 00:19:29,760 --> 00:19:32,640 Speaker 1: in certain areas its specialized in, you know, the type 376 00:19:32,640 --> 00:19:36,399 Speaker 1: of autoimmune disease that Giuseppe had activated. So you know, 377 00:19:36,520 --> 00:19:39,480 Speaker 1: I never begrudged the money that we lost in having 378 00:19:39,520 --> 00:19:42,600 Speaker 1: to pay the gap with the pet insurance and also 379 00:19:42,960 --> 00:19:45,040 Speaker 1: even with the house. I'm grateful for the fact that 380 00:19:45,040 --> 00:19:47,520 Speaker 1: we caught the new water damage before it got any 381 00:19:47,600 --> 00:19:51,080 Speaker 1: worse and any more expensive and started to become toxic 382 00:19:51,119 --> 00:19:53,199 Speaker 1: again like it had in the past. Yes, it was 383 00:19:53,240 --> 00:19:56,720 Speaker 1: frustrating seeing the emergency money did down again, but I 384 00:19:56,880 --> 00:19:58,760 Speaker 1: had this greater sense of lightness, And that's what I 385 00:19:58,760 --> 00:20:01,080 Speaker 1: guess what I said from changing that name the fourth 386 00:20:01,119 --> 00:20:03,600 Speaker 1: thing that I realized and I'm grateful for learnt from 387 00:20:03,600 --> 00:20:06,440 Speaker 1: doing fruitful Frugal February. And apologies, I keep jumping from 388 00:20:06,440 --> 00:20:10,479 Speaker 1: fruitful February to fruitful Frugal February. But this is the 389 00:20:10,520 --> 00:20:14,840 Speaker 1: power of asking. There is nothing to be lost by asking, 390 00:20:15,320 --> 00:20:17,399 Speaker 1: asking if you can have a better deal, asking if 391 00:20:17,400 --> 00:20:19,200 Speaker 1: you can get a better rate, asking if there is 392 00:20:19,240 --> 00:20:22,080 Speaker 1: a better plan or a better option available, or are 393 00:20:22,119 --> 00:20:24,280 Speaker 1: there ways that you can tweak and change your policy 394 00:20:24,280 --> 00:20:28,199 Speaker 1: to save some money. Nothing lost and so much gained. 395 00:20:28,560 --> 00:20:30,399 Speaker 1: That one hundred and twenty nine dollars per month to 396 00:20:30,480 --> 00:20:33,360 Speaker 1: me is a huge amount of money on a regular basis, 397 00:20:33,680 --> 00:20:35,920 Speaker 1: And that's you know, one hundred and twenty nine, no 398 00:20:36,000 --> 00:20:38,720 Speaker 1: big deal. Well, times that by twelve and then times 399 00:20:38,720 --> 00:20:41,000 Speaker 1: that by ten that's a lot of money to save. 400 00:20:41,040 --> 00:20:43,680 Speaker 1: I'd rather that money in my pocket than my energy 401 00:20:43,720 --> 00:20:47,320 Speaker 1: providers or my bank's pocket. So, as I said, put 402 00:20:47,440 --> 00:20:51,040 Speaker 1: all your utility providers, all your service providers numbers in 403 00:20:51,080 --> 00:20:53,080 Speaker 1: your phone with your account numbers, so it's really easy 404 00:20:53,080 --> 00:20:54,879 Speaker 1: to do a six monthly check and to see if 405 00:20:54,880 --> 00:20:57,199 Speaker 1: there's a better plan in there. And I hope was 406 00:20:57,200 --> 00:20:58,960 Speaker 1: to say, I know we've spoken about this in the 407 00:20:59,000 --> 00:21:02,560 Speaker 1: past with Adam for Blue Lantern, about refinancing or asking 408 00:21:02,560 --> 00:21:04,760 Speaker 1: your bank for a better deal. We do have a 409 00:21:04,800 --> 00:21:06,240 Speaker 1: bit of a block. We build it up and I 410 00:21:06,280 --> 00:21:08,680 Speaker 1: had to be something way harder than what it really is. 411 00:21:08,720 --> 00:21:10,439 Speaker 1: And the moment we've made that call were talking to 412 00:21:10,480 --> 00:21:13,960 Speaker 1: someone we like. Actually, this is very simple. We just 413 00:21:14,000 --> 00:21:15,719 Speaker 1: want a better deal, and we are well within our 414 00:21:15,800 --> 00:21:17,680 Speaker 1: right to ask for a better deal. So the power 415 00:21:17,720 --> 00:21:19,639 Speaker 1: of asking, if you're thinking about should I really do 416 00:21:19,680 --> 00:21:22,439 Speaker 1: it as worth it one hundred percent. Yes, go and 417 00:21:22,480 --> 00:21:25,040 Speaker 1: make those calls. And you can do it so easily. 418 00:21:25,119 --> 00:21:28,199 Speaker 1: Just prop some air pods in while you're typing at 419 00:21:28,200 --> 00:21:29,920 Speaker 1: your desk or on the bus or on the way 420 00:21:29,960 --> 00:21:31,679 Speaker 1: to work, or even if you're at the gym on 421 00:21:31,720 --> 00:21:33,919 Speaker 1: the treadmill. You can do this. As long as you 422 00:21:33,920 --> 00:21:36,720 Speaker 1: can use your mouth, you can ask for a better deal. 423 00:21:37,160 --> 00:21:38,880 Speaker 1: And then the fifth and final thing that I learned 424 00:21:38,920 --> 00:21:43,240 Speaker 1: from doing Fruitful Frugal February is that savings is great, 425 00:21:44,040 --> 00:21:47,439 Speaker 1: but investing. If you want to get ahead financially, and 426 00:21:47,480 --> 00:21:51,240 Speaker 1: you do want financial freedom to retire early, you need 427 00:21:51,280 --> 00:21:54,840 Speaker 1: to be investing. You see that four hundred and eighty 428 00:21:54,920 --> 00:21:58,400 Speaker 1: dollars that I managed to save, Yes, it is going 429 00:21:58,440 --> 00:22:01,680 Speaker 1: towards our home loan. Would normally actually put this towards 430 00:22:01,720 --> 00:22:04,919 Speaker 1: the thousand dollar project and buy some more shares. But 431 00:22:05,359 --> 00:22:07,680 Speaker 1: what I'm going to be doing this time next year 432 00:22:07,720 --> 00:22:12,159 Speaker 1: is any money that I create from doing Fruitful Frugal February, 433 00:22:12,480 --> 00:22:16,000 Speaker 1: I'm going to be putting towards the power of borrowing 434 00:22:16,200 --> 00:22:19,760 Speaker 1: to invest. You see that four hundred eighty dollars, Yes, 435 00:22:19,800 --> 00:22:21,880 Speaker 1: it's going to our mortgage this year, But next year, 436 00:22:22,400 --> 00:22:25,040 Speaker 1: if I do, say, manage to save the same amount, 437 00:22:25,359 --> 00:22:29,879 Speaker 1: that four hundred and eighty dollars actually represents the opportunity 438 00:22:30,359 --> 00:22:33,440 Speaker 1: if I want, after considering, of course, all my risks 439 00:22:33,960 --> 00:22:37,080 Speaker 1: and costs involved, but it actually represents the ability to 440 00:22:37,160 --> 00:22:40,679 Speaker 1: go and borrow between five to eight thousand dollars because 441 00:22:40,720 --> 00:22:43,439 Speaker 1: I can repay the interest on something like a margin 442 00:22:43,520 --> 00:22:46,880 Speaker 1: loan or an investment loan, which means I can then 443 00:22:46,960 --> 00:22:49,720 Speaker 1: add another five to eight thousand dollars worth of shares 444 00:22:49,760 --> 00:22:53,600 Speaker 1: to the thousand dollars project portfolio, which for the record, 445 00:22:53,680 --> 00:22:56,879 Speaker 1: is sitting at about two hundred and seventy five thousand dollars. 446 00:22:57,320 --> 00:23:01,200 Speaker 1: So when you use savings to get out of that's brilliant, 447 00:23:01,240 --> 00:23:04,040 Speaker 1: that's great. But there becomes a point where you can 448 00:23:04,080 --> 00:23:07,359 Speaker 1: actually use those savings to help build wealth and grow wealth, 449 00:23:07,840 --> 00:23:09,960 Speaker 1: and that might be through investing, or it might be 450 00:23:10,000 --> 00:23:13,040 Speaker 1: one level up where you're using it to help borrow 451 00:23:13,080 --> 00:23:16,320 Speaker 1: to invest, borrowing to invest in a smart, intelligent way 452 00:23:16,640 --> 00:23:19,840 Speaker 1: that factors in all the risks and also allows you 453 00:23:19,960 --> 00:23:24,159 Speaker 1: to factor in a proactive risk management strategy beforehand, and 454 00:23:24,240 --> 00:23:26,399 Speaker 1: of course making educated decisions when it comes to that 455 00:23:26,520 --> 00:23:29,160 Speaker 1: underlying investment. But the power of four hundred and eighty 456 00:23:29,200 --> 00:23:32,440 Speaker 1: dollars really represents so much more. It represents the ability 457 00:23:32,480 --> 00:23:35,199 Speaker 1: to be able to buy five to eight thousand dollars 458 00:23:35,200 --> 00:23:38,560 Speaker 1: worth of more investments for that portfolio. And no, this 459 00:23:38,640 --> 00:23:41,040 Speaker 1: is not advice to coe look at a debt cycling 460 00:23:41,040 --> 00:23:44,280 Speaker 1: strategy or borrowing to invest. I want to make you aware, 461 00:23:44,320 --> 00:23:47,480 Speaker 1: I guess, mindfully aware of the power of savings and 462 00:23:47,560 --> 00:23:51,960 Speaker 1: the power of proactively doing something intelligent, financially intelligent with 463 00:23:52,119 --> 00:23:55,560 Speaker 1: those savings when they're applied towards one of your financial 464 00:23:55,560 --> 00:24:00,720 Speaker 1: goals and dreams. So where is frugal February go. Well, 465 00:24:00,920 --> 00:24:02,719 Speaker 1: it is going to stay, and it's going to be 466 00:24:02,760 --> 00:24:06,840 Speaker 1: either fruitful frugal February or just fruitful February. But I 467 00:24:06,880 --> 00:24:08,879 Speaker 1: will be making some changes because I did sort of 468 00:24:08,880 --> 00:24:10,399 Speaker 1: get a little bit exhausted, and I don't know if 469 00:24:10,440 --> 00:24:12,080 Speaker 1: that was because of Ja said b or whether it 470 00:24:12,119 --> 00:24:15,800 Speaker 1: was just maybe me outgrowing for this particular monthly challenge. 471 00:24:15,800 --> 00:24:18,040 Speaker 1: But I'm going to be shortening it. It's either going 472 00:24:18,080 --> 00:24:19,560 Speaker 1: to be a ten day challenge or it's going to 473 00:24:19,600 --> 00:24:22,320 Speaker 1: be a twenty one day challenge. I'm also going to 474 00:24:22,320 --> 00:24:25,320 Speaker 1: really focus on fast and efficiency. I did find that 475 00:24:25,400 --> 00:24:28,200 Speaker 1: fruitful Frugal February dragged on a bit and I lost 476 00:24:28,200 --> 00:24:30,240 Speaker 1: momentum myself, and I'm sure a lot of people will 477 00:24:30,560 --> 00:24:32,800 Speaker 1: say the same as well. So we're going to really 478 00:24:32,840 --> 00:24:36,600 Speaker 1: focus on I guess, knocking it off quickly and efficiently. 479 00:24:37,240 --> 00:24:39,240 Speaker 1: And I'm also going to be using, as I said, 480 00:24:39,480 --> 00:24:43,400 Speaker 1: the next round from doing this particular challenge, to use 481 00:24:43,400 --> 00:24:46,879 Speaker 1: that money to prepay an investment loan for the thousand 482 00:24:46,920 --> 00:24:49,879 Speaker 1: dollars project, so I can actually increase my ability to 483 00:24:49,920 --> 00:24:55,119 Speaker 1: purchase more passive income streams through Australian sheets. So that, 484 00:24:55,240 --> 00:24:58,960 Speaker 1: in a nutshell, is how I went with Fruitful Frugal February. 485 00:24:59,119 --> 00:25:00,760 Speaker 1: I would love to hear from us to how much 486 00:25:00,760 --> 00:25:02,960 Speaker 1: money you saved where you found those savings so I 487 00:25:02,960 --> 00:25:07,080 Speaker 1: can share that with absolutely everyone else. And of course 488 00:25:07,080 --> 00:25:08,800 Speaker 1: I would love to hear what your financial goals and 489 00:25:08,880 --> 00:25:11,119 Speaker 1: dreams are and what you've been achieving, what you've been 490 00:25:11,160 --> 00:25:14,000 Speaker 1: ticking off, and how your financial journey is going yourself. 491 00:25:14,480 --> 00:25:17,280 Speaker 1: I love these dms when they come in and it's 492 00:25:17,400 --> 00:25:21,680 Speaker 1: so exciting, it's so empowering. It's also motivating reading your 493 00:25:21,720 --> 00:25:25,399 Speaker 1: feedback and hearing your stories. But in the meantime, that 494 00:25:25,520 --> 00:25:27,600 Speaker 1: is it for today's episode. Thank you so much for 495 00:25:27,680 --> 00:25:31,439 Speaker 1: tuning in, and of course until next Monday morning at 496 00:25:31,440 --> 00:25:36,400 Speaker 1: five am, stay motivated, empowered, and never stop seeking new 497 00:25:36,440 --> 00:25:40,120 Speaker 1: ways to achieve your financial goals and dreams, no matter 498 00:25:40,160 --> 00:25:44,480 Speaker 1: how big or how small. This is Sugar Mamma's fireplate 499 00:25:44,680 --> 00:25:49,800 Speaker 1: chaufer now