Uber Frugal in 1 Month | Frugality Challenge w/ Mrs. Frugalwoods – EP 191

Are you already thinking about ways to reign in your spending in the new year? Have you wondered what it would mean to go ‘all-in’ on frugality (even if just for a short time)? Mrs. Frugalwoods is here to share with us her top tips for engaging in a super frugal month challenge; perfect for January…or any time of year!

Sponsors: 

  • Our 2022 Goal Planning Workshop! On December 27th we’re doing a free planning and strategy workshop to help you break down your 2022 money goal into actionable month-by-month goals and steps. We think it’s going to be super fun and helpful. Space is limited and a replay will be sent out to everyone who registers so grab your seat at frugalfriendspodcast.com/training!
  • EggNog. Who doesn’t love a good eggnog this time of year? It’s the most frugal holiday beverage. A drink literally so heavy you can’t physically drink more than one at a time and none of your friends like it so one carton should last you all season. And put your nice liquor back on the top shelf because eggnog is so dense you’ll want to use the cheapest bourbon, rum, or brandy to cut through it. Eggnog, the thicc drink.

For more from Mrs. Frugalwoods, check out EP 44 – Frugal Pregnancy & Parenting with THE Mrs. Frugalwoods

Interview

 We go through Mrs. Frugalwoods article together on the first 8 of 11 Steps to becoming uber frugal:

  1. Establish Your Goals – she even has tips about how to get a spouse on board!
  2. Review Last Month’s Spending
  3. Categorize Your Expenses – consider what’s mandatory vs. discretionary
  4. Ask yourself, ‘what can I eliminate entirely?’ – it may hurt! Mrs. FW gives example of ceasing to need makeup
  5. Embrace the art of substitution – think gym membership, coffee, etc.
  6. Reduce spending on discretionary expenses
  7. Empower yourself to insource
  8. Examine your habits

If you want to see the rest of the list you can visit the post at the link above or just sign up for the Uber Frugal Month!

BILL OF THE WEEK –  Thank you Liz for sharing your bill about going to the thrift store and spending $49.75 on TONS of needed items

If you want to submit your bill of the week visit frugalfriendspodcast.com/bill to leave us a bill

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Lightning Round 

A reset or re-check we’ll be doing in January 

  • Liz- reset on 72 hour rule – waiting 72 hours before purchasing
  • Jill- re-evalutaing home renovations – asking ourselves again where are priorities on renovation spending?
  • Jen- resetting spending to save more for small trips.

Get more from Mrs. Frugalwoods:

Wrap-Up:

Thanks so much for listening! Keep leaving us reviews on iTunes or Stitcher, and sending the screenshot to frugalfriendspodcast@gmail.com AND share our most recent episode on social for a chance to win a copy of the Frugal Friends Workbook!

Thanks for listening! See you next week!

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