How to do Frugal February in style

#frugalfebruary 2020 has begun and looks different for everyone and every family. 

For me Frugal February means spending money on needs and not on wants.  It is about being more intentional, mindful and aware of my behaviour, thoughts and feelings.

What really matters to me is that my son is getting the opportunity to take part in this mindset shift and conversation around intentional spending and saving.  And he can see that having enough money to save is not just about earning more but also about spending less.

Because this is the first time I am doing this challenge my intention is not only to save extra money but also to create new habits that stick when March comes around.

I think one of the most important factors for success is to plan time into your busy day (actually schedule it) to decide how you are going to spend less and save more TODAY. 

Here are some ideas to inspire and motivate you to succeed with this saving challenge.

Unsubscribe from sales emails.

Create barriers between you and your online spend and make it more difficult for yourself to push enter. For example, remove your credit card details from the site and don’t automatically save the login details for the site.

Show your child how to earn extra money using my money catcher

Plan to drive past your corner café, local McDonalds or Steers and not stop to buy that little yummy something.

Teach your children about saving money with my free money mindset activities

Don’t go shopping when you are hungry. And always make sure you have a nutritious filling snack with you (and water – always).

Shop your cupboards, fridge and freezer and get creative in the kitchen using what you already have.

Pop real popcorn instead of microwave popcorn.

Don’t buy anything in a plastic bottle (we usually don’t need the stuff that’s inside of the bottle for good health).

Plan your meals and only buy for that plan. Don’t be like me and spend hours planning and leave the shopping list at home. Even better shop online.

Set up at least one income stream. I have (for a long time) wanted to use affiliate marketing as one of my streams of income, but just never got round to it. Today I have signed up with my first company sharesies which means that I will earn money if you click through using this link to start investing through their platform. In fact, this referral link is linked to my son’s investment portfolio which means it is an additional stream of income for him.

Declutter and sell something online – I have only sold on TradeMe but am about to give FB Marketplace a go.

Spend a bit of time with your bank statements and cancel subscriptions that aren’t adding value and joy to your life and that you aren’t using.

Declutter and sort your wardrobe and you will be guaranteed to find some forgotten gems which means you won’t feel the need to go shopping.

Don’t go shopping, even window shopping.

Keep your laminated MY CREATING SAVINGS CARD with your debit and credit cards and do the ritual when facing a purchase decision. The idea is just to give yourself a breather before you spend money on something that you definitely don’t need and probably don’t even want.

Get intentional with your spending and think about your purchases.

Don’t browse online for the month of February.

Walk straight past the magazine isle.

Create a little money jar for change.

Create a gratitude practice and role model to your children how to do it.

Buy second hand school uniform items.

Sell some second hand school uniform items.

Declutter your shampoos, conditioners, creams and make up, clean them up and finish those little bits lying at the bottom.

Gather all your samples you have collected and use them this month.

Gather gift vouchers and cards that are buried in clutter.

Borrow and lend clothes with friends.

Do book swops with friends.

Do pot luck dinners instead of going out to eat.

Investigate Circular Fashion

Go through your books and find some gems to read instead of buying magazines and new books.

Are you due for a salary increase but don’t know how to do it – read this for some inspiration.

Start saving even if it is $5.00. JUST START.

Make sure you have a savings account set up so you can transfer your money saved immediately.

Seek out balance in your life. Joy is about finding that delicate balance between giving and receiving.

I guess frugal February is essentially about only spending on needs and not wants.  Every time you want to spend STOP AND ASK THE QUESTION – do I need this or do I want this?

Avoid spending temptations – have a little think about your triggers – the things that happen that make you want to spend, it’s a bit like what makes you want to feast on sugar and all things delish.  Our triggers are usually emotional.

Invite your family to do Frugal February with you – don’t force them or tell them.

Do it with a friend so you can keep each other accountable and find other fun stuff to do together.

Instead of meeting for a coffee go for a walk with your friend.

Instead of saying to yourself “I can’t do this” try saying “How can I do this?”

Think and plan how you are going to spend and save in March – are you going to lose the plot and binge on all the things you havn’t bought in Feb????

Consider pre-loved clothing. 

Create a FREE Family Financial Statement with your family. I have created a colour and a BW version so just print whichever suits your needs.

Practice posture and walk in the bush instead of paying for exercise.

No impulse buys.

Get creative and schedule in some fun – frugal February doesn’t have to feel gloomy and doomy.

Change the energy you give to the word Frugal. In other words what does the word frugal mean to you?

Agree with your partner that no money (except for chocolate????) will be spent on Valentines Day. Instead just hang out at home, eat nice food, enjoy some wine or a delish hot chocolate or chai latte, turn off devices, talk, laugh or make popcorn and watch a movie, or listen to old favourite songs together, or watch sport, or go for a walk in nature, or exercise (if that’s what you enjoy doing together).

Set a financial goal and track it and be kind to yourself.

Put up those hems, sew on those buttons, get rid of that stain, iron that shirt and hey presto you have a whole lot of new clothes to wear

Choose free family activities

Unpack FOMO – what does the feeling of missing out mean to you? What are you afraid of if you don’t buy whatever that thing is?

I hope you are feeling inspired and motivated to get stuck into frugal February. Please let me know how you are going – I would love to know.

One thought on “How to do Frugal February in style

  1. Pingback: 7 Tips To Help You Get Your Children Willingly Involved in Frugal February | Mothers Teaching Money

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