Budgeting & Frugality with the Happy Hour Crew
Today is the last Friday of the month, and my regular listeners know that on the last Friday of the month, I host the happy hour on the podcast, where I gather great friends with me to drink cheap drinks and talk about money topics. This month, I have been talking about budgeting, frugality, and my birthday, so my friends are joining me today to share some of their best budgeting and frugality hacks and their most and least expensive birthday celebrations.
What are we drinking?
Melanie – Strawberry Kefir
Alicia – RumChata with Fireball
Colin – Pink Martini
Shannon – Champagne
Podcast Notes
Birthdays & Frugality
The Happy Hour Crew spends some time reflecting on their relationships with their birthdays, from themed parties to quiet solo celebrations. They each share their most and least expensive birthday celebrations, highlighting the memorable moments and reflecting on their preferences.
The conversation flows from there to discussing budgeting and frugality overall, with everyone sharing their perspective and experiences on these concepts and how their views have formed or evolved over time.
For Melanie, it's about spending on what truly brings her joy and being frugal in the areas where it doesn't matter as much. Alicia learned to budget from a young age and is very disciplined about sticking with it. Colin shares that his recent layoff experience was a wake-up call to his spending habits.
Shannon feels like she has been all of The Financial Gym clients at some point in time, so she has a unique empathy and understanding for their experiences. She reminds us that we work hard for every dollar we earn and need to ensure we have systems in place to make spending harder.
Habits & Strategies
The Happy Hour Crew moves on to talking about hands-on tips and strategies around budgeting and frugality that they have discovered. The Financial Gym is all about 'goals-based budgeting' and building a system that works for you from there.
One system that works for many clients is having specific savings buckets or separate accounts for different goals with automatic savings set up. This simple system can be personalized and automated, making it a great place to start.
If you can identify your spending triggers, you can implement strategies to curb impulse spending, such as deleting apps on your phone and saved payment methods for high-spending areas or keeping frozen meals at home for when you're not in the mood to cook.
Everyone's budget and priorities will be different. For Melanie not keeping up with the most recent trends and fancy parts of her appearance, like getting her nails done or Botox, is a way she can save money without missing out.
Final Thoughts
Budgeting is all about making room in your life for the things you truly enjoy. Shannon used to hate the idea of frugality but has learned to love it over time. If you are feeling resistant, try it out and be open to seeing how your feelings can change, too.
Frugality is not about being miserable. At The Gym, your non-negotiables are the few line items you prioritize above all else. Rather than spending on things they truly love, many clients' spending patterns often prioritize areas like retail, Amazon, and food, which may not align with their core values and goals.
Just because you can pay off your credit card bill in full every month does not mean you are financially healthy. It's important to look at your statements, evaluate your goals, and make sure your spending aligns with your values.
Shannon teases the return of "Shit Show: The Musical" after Martinis and Your Money ends, adding an extra light-hearted touch to the discussion and end of the show.
Takeaway: My biggest takeaway is that if you are someone who is on the path to financial independence (and I believe everyone should be on this path) then budgeting and frugality are two words and concepts you should be very familiar with and I hope the episodes this month inspired you to make some frugal life choices.
Resources Mentioned in the Episode:
Wedding Season Expenses with The Happy Hour Crew
Connect with The Happy Hour Crew
Melanie Lockert: melanielockert.com
Colin Becker: @iwillbecolinyou & colinbecker.com
Alicia Lazarto: COO of The FinancCOO of The Financial Gymal Gym
Shannon McLay: CEO & Founder of The Financial Gym
If you have any topics you would like me to cover on this podcast, or if you’d like to get in the financially naked hot seat, I encourage you to email me at shannon@fingyms.com or join the private Martinis and Your Money Facebook Page, and let me know what you want to hear.
As many of you know, other than running this podcast, I’m the founder and CEO of The Financial Gym, and we are celebrating 10 years of this journey. Now more than ever, I see the importance of the work we do every single day. Rising inflation, the return on student loan debt, high-interest rates on loans and mortgages, and volatile stock markets make it a time where, now more than ever, you need a best financial friend to help you make the best choices along the way.
At Financial Gym, you get paired with a Certified Financial Trainer, who we call your BFF. Our team has coached clients through every financial season, whether they were living paycheck to paycheck or headed into Financial Independence and Retirement. As a reminder, we work with individuals, couples, or business owners.
The exciting news of 2024 is that Financial Gym now has a sister company, FG Advisory Services, available for people looking for more traditional financial advisory services like asset management delivered by a team that looks and behaves nothing like a traditional financial advisory services company. We literally have a solution for you, no matter where you’re starting from. So what are you waiting for? Head over to or send friends to financialgym.com to get started today. Our warm-up calls are free of cost and judgment, so you have nothing to lose.