A few mths ago i got a small but painful bump on areola below nipple. went away after a week. today i woke up with the exact same bump in same spot.

Blocked duct: most likely blocked duct. Best to use moist heat to help it resolve. If it looks infected (red, swollen, increasing pain/swelling) need to be seen

Infected milk duct: This bump can represent a blocked milk duct. The areola has 17-19 milk ducts which get larger with pregnancy but can get infected. I would try putting heat on it and see if it decreases in size. If not, or if it keeps recurring, I would see your health care provider to determine whether you need antibiotics for a smoldering infection in the duct. Sometimes it spontaneously resolves.

Could be a: Small cyst or early sub areolar abscess. I recommend having it evaluated by your doctor to determine which one it is and to confirm the diagnosis.

Probably small boil.: apply warm compresses, keep clean, it may open up, drain carefully , keep clean. If not better see your Doctor, you my need Antibiotics and may be more.