Being Frugal and Not Cheap
Ever since I’ve changed my spending habits this year, I’ve been really proud of myself for learning to be frugal. I was surprised to learn though, that some people have a hard time distinguishing between being frugal and being cheap.
Being frugal to me, is being smart with your money. It’s knowing when you need something and when you don’t. It’s learning to allocate your money in the best way so you can save and spend in a non-wasteful way.
Being cheap to me, is always trying to spend as little as possible even if it means a compromise in the quality of something you are purchasing or even offending/insulting someone you are paying.
Sometimes they can both have things in common. Clipping coupons can be an act that both frugal and cheap people may do. The same goes for looking through the sale rack or discount stores. The difference is that frugal people will look for a good deal on that sale rack and buy that shirt. Cheap people will look for a good deal and because they see a good deal, buy 5 shirts and perhaps never get around to wearing them.
Try and see if you agree with me on which ones of these I consider being frugal vs. being cheap:
- Movie hopping
- Ordering an appetizer at a restaurant instead of an entree
- Taking used furniture a friend is offering to furnish your place
- Shopping at Goodwill even if you make good money
- Giving a wedding gift that is less than what the couple gave you at your wedding
- Carpooling to work
- Reusing the back of scrap paper
- Taking paper from work for your printer
- Opting for manual labor over monetary donation when it comes to charity
- Tipping 15% when service was excellent
1. Cheap 2. Cheap 3. Frugal 4. Cheap 5. Cheap 6. Frugal 7. Frugal 8. Cheap 9. Frugal 10. Cheap
How well did you do??
November 5th, 2009 at 9:47 pm
Oh no, I do number 2! Well, at Applebees, I love the Sampler more than any other meal. It is actually more expensive than all the other meals, and I eat it alone! I don’t want to be be cheap!! LOL.
November 6th, 2009 at 8:36 am
Haha well don’t worry about it! If you order the sampler out of love than I wouldn’t consider that being cheap. Now if you ordered the sampler simply because it was cheaper than an entree than I would say that is being cheap!
November 6th, 2009 at 10:31 am
Nice post! What about sharing drinks at a fast food place instead of buying two?
November 6th, 2009 at 9:26 pm
hmmm I guess that would be being cheap
December 1st, 2009 at 6:04 pm
Overall, I don’t agree with the frugal/cheap designations here because its didactic attempt to socialize on a unidimensional scale ignores important considerations and perspectives such as weight loss efforts, socioeconomic area (Bee, Nebraska vs. NYC, NY), culture and acculturation, personal value systems (i.e. personal growth through donating time, or belief that time is better than money), and others.