Being Frugal IS NOT Being Cheap
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The preconceived notion of an avid saver is that the person is cheap and wouldn’t fork over a single penny to save his life. False, of course! There is a difference between being smart with money and refusing to use it.
I hope to cover some of the differences between a frugalite and a cheapskate. Being able to distinguish between them would stop people from judging.
The Frugalites
- Are Thrifty
Good money management is a major part of frugality. Using coupons and shopping for discounts are typical routines of a thrifty individual. Smart spending on necessities and minimal spending on luxuries helps save money.
- Makes the most of their resources
Many frugal people use what they have as much as possible. Throwing a bunch of leftovers together for a nice casserole or growing their own vegetables are typical practices that make use of what they already have. If they need something, they’ll spend the time to search for a good price.
The Cheapskates
- Are Greedy
If it is free, they’ll take as much as they can. They’ll refrain from spending any money for something that they can take from someone else without remorse.
- Makes the least of their money
They save like there is no tomorrow. Sick? Too bad, they won’t pay a single dime to see a doctor. Health should be the #1 priority for any single person and money just isn’t something they’ll sacrifice for a better life. They’ll dig a hole and hide their money for themselves when they can spend it like a fool.
It is easy to say that being frugal and being cheap is very similar. I totally agree with that despite my apparent discontent with cheapskates. What I think separates these two classes the most is dependency. Frugalites are independent and can take care of their money matters on their own. Cheapskates depend on others and put their financial burden on society and other around them.
So the next time someone judges you of your savvy financial moves, teach them a good vocabulary lesson.
Photo credit: ninjapoodles and muffet
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8 Comments on this post
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Matt @ MyFinancialRecovery.net said:
I think I have some of both tendencies going right now. Your comments on health and seeing a doctor ring home for me though. I do need to get in for a check up as well as to check into the headaches that I seem to get almost daily. I suppose I am cheap when it comes to my health but that is largely due to having poor insurance – I need to pay out of pocket for pretty much everything.
You are correct though, health should be number one and I have to be reminded of that sometimes.
Thanks!
November 11th, 2008 at 12:17 pm -
Bonnie said:
I do agree that there is a difference between being smart with money and being plain cheap. I agree that many people just lump them all into one category. Just because I use coupons and send in rebates, doesn’t mean that I don’t enjoy spending. I just save in the areas that aren’t as important to me so I can spend in the areas that are like remodeling my house. Besides, it’s a lot of fun to get many toiletries for free or almost free.
November 12th, 2008 at 11:32 am -
Louise said:
Thanks for this. I am trying to be frugal, and my husband was confused on the terms. He things frugal people are crazy. We’ll show him, Frugal is not cheap
November 12th, 2008 at 4:49 pm -
carol at A Second Cup said:
Useful post because it gives clarity between attitudes that reveal if you are in fact being a good money manage or a selfish person with your money.
November 12th, 2008 at 4:59 pm -
Simon said:
Glad to see that this post hits home for many of you. I just can’t stand it when others have negative opinions of those who work on building wealth.
Be proud of practicing frugality!
November 13th, 2008 at 5:39 pm -
Dr. T said:
On a side note, it that how you organize your coupons? What sort of card holder/pages are those in the 3 ring binder?
Some people are just better cut out to be frugal. My wife and I are completely on board with being frugal even if many of our friends have trouble distinguishing frugal from cheap.
It usually leads to an interesting discussion.
Dr. T-
November 17th, 2008 at 7:13 pm -
Jerry said:
Being cheap is absolutely NOT synonymous with being frugal. My wife have been frugalites for years and it has been insurance for our marriage AND our bank account. We know many “cheap” people though who lead their lives in such a way that they don’t invite others in because they don’t have a generous spirit. You can have a generous spirit and still be frugal.
JerryJune 11th, 2009 at 10:13 am
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