Jan
07
What’s the difference between being frugal and being cheap?
Posted ByWhere does that line exist between spending frugally and spending cheaply? Give some examples if you can.
Where does that line exist between spending frugally and spending cheaply? Give some examples if you can.
3 Comments
January 7th, 2010 at 2:46 am
My dad was frugal, but not cheap, he bought good stuff, spent his money when he needed to on stuff that lasts, the only problem was he would never buy a replacement till the original was on its last legs.
Being cheap is a false economy, buying rubbish, that breaks, looses shape, or thinking your saving money on stuff that you will need to replace sooner than needed
I suppose the best example is to be frugal is to buy one good bottle of wine a month and drinking it, being cheap is buying 6 cans of beer at 50c each that taste crap
I take after my dad in that I buy good stuff, but far too often to be considered frugal or cheap.
January 7th, 2010 at 3:37 am
Cheap is refusing to pay what something is objectively worth.
Frugal is refusing to pay more than what something is objectively worth.
Both include an intimate understanding of what one can afford: what one needs versus what what wants.
Tipping is perhaps the best example I can think of that marks a truly cheap person from someone who is simply frugal.
A frugal person tips a standard amount for regular service in which a tip is usual and standard practice…rounding up on small bills; down on large bills. A frugal person will not tip when tipping is not standard practice, regardless of what other people are doing.
A cheap person generally tries not to tip — demanding near perfect service even at the least expensive restaurants for a minimum. Always rounding down, finding excuses for leaving a tip less than half of standard and thinking nothing of leaving nothing for the slightest of problems.
January 7th, 2010 at 4:13 am
Like beauty, sometimes it’s in the eye of the beholder.
But if you are willing to spend money when there’s a good reason to, on good stuff, then that leans toward frugal, not cheap.