Cheap Versus Frugal
There is a different. Cheap is buying a product or service of low quality or buying the lowest price products or services no matter the quality or standards. Cheap is also being reluctant to spend money or give money. Frugal is efficient planning in the use of money to purchase a product or service. Frugal includes comparison shopping to find the best deal.
Cheap people strive to get items for free or feel they deserve a good deal. Frugal people want a good deal but work to get it. Cheap people focus on short-term or immediate savings. Frugal people focus on long-term savings.
The line is drawn in terms of quality and when saving money is at the expense of others. Cheap people base decisions on price. Frugal people base decisions on quality.
People take offense to being called cheap because it highlights a person’s flaws – lack of patience to comparison shop, inability to analyze prices, products and services. Being cheap shows that a person is willing to sacrifice quality and value to purchase a product or service.
People take offense to being called cheap because it highlights a person’s flaws – lack of patience to comparison shop, inability to analyze prices, products and services. Being cheap shows that a person is willing to sacrifice quality and value to purchase a product or service.
Cheap people have a fear or spending money or losing money so they purchase the lowest cost items in hopes that they will be able to keep more of their money. However, they fail to realize that they end up spending more money replacing the cheap items purchased.
In addition, cheap people are aware that they are cheap but don’t want anyone to point it out. They know they have a problem but don’t want to change, don’t know how to change or are unable to change.
Cheap versus Frugal Scenarios
Scenario | Cheap | Frugal |
Eating out | Order a soda and eat the free bread | Order the kid’s meal or appetizers instead of an entrée |
Paper products | Take extra napkins from a fast-food restaurant to use at home | Use the left-over napkins from a fast-food restaurant to use at home or in your car |
Tipping at a Restaurant | If you don’t give a tip or give less than 10% | If you tip at least 15% |
Eating Out | If you share a meal with your child or spouse | If you use a Living Social or Groupon coupon |
Clothing | You purchase an item, wear it once and then return it | You purchase an item on sale or use a coupon |
Coffee | Spill a coffee packet on the floor and still use it to make a cup of coffee | Purchase Starbucks coffee from Amazon.com |
Groceries | Rummaging through dumpsters and trash cans to get food, i.e. Freeganism | Shopping at discount stores such as Costco or Price Club |
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