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Old 06-23-2017, 08:37 AM
 
370 posts, read 206,803 times
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Quote:
Originally Posted by nbseer View Post
I like to think of myself as 'frugal'.. (my Dad says I'm a 'minimalist!). Even though I have the money to buy a luxury car, I drive a 2000 Mazda Protege. DW and I have lived in the same modest house for almost 40 years, with a few rooms added on.

While I like to shop at dollar stores, clip coupons, always ask for the 'senior discount' at fast food joints, I do spend money when I think it's worth it, for special occasions, gifts, charity, etc.

So that's 'frugal' right? Or is it 'cheap'? What do you think?

You sound frugal rather than cheap to me. I say that because you spend money when it's worth it to you. If you constantly denied yourself things that are important to you, then you would be cheap. I also shop the bargains, but I get what we want and need. I even buy a lot of organic food because that's very important to me, but I get it on sale. My car is 9 years old but in great condition with low miles, and you can bet I'll drive it for as long as it allows.

Getting all of the discounts you can when purchasing anything is just another way of managing your wealth. I have noticed that some people only concentrate on investments, others only on earnings, and others only on frugal day-to-day purchases. Not taking all of these into account is leaving money on the table. Just as I wouldn't invest in funds with low returns, I wouldn't just buy day-to-day goods without looking for the best price. Granted, investments have the potential for the greatest return on your money, but frugal spending also allows for an increase in savings. Money management should be one big package with none of the "legs" ignored. Plus, it's just fun to get a real bargain.
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Old 06-23-2017, 08:38 AM
 
370 posts, read 206,803 times
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Quote:
Originally Posted by happygeek View Post
I'm confused; why did these hypothetical people go somewhere without at the very least bringing a bottle of water with them in the first place? If they knew they were going walking down a hot road why didn't they wear a CamelBak (particularly one that's also a backpack so you can stick snacks in it too)?
Because frugal people don't waste money on bottles of water, we have reusable containers. And, who wants to pay for a CamelBak?
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Old 06-23-2017, 09:47 AM
 
Location: God's Country
4,653 posts, read 3,019,005 times
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Default Have You Ever Been Insulted For Being Cheap, uh, I Mean Frugal?

Dad, mom, my brother, my buddy, his mom, and I spent a week at a Pocono resort. Our waiter for every meal was the same college kid throughout the week. Nice, efficient young man.


Dad and mom lived through the economic depression of the 1930s by the way. Two dirt poor families from the east side of Baltimore.


Anyway, after our last meal, dad left an envelope on the table with the young man's tip. The young man beamed as we left the table. A few minutes later, outside the dining room, the young man walked up to dad with the envelope saying, "I couldn't take this sir; you obviously need it more than I do."


Both dollar bills were still inside the envelope. Yep, he returned the $2 tip.


Now keep in mind that this was 1958 but even then, you couldn't stretch $2 too far .....
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Old 06-23-2017, 10:56 AM
 
Location: Suburban wasteland of NC
252 posts, read 150,473 times
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Quote:
Originally Posted by Rabrrita View Post
Yes there are differences. In the world of financial conscious people, there are actually three types. Thrifty, Frugal and Cheap. Here is one way to recognize them.

All three walking on a road for hot and thirsty. They come across a small one room store. The Thrifty person will decide they are hot and thirsty so it's worth $2.00 for a cold bottle of water. The Frugal person will decide the .50 cents bottle of warm water in the sun will quench their thirst. The Cheap person will not spend a penny and just drink from the squeegee bucket.

I think that sums it up.
Quote:
I'm confused; why did these hypothetical people go somewhere without at the very least bringing a bottle of water with them in the first place? If they knew they were going walking down a hot road why didn't they wear a CamelBak (particularly one that's also a backpack so you can stick snacks in it too)?

Quote:
Originally Posted by StillRoaming View Post
Because frugal people don't waste money on bottles of water, we have reusable containers. And, who wants to pay for a CamelBak?

That's what I meant


CamelBaks are awesome for hiking, and long bike rides for that matter. I got one for $110 less than a year ago and feel like I've already gotten my money's worth.


Maybe that's the difference between frugal & cheap? The frugal guy packs a CamelBak with water & food, the cheap guy brings along a old, threadbare backpack with a repurposed milk jug full of water. This analogy is breaking down.
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Old 06-23-2017, 11:23 AM
 
7,356 posts, read 4,427,372 times
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Quote:
Originally Posted by Rabrrita View Post
Yes there are differences. In the world of financial conscious people, there are actually three types. Thrifty, Frugal and Cheap. Here is one way to recognize them.

All three walking on a road for hot and thirsty. They come across a small one room store. The Thrifty person will decide they are hot and thirsty so it's worth $2.00 for a cold bottle of water. The Frugal person will decide the .50 cents bottle of warm water in the sun will quench their thirst. The Cheap person will not spend a penny and just drink from the squeegee bucket.

I think that sums it up.
I love that. I thought I was "frugal", but I would absolutely spring for the cold bottle of water.
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Old 06-23-2017, 11:25 AM
 
7,356 posts, read 4,427,372 times
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Quote:
Originally Posted by Campfires View Post
I drive a $1000 car yet make well into the six figures. I don't even have AC in that POS. I don't have cable TV. I have a $30/mo prepaid cellphone plan. I shop at Aldi.

Yet I feel that I simply live in a world of financial austerity. I went through a dark period during the Great Recession and I struggle with the concept of taking on debt. The only debt I have is a mortgage.

I don't consider myself to be cheap. I don't think I'm frugal as I'm willing to spend money for quality. I don't clip coupons so I don't think I'm thrifty.

I live well beneath my means and I'm sure that perplexes people that know me. I just can't pull the trigger on new debt (that doesn't earn me income) and I can't stomach the thought of spending $30,000 for a new vehicle as that would deplete my cushion. If I finance the car, I have to carry full coverage for insurance. That's more wasted money. Why would I want to pay almost $20/day to say I own a "new car"? I have nobody to impress.

So perhaps I'm cheap, thrifty, and frugal.
If you get into an accident which is your fault, you won't think it was a waste of money to keep full coverage on your 30k vehicle.
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Old 06-23-2017, 12:41 PM
 
Location: Bella Vista, Ark
69,278 posts, read 79,447,244 times
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Quote:
Originally Posted by Campfires View Post
I drive a $1000 car yet make well into the six figures. I don't even have AC in that POS. I don't have cable TV. I have a $30/mo prepaid cellphone plan. I shop at Aldi.

Yet I feel that I simply live in a world of financial austerity. I went through a dark period during the Great Recession and I struggle with the concept of taking on debt. The only debt I have is a mortgage.

I don't consider myself to be cheap. I don't think I'm frugal as I'm willing to spend money for quality. I don't clip coupons so I don't think I'm thrifty.

I live well beneath my means and I'm sure that perplexes people that know me. I just can't pull the trigger on new debt (that doesn't earn me income) and I can't stomach the thought of spending $30,000 for a new vehicle as that would deplete my cushion. If I finance the car, I have to carry full coverage for insurance. That's more wasted money. Why would I want to pay almost $20/day to say I own a "new car"? I have nobody to impress.

So perhaps I'm cheap, thrifty, and frugal.
everyone has his/her own definition of cheap. thrifty or frugal. To me frugal and thrifty are intertwined and cheap is something a little different. I would say you are cheap, but if you are happy with your life style and you are not hurting anyone it makes no difference which of the three you are.

I know I fall more into the thrifty/frugal catagory but am not even really that. I do use coupons, I do a lot of chopping at Aldi's and Sams. When I buy things, I check on line (Amazon) before I decide to buy locally because of the tax. I hate to pay the cost of shipping and we do drive a modest car. We think twice before we eat out or waste money. Part of this has to do with not having a lot to waste, but we also know we can't take it with us and anyone posting here has been through at least one recession.
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Old 06-23-2017, 04:57 PM
 
11,623 posts, read 5,457,812 times
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Cheap is more like refusing to spend when you can and need to. IDK why this exaple popped into my mind but if I fed my dog dollar store food even though I can afford good food I think that would be CHEAP. Or if I wore shoes with holes in them while being able to afford new ones that would be cheap. Those examples are beyond frugal. Frugal and thrifty are the same things. And regarding the comment about poor people, some poor people are NOT frugal. some borrow when they could stay in their budget being frugal.
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Old 06-23-2017, 05:17 PM
 
11,697 posts, read 16,443,612 times
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To each his own. One poster or CD wore shoes to the point of plantar faciitis to meet savings goals. I shop around, I price match, I splurge when it is something that says 'take me home' from cherries to guns.
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Old 06-23-2017, 05:21 PM
 
3,205 posts, read 2,812,336 times
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I think of cheap as negatively affecting yourself or others particularly when you can afford better. The cheap guy listed earlier drank the mop water. Now he is going to get sick from the chemicals and germs and the other two people now probably have to help his sorry hiney get home and watch after him until he gets better because he is cheap.

I'm not sure I'd call the person who bought the bottle of hot water frugal unless he knows he can ask for a free cup of ice to cool his water down.

I think the third guy is the most frugal for buying the $2 bottle of cold water. He got what he needed and he didn't cause a hardship for himself or his friends. He could have brought a reusable bottle for the walk, but he doesn't own a reusable bottle because he doesn't normally need one. He saw a great opportunity to hang out with a couple of other people and he chose to enjoy the adventure and accepted that $2 was a reasonable cost that might lead to better relationships in the future.
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