The Difference Between Frugal and Cheap

Ever since I have been more passionate about personal finance and managing my money, I have noticed that there are different definitions of being cheap and being frugal, depending on who you talk to. When my wife and I started telling people that we couldn’t go on vacation, because we were paying off debt, or that we don’t use credit cards, they looked at us funny. When we clip coupons and go to the $1.50 movie theater, some people laugh at us. We’ve never been heckled

about it, but we’ve definitely heard the “you only live once” line when we tell people that we are saving money or paying off debt before we spend it on a major purchase. So, for what it’s worth, here’s my definition of frugal and cheap Frugal Looking for deals and taking advantage of sales and promotions when you were already planning on purchasing something Delaying pleasure and instant gratification to make a big purchase

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The Difference Between Frugal and Cheap