Everyone has different attitude towards frugal living, though very often being frugal is associated with being cheap. Is this correct? I believe it’s not. Frugality has become an essential part of our life and there is no doubt this is a reasonable change. However, is that possible to set the line between frugality and cheap living and not to cross it? I decided to make a kind of research in order to understand the main difference between frugal and cheap individuals, their believes and the things they have in common, if there are some.

Things associated with frugal living:

• concentration on the value of things not just their cost;
• searching for the better deal not the cheapest deal;
• things you buy cost you less in the long run;
• self-sacrifice (ability to do without things that can cost pretty penny in the long run);
• saving money for long-term goals;
• no impulse buys

Things associated with cheap living:

• hunting for sales;
• buying useless but cheap stuff;
• driving all over town to save a few cents on a loaf of bread;
• saving a dollar at all costs;
• considerable consumption of resources;
• things you buy cost you more in the long run

Although being frugal or cheap is all about saving money, both frugal and cheap folks are prone to donations. Frugal individuals like to make donations for things they totally believe in while cheap individuals seem to be happy enough to donate their time, efforts, and whatever it takes, to save a dollar. To conclude, I’d like to say one thing: while minding our money, we are to watch ourselves not to become cheap.

Image credit: 79/365 My Sacrifice