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There are two types of people who spend very little money, but they are two very distinct sets of people. Some people do smart things with money, but the way they do it takes away from other people financially. These people are referred to as stingy or cheap. There are also those of us who make lifestyle changes which cause us to save money, but we do so in a way that most people would never notice. Being frugal is a compliment, being cheap in an insult. Learn the difference between the two so that you can become one of those who are frugal rather than cheap.

If you are cheap, you are making financial benefit at the expense of others. You do things for your financial gain which are detrimental to others. You will do things such as take magazines from other people’s mailboxes, charge money to anyone who is staying with you, eat your room-mates food when no one is looking, borrow fruits and vegetables from your neighbor’s gardens, claim that you don’t have the money when someone else is in need, bum rides from your friends and neighbors, ask them to pay when you are out to eat because you don’t want to pay, and the like.

You definitely do not want to be cheap. People who are actually cheap are very seldom liked. You will save some money in the process, but you won’t win any popularity contests, that’s for sure! People will avoid spending time with you because you are unwilling to let go some of your money. People who are cheap are also often very greedy, which is not a good character trait to have. Don’t be cheap.

Frugal on the other hand, is another story. When you are frugal, you will buy generic brands of food, ride your bike to work instead of drive, keep a close eye on your expenses, rent movies instead of going out to them. You can do things to save you money when you are frugal, but don’t do it in a manner that is financially draining on others.

Being frugal is much more ideal than being cheap. You will not be viewed as stingy and greedy, instead you will be viewed as wise. Your friends will believe that you are smart with money, and will come to you to for financial advice when they need it.

You can do plenty of things which are economically beneficial to you without being cheap. Be frugal, but don’t be cheap.


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