What is your definition?
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I think they mean the same thing but have different connotations. Both imply that you are being mindful of what you are spending but cheap is negative, while frugal to me seems positive/neutral.
(This comes from someone who has grandparents who are CHEAP and parents who are frugal - big difference I think)
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I agree... Frugal sounds like you're just being smart about your money... Cheap sounds like you're a tightwad!
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I think of cheap as just stingy and not wanting to spend anything. While frugal is mindful and willing to spend, but wanting to get your best bang for the buck.
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@PurplePumps: This is my definition too!
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@PurplePumps: mine too...
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I think of cheap as not spending money on (as in not buying) things that are actually needed or when it's important to make loved ones happy, even if it means someone will suffer because they didn't have what they need or a friendship is lost. Frugal to me would be finding the least expensive way to meet one's needs!
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Cheap means you aren't willing to spend big money on anything, even if it would be beneficial in the long term. For example, you only buy really cheap cars that only last a few years, when you could have spent twice as much for a honda that would have lasted you 10 years. It's a short sided perspective, imho.
Frugality is about minimizing spending in some areas to have more to spend in the areas you really care about. For instance, I love to cook, and as a SAHM, I have a lot of time to do it. So, I cook most of our food from scratch to save money on groceries. This leaves more room in the budget to spend on things we enjoy.
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Cheap = My FIL, who never buys anyone gifts, ever, and whines about money constantly even though they are much better off financially than we are. He's also been known to ask people to pay for his meals because he "forgot" his wallet.
Frugal = Me. I comparison shop, use coupons, wait for things to go on sale, plan ahead, and almost never impulse buy ANYTHING. I still buy gifts for friends and family, I just start shopping months before the holidays and look for good deals.
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@Arden: Omg, I have relatives who forget their wallet or go to the bathroom when the check arrives!
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Cheap is you don't tip well, but cheap products that don't last, make your friends pick up the tab. Frugal is buying on sale, second hand and couponing. As well as being mindful of where your money is going and not impulse buying.
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I cannot relate to either (DH wishes I could) so I don't really know how to explain the difference!
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@PrincessBaby: Me too.
I need to be more frugal!
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I think frugal is what people call themselves, and cheap is what other people call them ;o) !
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@MsMini: This too. I hate this couple in our family who thinks they're so frugal but really they're cheap - they demand gifts from everyone but never go out of their way to return the favor, or they just regift something if they absolutely have to. Somehow they always find a way to make someone else pay for things. That's cheap!
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Quality.
Ex: parent celebrating child's graduation with family friends
Cheap- would invite people out to dinner, pick a low cost buffet, and only pay for themself...even the graduate
Frugal- would host a house party, make the food and have control over the costs
Ex: person shopping for a TV
Cheap: picks the least expensive, off brand, sale item
Frugal: researched the best last year's model that has all the features and buys the floor model to save
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To me, frugal sounds smart - savvy shopper? Like making sure you get the best deal on a great product that you want. Cheap though, sounds like you're just getting whatever costs the least w/out any regard to the quality.
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Cheap: goes for the more inexpensive item, or will decide not to buy an item because of its price. Unwilling to pay for certain things because of the cost.
Frugal: good at stretching your dollar, will look for sales and be smart about purchases.
I don't think being frugal is a bad thing, and i think we should all try to be a bit frugal in some aspects of our lives!
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@Mrs. Lemon-Lime: ooh, i like your definition!
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18 comments