I am FRUGAL and proud of it!  OK maybe sometimes cheap too but can’t we all be sometimes.

I have been “joked” with these two words from friends and family for years.  I have laughed at this most of the time because I know they don’t have any bad intentions.  In my head I think well at least I have some money in the bank, do you? 

However, if it really bothers, then say something politely to them. I know that it can be hard to have a conversation like this, but you can do it!

So how did I get this mindset to be frugal?  Well, it came from seeing parents struggle, work hard, go through layoffs but persevere through it all and still be happy and content.  I have learned to stretch a buck and squeeze a nickel or a penny.

Also talking to coworkers about how they save money. Let’s keep having this conversation to share best practices.

Definition of Frugal or Cheap

A frugal person will try to buy quality stuff, but probably wait for a genuine sale and find a coupon or use cash back (or both) to offset some of the costs.

A cheap consumer just buys whatever they can find at the lowest price possible. Basically, when someone is cheap or frugal, they try to keep their spending on the lower side. However, the motivations behind that goal are usually a bit different.

Those who are frugal, tend to strive towards getting as much value as possible out of their money. They focus on spending their money on the things that matter to them. Generally, those who are frugal care about the value of their purchases, and those who are cheap focus more on the cost. While those who are cheap try to always get the lowest price on things they purchase, those who are frugal are willing to make exceptions for purchases that are important to them.

Quote:  “To be frugal instead of cheap, the key is to spend your money where it really matters”.

Fun Frugal Quiz:

https://www.citizensbank.com/learning/saving-money-personality-quiz.aspx

https://www.buzzfeed.com/stephenlaconte/are-you-cheap-polls

My examples of being a Frugal Person

• I pack my lunch for work
• Keep my phone for 5 plus years
• Buy used quality cars
• Hang out my wash on the clothesline- They will dry if it is above 32 degrees
• Always check online for deals/discounts prior to purchase
• Know the best month to buy certain products like a washing machine!
• Using the library
• Make my own dishwasher detergent
• Buy from the thrift store

The Bottle Line

Frugal means something different to everyone, but at the root of it, cutting back on excess expense and spending within your means is at the heart of living a frugal lifestyle. A frugal person is someone who wants to get the most value for every dollar he earns.

Just think back to a few generations ago that being frugal was what everyone was doing.

It’s one thing to want to get out of debt and save as much as you can. However, it’s also important to consider how you’re maximizing your dollars to create more joy and fulfillment, rather than just getting by.

At the end of the day, ask yourself if you’ve aligned your spending with your values.

I am instilling these money saving habits to my kids so that they can be prepared for their financial future.

Your Turn: Share your BEST FRUGAL Tips in the comments!