Is he frugal or cheap?
Growing up you realize that people have completely different definitions for frugal and cheap.
Some people consider not wanting to waste money as someone who is cheap. And some people say that someone who refuses to tip waitresses is frugal.
Let’s see what Webster has to say about it…
: characterized by or reflecting economy in the use of resources
and here is the definition of cheap…
3b: contemptible because of lack of any fine, lofty, or redeeming qualities <feeling cheap> c: stingy <my cheap uncle>
They describe “cheap” with”stingy”, so if we look at what stingy means…
1: not generous or liberal : sparing or scant in using, giving, or spending <stingy with the salt> <stingy employee benefits>
I think the word “frugal” has gotten a bad rap. Somehow it seems to have gotten somewhat of a negative connotation. Maybe not in the personal finance world, but I just don’t hear “frugal” being used as a compliment very often.
I prefer use “wise with money.” It just sounds better 😉 And ultimately that is what I am trying to do. I don’t want a single dollar to go to waste. That doesn’t mean that I just want it all for myself, but I want to direct the money to where it should go. So, by getting control of my money I can have more to give to others, more to fund God’s Kingdom, and more for my family.
A quick little quiz…
I am interested to hear what other people’s opinions are on this, so…
How would you define someone who is cheap? Someone who is frugal?