Has Adulting Made You A Cheapskate?
A Cheapskate is defined as a person who does not like to spend money or the lowest cost is the deciding factors in their expenses. Over this past weekend, I was conversing with a friend who is battling waters of adulthood.
Midway conversation we started to ask ourselves are the expenses of adulting forcing us to be cheap? Are we cheap people?
It’s not that being cheap is anything to be afraid of when you have limited wiggle room to do anything or than what’s in your budget.
Rent, groceries, student loans, eating out, heck breathing are costs that start to add up.
There’s a fine line between being frugal and being cheap, but the truth is, the fine line is practically invisible. Right? Whether you're cheap as hell, or frugal it's clear you’re a person who likes to save money.
However, sometimes how you choose to save money may be more costly.
This encouraged me to begin my search to identify how people define being cheap, versus frugal. I came across 10 answers on the differences between being cheap and frugal.
According to the internet:
1. Cheap and frugal, people love to save money. But frugal people will not do so at the expense of others.
There’s a cost to every money move we make.
2. Frugality is about assessing the bigger picture and having the patience to cash in on simple saving strategies.
I agree with because when I think about being frugal in comparison to being cheap,
In the long term, being frugal, will help you save cash because there were there will be things are items that you have invested your money on. You won't have to keep reinvesting or responding money on the same items in the future because you have something of quality that has lasted a long time.
3. Cheaper people uses price as a bottom line as a deciding factor and frugal people decide on value.
Could it be that frugal people also take into consideration price and value.
4. Cheap people are driven by saving money regardless of the cost, frugal people are driven by maximizing total value, including the value of their time.
Although I don’t like how this comparison is phrased I definitely agree. Let’s look at cheap decisions, a lot of times people are cheap because they don't have any other option. They could be frugal but their money is so tight, It forces them to use price as a bottom line because they don't got no DAMNNNNNNNN money.
When I turned to another set of definition they were all over the place:
5. Cheap people are unaware of their finances.
This makes no sense to me because cheap people are often aware of their finances because they have no money.
6. Cheap people eat ramen.
Ramen is a Japanese dish and when cooked and prepared well it’s actually delicious.
7. Cheap people and their behaviors impacts everyone in comparison to those being frugal.
The way we choose to spend our money collectively impacts people around us no matter if we’re cheap or Frugal.
8. Frugal people don’t necessarily mean to be selfish.
Are we really doing this right now?
9. Cheap people want to get things for free.
I didn’t know that wanting to get an item for low cost is meant getting things for free.
10. Frugal people's frugality only affects them.
If a frugal person is in a family of four and constantly practicing ways to save mine then their frugality affects everyone.
After my search I realized you should never trust the internet still to lump you into categories. The difference between being cheap and frugal lies in why you spend less and how you prioritize your spending so choices. What things do you care about and how financially do they take shape in your world?