We all want the best value for what we work so hard to earn, but how to be frugal without being right down cheap? And what is the difference between the two anyway? These two simple tests based on real life situations will help you to tell the difference.
With the cost of nearly everything steadily rising the concept of frugality is back. We all want the best value for what we work so hard to earn, but how to be frugal without being right down cheap? And what is the difference between the two anyway? These two simple tests based on real life situations that I have observed will help you to tell the difference.
While being frugal is simply being wise about how we spend our money, being cheap has nothing to do with frugality at all and can be very destructive to our relationships with friends and family because nobody likes to deal with people who are cheap. You will find out why after taking these two short tests. Simply mentally answer “yes” or “no” to each question and you will have a good idea about where you stand on frugal vs. cheap dividing line. You might also get some ideas on how you could become more frugal without being cheap.
- Do you shop in bulk?
- Do you budget?
- Do you plan your shopping by checking first what prices are offered on items you plan to buy in different places?
- Are you taking the advantage of the price match policy most stores are offering when shopping for high quality big items such as flat screen TV’s?
- Is quality as well as the best price possible important to you when you shop?
- Are you eating out with friends and family only on special occasions?
- Do you cook at home most of the time?
- Are you avoiding having too many credit cards?
- Do you pay your bills on time?
- Do you say “no” to extra expenses when you really cannot afford them?
If you answered “yes” to four or more of these questions, then you are frugal. If not then you might consider applying some of these ideas, which can help you get better value for your hard earn cash and allow you to do more with what you have. Believe it or not, how you spend your money matters more than how much you earn. There are so many people who earn high incomes, but are broke on higher level because they absolutely have no control over how they spend it. Do not be like them, while also avoiding being cheap, which takes us to the second test…
Published in: Homemaking