Frugal Vs. Cheap – Where Are You At?


To become independently wealthy, being both frugal and cheap plays a big part in that. These types of qualities should be key points in your  personal finance.

We will discuss their differences, how you can be frugal, and how you can be cheap. You probably are doing some of these things.

Frugality is about spending money on things you value and not spending money on  the things that are  not important.

Being cheap is holding back on spending money even though you have the means to do it.

Cheap people choose the lowest price selection all the time, while frugal people go for the product with the better value so that their money was  spent sensibly.

Cheap mainly depends on the price while frugal focuses more on value. To be cheap has a sole purpose: to save money regardless of the quality and often at the expense of others.

Regardless of which one you choose, both have benefits that can suit your personality and overall goals.