Frugal Vs. Cheap – Where Are You At?

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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.

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

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

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

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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.

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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.

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

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FOR MORE ABOUT THIS POST, VISIT RADICAL FIRE

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