So I looked up the definition of cheap, and it states what I thought it would - stingy and miserly. On the other hand, frugal means prudently saving or not wasteful. I would say that I'm more of the "frugal" than "cheap" but I love this quiz from Moolanomy - it discusses your dining out habits, your shopping habits, and even your gift receiving habits. I got 25 points - I'm definitely frugal!After taking the quiz, what was your score? If there's a way for you to save more money, what are your solutions?
I was just talking about this with my boss last night -- I'm frugal with some things.
ReplyDeleteFor example - hubby and I will spend $150 on a great steak and wine dinner out someplace fun -- but we won't spend $15 for a burger at ski resort because we think it's a waste of $$$.
PS- Have you been to this site: http://www.girlsjustwannahavefunds.com/... lots of great ideas for future post for ya!
I rate a 26. To me, the difference between cheap and frugal is whether you will pay a bit extra for something that's a better value and whether you cheap out on other people (e.g. tipping poorly). The funny thing is, the people I know who are "cheap" actually spend more money over the long run because they wind up buying things multiple times.
ReplyDeleteOr is it this: frugal is when I ask to split the check, cheap is when you do? :)
One interesting thing about that quiz: it doesn't weight the expense factors in your life. For example, you can buy new clothes all the time and get a new TV every couple years, but drive a used Hyundai, and you'll still save money compared to leasing a Lexus. For my money, targeting the biggest expenses (housing, car, vacations, clothes for some people) first makes the most sense.