Frugal or cheap? There’s absolutely nothing wrong with trying to stretch your dollar. But like anything else in life, sometimes that philosophy can be taken to its extreme. When making a purchase, frugal folk always consider additional factors including the price of their personal time and/or the trade-off between quality and cost. On the other hand, cheapskates are much less pragmatic, usually focusing entirely on the price tag.
The bottom line: Saving cash is certainly a noble goal. However, we cross the dreaded rubicon from “frugal” into “cheap” the moment we stop caring about getting the best value for our money.
Photo Credit: Giorgio Monteforti