Questions 2: What is the difference between thrifty and frugal? What is the difference between cheap and frugal?
At first glance, this might seem like the same question but in reality they are two very questions because cheap and thrifty are very different things. So let’s tackle the first question first.
If we go back to our dictionary source from above, a thesaurus search shows that thrifty and frugal are synonyms or, they mean the same thing and I accept that. So a frugal person could also be said to have a thrifty lifestyle. Other people may find small nuanced differences between the two but for me, the answer to, What’s the difference between thrifty and frugal? Not much.
Cheap, outside of the connotations of low priced, has a negative meaning. Thrifty people avoid unnecessary expenses. They might save up their money to buy something vs purchasing it on credit with interest. A cheap person on the other hand tries to avoid spending money at any cost. Sadly, I have people in my own family like that. My great aunt for example has lived with a leaky roof for the past year because she doesn’t want to pay her share over her coverage amount.
Generally, a frugal approach will prove to be beneficial in life whereas in the long run, a cheap person will be hurt be the reluctance to spend money and that reluctance leading to greater damages or losses further down the road.
Go Back to the Frugal FAQ, back to What is Frugality, or proceed to What are the Benefits of Frugal Living.
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