FMOOD 0154: Being Frugal vs. Being Cheap - a podcast by Tom Merlino | Tom is inviting you to follow him on his journey to get out of debt and get into prosperity.
from 2017-05-19T06:00
If you ask most people, they won't see much of a difference between someone who is considered to be frugal and someone who is considered to be cheap. Unfortunately, for most of us in the process of trying to improve our lives financially, we may run into some harsh critics out there who may refer to us as being a cheapskate, a scrooge, etc.
The truth of the matter is that there is a definite difference between being frugal and being cheap. When someone is cheap, it's generally a personality trait that they've had for most of their lives. On the flip side, when someone is frugal, that person has typically learned to be frugal. It wasn't a quality that they were born with.
Chances are, the frugal person is working a plan to get out of debt or doing something else positive with regards to their personal finances. They may have been burned by a bad situation before, and they don't want to go back to what hurt them in the first place if what caused it was overspending. Being frugal is part of an overall plan for positive financial changes.
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