Is Frugal Being Cheap?

Being frugal has a more positive connotation than being called cheap, but it's sometimes hard to distinguish which is which. Sometimes we are left wondering is frugal being cheap.

Frugal can mean cheap in regards to how much money a person spends on themselves. A frugal individual is not going to spend money on expensive things unless the item is an economical purchase. For example, a frugal person will spend $50 on shoes, but because they will last longer than $15 dollar shoes. Also, a frugal person can be a generous person. A person who is known for being "cheap" is often not thought of as a generous person.

There are many ways to look at frugality, but in this article we will look at a simple break down of the definition of frugal and cheap, go over how to be frugal and generous according to a financial expert, and what the Bible says about frugality.

How to be frugal without being cheap

Cheap can simply mean that it's inexpensive, or the cost is less than it's worth. So a frugal person can buy one of these lower cost items without being cheap or stingy. However cheap can also be described as low quality. It would not be frugal to buy something that is poorly made or of low quality because the value may be less than the seemingly inexpensive item.

Take for example the picture above of the banana. Bananas are inexpensive, but they are are a good source of potassium and other vitamins. Therefore, a banana is a frugal choice. On the other side, a bag of potato chips that cost a dollar is cheap both in price and quality because it has little nutritional value. In this case, the banana is the frugal choice and the chips are only a cheap choice.

Can you be frugal and generous?

Many frugal individuals who are frugal in order to be debt free, after becoming debt free, want to share the joy of having money with others. Plus, people are more likely to be more generous because they have the money to do that. If you are living in debt and not setting a budget, so that your money flows away and you don't know where it goes, you will not have many opportunities to be generous.

Not all people with money are generous, but those who are wise and thoughtful with their money - especially when there was a time they didn't have much - they are the ones who are usually generous. Generosity feels amazing, and being frugal in areas where it is wise will make more opportunities to be generous later. In addition to that, when you are generous and other people benefit from it, they want to be generous as well.

What Does The Bible Say About Being Frugal?

There are many passages of scripture that talk about frugality. Joseph stored up food in Egypt so that they would have food during the famine. Also, in the parable of the five wise virgins and the five foolish virgins, it was the foolish virgins that did not come prepared. Additionally there are other verses to point out that frugality is wise but this one is my favorite:

Proverbs 21:17 He who loves pleasure will become a poor man; He who loves wine and oil will not become rich.

To me, this verse is talking about how we should delay pleasures so that one day we can become rich.

Final Thoughts

We can still live a beautiful life while we save our money and work hard. If we do this, we will gain riches and we will appreciate them and know how to use our wealth. Some individuals know how to get rich, but they do not use their wealth wisely and then they lose their wealth.

I hope this article inspires you to be frugal and generous, and to be on your way to becoming financially free.