Being Frugal vs. Being Cheap

There’s a thin line between being frugal and being cheap, but how do we know when we’re in danger of crossing it?

Being frugal is being resourceful and savvy about how you spend your money, whereas being cheap is trying to cut corners to the detriment of yourself or others just so you don’t have to spend money.

Click the link to find out the differences between the two and be able to answer the questions that follow:

http://www.wisebread.com/12-ways-to-tell-the-difference-between-being-frugal-and-being-cheap

Let’s discuss:

  1. What’s the difference between being cheap and being frugal?
  2. Can you manage your money to the end of the month?
  3. Are you saving money now? Why? Do you regularly save money? Why?
  4. When was the last time you spent money on something you didn’t really need? Why did you do so?
  5.  Do you go shopping when you are sad? What do you buy? Do you need them?
  6. Are you good with money?
  7. Are you more of a generous or frugal character? How about other people in your family?

 

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