I’m going to be busy the next couple of days and might not have much for you. So I thought I’d throw out a question — or rather, repeat a question thrown out some time ago at the Balancing Beauty and Bedlam blog (love that name): Cheap vs frugal? Which is which?
It’s an old question, but ever-relevant — and not just because so many freedomistas are also frugalistas, bent on getting value for their FRNs and avoiding messy money entanglements.
It’s relevant to me in part because I grew up around somebody who believed himself to be frugal but who was in fact not just cheap but the classic “penny wise and pound foolish” — a person obsessed with price who never developed the slightest concept of value. The financial and emotional repercussions of that mindset can still make my head spin.
I would almost make a general rule: Being frugal helps you be free; being cheap makes you a slave to your own small mind.
Anyhow, Beauty and Bedlam takes a look at some actions: frugal or cheap — and how do you tell the difference?