Frugal Vs. Cheap:  What's the difference?

Many people think being frugal and being cheap are the same.

However, they are two very different concepts.  Living a frugal lifestyle is one of the foundations of FIRE (Financial Independence Retire Early).

Frugal living helps you live below your means to reach your savings goals and eventually achieve financial independence.

Here are some key differences between being frugal and being cheap.

Frugal people spend intentionally.  Every dollar has a purpose, and they avoid impulse buys.

People who are cheap focus on price instead of quality.

Frugalists focus on the value they receive for the money they spend.  The focus is on quality, not quantity.

Cheap people avoid spending money.  They tend to have a scarcity money mindset, which is when you feel you will never have enough money.

Swipe up to learn more about frugal vs cheap and the key differences.  You can also grab your free frugal living workbook to help you start living frugally today!