The Difference Between Being Frugal And Being A Cheap Person
Saving money is a good thing but some people take it too far and end up costing themselves more time and funds in the long run. If a person honestly doesn't have the money, that's different. I'm talking about the ones that have plenty but choose not to spend it.
How do you know when being a tightwad is getting out of hand? Do you have Spending Anxiety Disorder?
I’ll give you some examples of situations.
Leaving a roof leak so you can keep your money in the bank drawing interest. For some it’s a challenge to see how long they can go before actually paying a repairman or taking care of the situation. They rationalize that they are too busy or tell themselves, “It can wait.”
Eventually the hole gets bigger, water tends to run along boards and pipes making its way to other areas. Sheetrock crumbles, mold grows, clothes and flooring ruin and before you know it that small crack in the ceiling has created a large problem and will cost the homeowner much more than he bargained for.
A better solution is to address the problem early on, calling around to get the best deal having service people give you estimates and referrals.
If you are good with your hands, consult manuals and look online for ways to fix the problem yourself. Just beware because if you don’t know what you are doing this can be just as bad as doing nothing at all.
Giving too small of a tip or none at all. “Those guys are just begging. I work just as hard as they do and no one gives me a tip.”
Waiters and other service people often work for less than minimum wage and live on tips.
The conservative thing to do would be to figure out 15% of your total bill and pay them what they deserve.
The word tips comes from an old practice in Europe standing for “To Insure Prompt Service”. They paid in advance to get better treatment. Today we give at the end of the experience and should tip according to the quality of their work.
Out With Friends
Borrowing money and expecting other people to pay your way or cover for you.
You have enough money you simply see this as another way to save and figure your friends enjoy your company; that should be compensation enough. They shouldn’t always choose such high priced places to go.
A better way to save money would be to ask your buddies to go to less expensive places on occasion. If you don’t want to pay the asking price look for coupons online or stay home when they go to higher priced places. Look for days when they have half price or two for one deals.
Letting oil leaks go until they have left a stain on your driveway and those of your friends and family.
When people start asking you to park in the street you know you’ve gone too far.
Not only is the leak leaving a horrible mess it’s not good for the environment.
Concrete is a porous material that absorbs liquids and holds color indefinitely. Getting oil out of a driveway is impossible and the only thing you can do is cover it with another material that isn’t cheap and the process is labor intensive.
Check around for a reputable mechanic that doesn’t charge too much and get the problem repaired or get rid of the vehicle and buy another one.
If your wardrobe is the joke of the family or your friends, then perhaps it’s time to go shopping.
Fashion changes frequently and you can wear basic items for years to come but if your current items are threadbare or more than 20 years old, it might be time for an update.
Shop for sales, look at consignment shops or thrift stores. Garage sales sometimes have good choices people have outgrown or no longer need.
You can still look good for less if you check around. The day after Thanksgiving is a good time for brick and mortar retail bargains but if you don’t want to brave the crowds try Cyber Monday, the Monday after Thanksgiving. Look online and you can find all kinds of deals, many with free shipping.
At the end of winter is a good time to buy coats and outerwear, the end of summer is a good time for cooler clothing purchases.
Wearing outdated or ratty looking outfits could cost you a raise or promotion. How you look is important and an investment to your career and even personal relationships.
- Are You A Collector Or A Hoarder?
Having a collection of things is a good wholesome hobby but sometimes people get carried away and it takes over their entire home. There are four different types of collectors: Collector, Extreme Collector, Pack Rat and Hoarder.
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