Are you being frugal or cheap?

Here are the differences between cheap and rrugal according to Erik Folgate of


Looking for deals and taking advantage of sales and promotions when you were already planning on purchasing something
Delaying pleasure and instant gratification to make a big purchaseNot making a point to tell friends and family every time you saved money
Not obsessed with brands
Does not sacrifice quality to buy something only because it is cheaper


Your cheapness affects the quality of life of others such as spouse or family
Your basic needs are of lesser quality
You never splurge a little when you have the money to spend
You will sacrifice quality to buy what is the cheapest

How about you? What are your thoughts on being cheap and frugal?