4 Common Misconceptions about Frugal People

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First time I came across a discussion describing frugal people, I was certain it was about people who hate spending money. The ‘synonyms’ used to describe them were nothing close to the real meaning.

Surprisingly, I was not the only one who held such thoughts.

Capitalism, industrialization and marketing have created an unnecessary supply of products and services. These three culprits have twisted people’s perception about frugality and promoted consumerism. A behavior that has seen non conformists misunderstood and labelled.

In this article, I will debunk the four common misconceptions about frugal people.

1. Frugal people are poor

The school of life teaches that, sometimes, poverty is a mentality.

Spendthrifts make it look like their lifestyle is the measure of good living and anyone below their standard is poor, which is not the case.

Poor people barely have anything. Frugal people aren’t poor, they just don’t give in to marketers and peer pressure. Most choose to live within their means. Why own two cars when the one they have serves them well?

They know chasing trends won’t help them achieve their goals. At their own pace, and using their own means, they will buy assets.

2. Frugality hinges on being stingy and unsupportive

Stingy people are inconsiderate poor decision makers. They hate spending money. To them, everything is a big deal, which is not the essence of frugality. A person who would rather walk long distances instead of taking the bus is an example of a stingy person.

As much as frugal people are firm financial managers; they are generous by their means. They make sound financial decisions and can support worthy causes, but won’t get into debt or ditch their goals trying to show support.

They value their commitments.

3. They are cheap

Cheap means low cost, quality notwithstanding. Cheap people prefer low-cost items. Look at it this way, Client B buys a costly quality shoe that serves them for over a year, then there’s Client Y who repeatedly buys cheap inferior quality shoes. Between the two, who is frugal and who is cheap?

Durability makes more economic sense because it reduces expenses in the long run.

Frugality is not just about cost; purchases and investments must make economic sense. Though a dip in finances may force one to downgrade, this doesn’t imply frugal people being cheap.

They will bargain if necessary to get good deals or visit several stores before making a purchase.

4. Frugal people are petty

This misconception is common among ignorant employees and dependants.

People who don’t feel the weight of bills.

Instructions aimed at minimizing production costs are usually ignored, and repeating them gets one labeled a complainer.

Regardless of what others may think, frugal people can’t afford to be spectators in their backyards. Not when resources are misused. A dependant may take offence at being instructed to switch off the lights or use home supplies prudently.

To avoid budget deficits` and increase ROI, frugal people manage their resources efficiently.

Wastage undermines the goal of frugality.

Clearly, misconceptions about frugal people are based on nothing except ignorance and assumptions. Frugality relies heavily on sound financial practices.

Are you aware of other misconceptions about frugal people? We would like to hear about it in the comments section. Don’t forget to follow frugaltribes.com for more information about frugal living. You could also Like or follow us on our social media pages.

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