Frugality vs. Stinginess

A frugal man has no problem paying more, if it means more quality and value. He does not enjoy paying more for no extra quality, or just for hype, or even perhaps, needless convenience. He doesn’t appreciate being fooled into paying more for brand value, or for impulsive buying. He detests being scammed into paying more for nothing but meaningless fantasy surrounding a product of service. Not falling for marketing schemes does not make you stingy.

A stingy man, on the other hand, doesn’t like paying more, even if the price comes with more quality. A stingy man is fine with lower quality, as long as it costs less. And the irony is that the stingy man is more likely to fall for scams: paying more for no additional quality. You’ll find stingy people driving around in used luxury cars, which represent the epitome of a scam - paying more for meaningless hype, instead of quality. They pay more for cheap perceived attention, not actual functional quality. They drive a used Mercedes yet believe that the cinema is a waste of money just because TV is free.

Aim to be frugal, and even lavish with your money when excess is an investment in value. For example, if you are self-employed, and owning an expensive car serves as testament to your success story, then by all means, lavishness here is a real investment. But if you’re just an employee who gets into debt to buy a luxury car just to impress the easily impressionable, then that’s folly. You’ll become stingy as you count pennies for your loan payments.

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