Cheap is the new cool? Thrifty is the new black?
Thrifty vs. Cheap, it’s an on going debate. The words have become interchangeable these days and even with the current financial state the we are in, “Cheap” is even being used as a marketing tool.
Cheap is not a good thing. I don’t know anyone who wants to be known as being Cheap (well maybe one), but being Thrifty is very different. As someone who has been accused of the “Cheap” who has worked hard live with the “Thrift”, I know first hand how people can mistake one for the other.
There are huge differences between the two and many confuse being “Cheap” with being “Thrifty”. Here is a little guide for someone who may be considering the lifestyle.
From Dictionary.com
Some Examples:
Cheap is going to Wal Mart to buy an $8 dollar frying pan, knowing that it’s going to rust and flake and not perform well and you are going to have to throw it away in 6 months and buy a new one.
Thrifty is spending $50 on a Calphalon fry pan, or at least $20 on a good cast iron pan, knowing that it’s the last fry pan you will ever need to buy.
Cheap is going to the bar and drinking the lowest priced beer all night and not tipping.
Thrifty is going to the corner store, spending 8 bucks on a 12 pack and inviting friends over to watch the game.
Cheap is going out to dinner with friends, buying a $17.95 entrée and kicking $18.00 in when the check comes and hoping that no one notices.
Thrifty is going out to dinner with friends, buying the $17.95 entrée and saying “lets split the check X ways” (X of course being the number of people at the table) or even saying “I got this one” and picking up the check, knowing that at some future dinner, someone else will do the same.
Cheap is driving 30 miles round trip out of your way to save .10 on a gallon of gas.
Thrifty is knowing that the time you would spend in traffic and waiting in line is worth more than the 2 bucks you may save on the fill up.
Cheap is buying crappy goods in bulk at a big box store, once again knowing that they are going to wear out in time but thinking that “It’s ok, they are so cheap, and I can just buy more later.”
Thrifty is buying less for the same money but of better quality knowing that it’s going to last.
Cheap is buying something you really don’t need with credit, justifying it by figuring that it will cost so little each month. Not thinking that buy the time it’s actually paid off, you will probably have forgotten about it or gotten rid of it anyway.
Thrifty is having the discipline to save for something that you really want so when you actually plunk down your cold hard cash for the item, you are pretty certain that is something that you not only want on impulse, but something that you was actually worth working for.
Cheap is putting price over quality, whether quality of goods or quality of life.
Thrifty is spending time and money wisely, knowing that if you have to pay a little more now, it will save you in the long run.
Cheap people look at cost, Thrifty people look at value.
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