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When does frugal (smart spending) become stingy??

Discussion in 'Money Matters' started by Shanvy, Dec 12, 2011.

  1. Shanvy

    Shanvy IL Hall of Fame

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    Well if you are a person who does not know what frugal is it is spending wisely, giving a lot of thought to spending. while stingy cutting corner, when it is a necessity.

    Who does not need money..it is a necessity and is never enough. the more you earn, the more you spend. it is said our needs(or our thinking of needs) increase directly proportional to the income.

    and savings enters the game plan.. and there rises, smart saving without being stingy..

    I know people who pinch pennies just for the sake of doing it or the thrill of having a filled coffers.

    IF you are looking at deals, working out finances, and still enjoying towards working out a goal like saving for a travel..that is smartness..you are frugal.

    you go out in a group, where you are told that the cost will be shared equally among all, and end up ordering for the costliest item because you think the cost is going to be shared, it definitely is cheap and stingy.people overlook this once, twice but definitely conclude you are stingy in the end.

    Uncle scrooge is the first person that comes to mind when i think of stingy and when i think of frugal, i can think of many.

    I am a frugal by habit.

    So who is frugal and who is stingy according to you..and state an example to differentiate the same.
     
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  2. hemalathaK

    hemalathaK Platinum IL'ite

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    I have seen many women who don't buy some items like dry nuts, cardamoms, honey, butter, cocoa, saffron etc even if they are financially very sound.These ladies sometimes wish to eat some homemade special dishes and end up just longing for it because it becomes impossible for them to go and get them from shops at the necessarily needed time.I would call these people stingy.They do not know how to live a life with utmost satisfaction.

    And there are some women who readily keeps these things in stock and enjoy their life when the necessity
    comes( not festivals or functions, but the urge to eat is what called necessity here).I would call them frugal.
    These people know how to enjoy their life and be smart simultaneously .I think I am frugal.

    I think this is the most simple example that is common among the ladies.
     
  3. Shanvy

    Shanvy IL Hall of Fame

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    hema,

    I reallly wonder..in the first case, they think only about the effort, the cost of the ingredients, and fail to realise it works cheaper over the long run.

    regarding stingy i know a person let us call her x,she will come home exactly as i finish the cooking, ask me what is being cooked, let me taste, eat full, give her daughter also and tell me since i have already eaten here, can you pack some for my husband so that i don't need to cook..that is downright worser than being stingy right....
     
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  4. Shanvy

    Shanvy IL Hall of Fame

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    I would like to say Warren Buffet and frugal in the same breath..he lives life simple, planned . to quote his philosophy "Success is really doing what you love and doing it well. It's as simple as that. Really getting to do what you love to do everyday - that's really the ultimate luxury…your standard of living is not equal to your cost of living. " he still lives in the same house he bought in 1958. he draws the same salary for the past few decades. and he is always looking on for bargains..though there are lot of arguments regarding his style of living, that he does not know to live life..here let us just take a few leaves out his lifestyle to learn that being frugal has sense, didn't it make him the man who could buy companies from the humble soft drink seller...
     
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  5. hemalathaK

    hemalathaK Platinum IL'ite

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    Very well said Shanthiji, especially the above lines are very true.
    I have a similar story like the one you said about the lady.A lady lived in our opposite house in my mom's place.They have their own house, farm lands and cows.

    The husband and wife usually never have their breakfast and go to the field early in the morning and come
    back by 12 or 1 'o clock to have their lunch directly.I used to go to their house sometimes to chat with their
    dd( of my age).

    Once I went to their house when they were having their lunch.The man after eating his first schedule
    rice asked the wife to serve some more rice.For that the lady said 'enough eating, you can eat the
    remaining in the night, wash your hand'.The poor man followed the wife's order.

    I was really shocked to hear this.Since I knew their routine, I was thinking like" come on, this is not a snack to set the limit, after all he is so hungry and tired why not serve him some more rice?" I couldn't say this
    fearing the lady's big mouth.

    What a life is that? What is the necessity to live such a life? God's creatures uh? Who can change them or who can enlighten them?
     
  6. harinisripada

    harinisripada Gold IL'ite

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    When does frugal (smart spending) become stingy??

    When you become penny wise pound foolish (paise wise, rupee foolish) when you pinch paise and spend rupees

    When the effort for frugality exceeds the worth of the savings made
    When the savings made makes someone sad or spoils someone's health
    When the spending gives something to someone needy and we can afford it


    When I save 20Rs for auto and walk even if I am very tired and it is hot outside, but spend Rs 400 for a taxi when it is my inlaws or parents who have to go out :) so am I frugal but not stingy :)

    When I wait for two months to get a small mixi jar, instead of buying an entire new mixi :) I'm frugal, because I can use the chopper for the chutneys (bit coarse, but ok for 2 months)

    But when I go out and spend the same 4000Rs for buying soft toys made by the disabled children, as diwali gifts for the kids in the family (total 10 kids :)), I am not stingy :)


     
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  7. Mahajanpragati

    Mahajanpragati Platinum IL'ite

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    hi,
    as harni has very wisely pointed out there is thin line or rather blurred distinction between the 2.

    one is frugal when one has same sense towars his own & other's things.you save petrol money by walking home but take office car 20 km outside city to buy fresh veg ........are u frugal or just stringy'.
    you throw out the sweets a friend sent you but will finish off the 3 days old custard you made youself ,what can it be called.
    i guess frugal is when you use resources whether personal or govermental or of some other person just the way you would use your own.

    pragati
     
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  8. Varloo

    Varloo Gold IL'ite

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    Hi Shan,
    You are right, there is difference between being frugal and stingy. One of my relatives buys veggies from wholesale Market for just 2 people. When they are stored for long time, they spoil and most is thrown out. They could buy in small qty and have fresh ones instead.
    Another friend used to fill only 1 lt petrol for her scooter, saying that it will vaporise. She uses her vehicle daily. When I pointed out that she is driving 1 km to the petrol bunk and so what she is doing is not saving her money, she realised her mistake.
    I lead a life style according to what we have, enjoying life and saving too.
     

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