Thrifty Versus Frugal
Thrifty versus frugal? What are the differences and similarities? These words are adjectives used to describe a certain person who wants to save money. Also, both refer to being careful and economical in spending money. However, we must recognize the fact that there are differences between these two adjectives. The question is, is it smarter being thrifty than being a frugal?
Meanwhile, being any of these two may infer a level of sacrifice in one’s lifestyle depending on which one is you. If you think that being a thrifty one is the one who has a lesser level of sacrifice, I apologize, but you might be wrong. You will instantly understand what we meant as you go through this article.
Thrifty and frugal persons imply the same goal, which is to save money. However, they are drastically different. A comparison between these two adjectives states that thrifty persons intend to make the most of their money while frugal persons are more into getting the best deal for their money.
A quick jump-off to a frugal living for a single person. Living in a house is a great way to train yourself to be independent and smart in spending money. Frugal living for a person who has a family is a massive difference from the frugal living for solos“. In living on your own, you don’t have to consider the needs of others but only for yourself. If you can afford to live alone, there will be no problem. But living alone does not mean sacrifice. Let us correct that kind of mindset.
Thrifty versus frugal
Which is best? As these two have the same goal, let us expand our understanding. The thrifty person focuses on the product’s prices, while the frugal person focuses on the product’s quality.
Being thrifty.
The average people worldwide love getting the cheapest price for a specific product. It’s one of the common natures of a person; unnoticeably, thrifty people tend to become more interested in the product’s price than the product’s quality. I’m guilty while writing this part. This was a little while ago; there was a case when I chose to order a backpack online, assuming that online shopping tends to be cheaper than those bags hanging in the mall. I scroll down my phone for over 30 minutes to get the best aesthetic designs and the cheapest price. Designs do not matter as long as the price is not over the budget. I was checking reviews and placing orders. Sometimes, I am satisfied with the quality of the product, but most of the time, I am not. Yet, I ordered several times via online shopping applications or sites, knowing that reaching my expectations maximized to 50%. But I already stopped when I realized it was not that smart. There are also common cases where people buy a second-hand laptop or vehicle to spare some cents, knowing that that product might have technical issues. And if you get unfortunate, you might have to pay a higher price than the brand new one because of getting the product repaired several times. And as we once believed (because I was once a thrifty person), by being a thrifty person, we are making the most of our money without noticing that we are not.
Being frugal. A frugal person is more interested in getting the quality first, and the cost comes second. Most people would say that this mindset is for the Class As only. But to think of it carefully, rich people become rich because they spend on products with an assurance that they can avail the best deal and have their money worthy. Ordinary rich people’s minds are how they can benefit from the product for an extended time. This is one of the best ways to get rich. As you can be assured, you get the very best of the product, insurance, and warranty. Always choose to have the branded one to check the workmanship and the quality assured. Frugal persons also opt to pay cheap but with a certain quality standard.
Another quick jump-off is that conscious spending can be defined as a spending habit that eventually takes a lengthy process to discern if the product is worth purchasing. Mindful spending is safe to describe because it implies smart spending habits. It is taking time to research or investigate which store is more costumer-friendly in price, ensuring that it fits the budget, and finding ways to save money without sacrificing the long and short-term goals. Conscious spending can also be considered buying anything you want but in a mindful way, guilt-free.
Before buying new things, check all the wardrobes, bags, and cabinets to see if you still have something similar to your desired items, which are usable and good to go. Or instead of buying those items, why not make them yourself? There are a lot of video tutorials on YouTube or TikTok; it can be making a dress, dishwashing liquid, building your furniture, or fixing the leaking pipes on your own. Acquiring the courage to do things independently is crucial to developing self-reliance. Learning to do it yourself is less spending; you don’t have to pay someone to complete the work. And, of course, once you master at least one skill, you can take advantage of it and make it your living or source of income.
Back to frugal and thrifty. The difference between thrifty and frugal is that thrifty people are more concerned about the product’s price. At the same time, frugal people are the opposite of thrifty people. Frugal people are more interested in the quality and price come after. Frugal people can be described as smart investors. They know that if they purchase such items, they’ll receive goods in return for an extended period.
Conclusion
Being frugal is not being thrifty. The two might have the same goal, but there is a massive difference in their way of process. Having the character of a thrifty person might keep you down for a certain period. Quit playing safe and take your entrance to the gate of the frugal world.
And the question is, which is better? Thrifty vs. Frugal?