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Straight Story: Frugal or cheap?
Economics editor Chris Farrell
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About the author
Christopher Farrell is economics editor of Marketplace Money, a nationally syndicated one-hour weekly personal finance show produced by American Public Media.
Dear Marketplace
You normally have a wonderful show, but this segment was shocking! When Chris commented that Tess is being frugal by bringing her left-overs from dinner to work as lunch the next day, I thought you must be joking.
It's like saying Tess is frugal because when she breaks a $20, she uses the change the next day to catch a bus to work, instead of getting a fresh $20.
Well of course she should use the resources she already has. That's common sense! That's what 99% of the world does. The US is the exception!
Frugality would be taking half of the left-overs to lunch, so she can have the remaining half for dinner.
Cheap is buying poor-quality food that's bad for you, just for the sake of saving money, in otherwords, placing saving money above all else, including quality.
As a European, I'm constantly shocked by how wasteful North Americans can be (granted I'm generalizing - many set an example to the world too).
In that respect, I think you should dedicate an entire show to common sense approach to resources. Eating, as most people around the world and many in the US are aware of, is a priviledge, not a right.
Again, a shocking comment in an otherwise brilliant, informative and educational show
Thank you!
Thank you for discussing the difference between frugal and cheap. As the 3rd of 4 children, I've always had a drive to be different, even when (or especially when) it was not "cool" to people who knew me.
I spend a good part of Sunday evening packing up food to take to work all week, and knowing that what I'm going to be eating is better (and less expensive) than that frozen thing someone else is zapping.
And when I switched from an almost-daily latte to a once-a-week latte, I found I appreciated that great taste even more.
Then when I have the funds to get a haircut at the nice place (a bad haircut is an ugly outfit you have to wear every day) or take a trip, it's a double win!
I've decided my mantra is "it's all about budgeting" whether that's money, time, nutrition, entertainment, even sleep.
Thanks for all the great stories about applying good sense finances to REAL life!
-Angela
