Life is full of different personalities. We come across many types of people in our day to day life. While some are known for living a contented life which is of high quality, certain others seem to be making decisions more based out of cost than quality. The first set of people mentioned above is more prone towards being quality conscious while the second set of people appears to be compromising on quality. Both these types of people co-exist in the society being termed as frugal and cheap respectively

Influence over the purchase decision

 While Sales & seasonal offers influence the purchase decision of a frugal person, low cost offered to the product they want to purchase will influence the buying decision of cheap people.

Quality of the things purchased

Frugal people who wait for offers to make their purchases never compromise on the quality of the things they purchase. However, cheap people who are highly cost conscious tend to compromise on the quality and fall in for products even if the same is bad

Immediate and postponed requirements

 Frugal people tend to postpone their requirements and bear with the delay in enjoying the pleasure, waiting for the best deal and timing of purchase. Cheap people tend to get instantly gratified just because what they want is available for cheap cost even if it means compromising on the quality

Elimination of brands

 While at the outset it appears that both frugal as well as cheap people do not go in for branded purchases, there is a thin line that differentiates the actual intention of both. Frugal people do not get carried away by brand names but tend to look for quality even in unbranded purchases. However, cheap people do not go in for branded one because they are cost conscious. This is one of the major differences between the frugal and the cheap

Bottom line is different

Frugal people tend to cash in on the sales offers and discounts given from time to time as a part of their savings strategy. The bottom line of frugal people is value for the money spent. Cheap people, though working towards the same savings goal tend to do the same compromising on the quality. The bottom line of cheap people is the cheap cost

The holistic view

Frugal people tend to increase the value of their purchase in a holistic manner. The factors they take into consideration for doing so include not only the direct cost of the product but also their energy and time invested in purchasing the same. On the contrary, cheap people are never worried about any factor other than money value of the product purchased

Being Frugal and cheap has a fine line drawn between them. While being cheap takes care of many short terms requirements, the lack of quality can eventually cause huge dent on the long run. In contrast, being frugal helps people spend in a wise manner that can fuel their dreams on the long run while fetching them only quality products in short term