Cheap vs. frugal


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Cheap vs. frugal

  1. 1. “A unique voice on money, i w r d an do i l l ail d i wn fo ds, one singularly attuned to…his generation.” t e y t nt loa a c ac er I WIll h y tic act Vis u t o l tip e sp —San FranciSco chronicle o a iv it b e r s, b re i c on ads h . us h co m ee ts TEAch You by RAmIT SEThI founder and writer of ToBE No Guilt. No Excuses. No B.S. Just a 6-Week Program That Works
  2. 2. I Will Teach You to Be Rich Cheap people vs. Frugal people Cheap Frugal Cheap people care about the cost Frugal people care about the value of something. of something. Cheap people try to get the lowest Frugal people try to get the lowest price on everything. price on most things, but are willing to spend on items they really care about. Cheap people’s cheapness affects Frugal people’s frugality affects those around them. only them. Cheap people are inconsiderate. Frugal people know they have to For example, when getting a meal pick and choose where they spend with other people, if their food their money. If they can spend costs $7.95, they’ll put in $8, only $10 on lunch, they’ll order knowing very well that tax and tip water instead of Coke. mean it’s closer to $11. Cheap people make you Frugal people make you feel uncomfortable because of the uncomfortable because you way they treat others. realize you could be doing better with your money. Cheap people keep a running tally Some frugal people do this, too, of how much their friends, family, but certainly not all. and coworkers owe them. Because of the fear of even one Neither are frugal people. person suggesting they spent too much on something, cheap people are not always honest about what they spend. Cheap people are unreasonable Frugal people will try as hard and cannot understand why they as cheap people to get a deal, can’t get something for free. but they understand that it’s a Sometimes this is an act, but dance, and in the end, they know sometimes it’s not. they don’t intrinsically deserve a special deal. Cheap people think short term. Frugal people think long term. 96
  3. 3. Get the full book at About the book At last, for a generation that's materially ambitious yet financially clueless comes I Will Teach You To Be Rich, Ramit Sethi's 6-week personal finance program for 20-to-35-year-olds. A completely practical approach based around the four pillars of personal finance—banking, saving, budgeting, and investing—and the wealth-building ideas of personal entrepreneurship.