I’ve heard it countless times – I’m sure you have too. Someone decides to be frugal, which is well within their right, and they’re called cheapskates because of it! Well, I’m here to say that you should stop calling people cheap just because they’re better than you at saving money. After all, there is a difference between being cheap and being value-oriented when it comes to spending money. Don’t you want the best bang for your buck, or for your money to be spent on things you care about the most?
Calling People Cheap
First off, stop calling people cheap. Make it a new personal goal if you do this regularly. Calling someone cheap is just flat out rude and completely unnecessary. Sometimes, when I see it, people are either being overly harsh or are just jealous because they have a spending problem. People with a spending problem seem to hurl insults at those who have a good grip on their financial health. If you try to be frugal, you’re called cheap. If you try to invest aggressively, people call it a pipe dream. For those who set aside money in an emergency fund – they’re labeled as people who aren’t willing to take on risk.
You’re screwed if you do and screwed if you don’t. If you’re one of the people making these hasty judgments – stop. If you’re dealing with people making these types of judgments about you, move on and detach from those types of individuals.
The Minimalist Lifestyle Gets Confused With Being “Cheap”
The minimalist lifestyle is actually simple – it’s about taking control of your life, focusing on what you truly want, and being able to obtain financial security. When you skip all the excess spending, you’ll find it’s a lot easier to accomplish your goals.
Beyond that, minimalism is also relaxing when done right. Minimalism doesn’t take anything from you or deprive you of your desires. Instead, it puts extra emphasis on the most important things to you. It’s possible to go overboard and take things too far, as with any other frugal habit or lifestyle. However, minimalism is truly designed to help take a load off of your shoulders. Having the ability to focus on your main wants, and ignoring the excess, is a huge weight relieved. Most people don’t even realize how much of a burden it is until they try minimalism at least once.
It’s About Priorities
Anyway, the point about all of this minimalism stuff is that life is about priorities. Just because someone focuses on one thing and doesn’t care to spend on another, that doesn’t make them cheap. It just means they know exactly what they want and are committed to it. Of course, this is a common topic people get confused about, and it’s the reason I decided to write this article to begin with.
It’s Okay To Spend
To be clear, spending less than you make is a great thing, and should be the norm. Unfortunately, some people take it so far that they neglect important expenses like healthcare, home and car maintenance, or even basic toiletries. Beyond that, it’s also okay to take care of your core wants!
Experiences and expenses that help you stay happy over the long-term help prevent burnout and keep you on track to reach your financial goals. Usually when individuals try to live too frugally for a long time, they either give up altogether or play “catch-up” and have large splurges where their spending gets out of control. Making sure you spend some money on things that bring you joy helps you not only have a better quality of life, but it helps you be consistent when working towards your financial goals. You shouldn’t naysay those who have found this balance by calling them cheap!
But There Have To Be Limits
Obviously, lines have to be drawn. Fortunately, that’s where a good budget comes into play. Creating one shouldn’t be scary, it can even be fun, but if you’re intimidated start by seeing what you spent your money on over the last 1-3 months. You should be able to identify any problem areas and can keep a closer eye on them in the future. For example, if your spending seems mostly reasonable but you notice you spend hundreds of dollars on eating out, you can easily give yourself a head-start by creating a hard budget for that specific expense. Additionally, automating debt repayments, savings, and investments can help make sure you don’t overspend without realizing it.
Don’t Give Up On Your Major Wants
As I said, experiences and expenses that help you stay happy over the long-term help prevent burnout and make it easier to maintain the discipline needed to reach your goals. Obviously we can’t have every amazing experience under the sun, but we can find the things most important to us and focus on them.
Think of it like dieting. You may count calories and avoid or limit certain kinds of food in order to lose weight. Perhaps you went a bit overboard and basically limited yourself to eating the same 1 or 2 bland foods, day after day. Most people probably keep that up for a week, some for a few. Hardly anyone can keep that type of diet up for a long time. Generally, people end up cracking and eating junk for several days straight – resetting all of their progress. Your personal finances and spending can be a bit like that.
Think Twice Before You Call Someone Cheap In The Future
Again, it’s just rude. Also, you really don’t know if they’re being cheap or not. It’s more likely that they have their own priorities, and their actions are related to that and not based on impressing others or being flashy. Personal finance is just that – personal – so let them approach it their way, without being shamed or guilt-tripped for not spending money on certain things.
Conclusion
Hopefully this article convinced you not to call people cheap anymore, and to rethink your perspective on the spending habits of others. Even better, hopefully this article convinced you to rethink some of your own priorities and how your spending is in line with them. If you have any thoughts on the topic, as always, please leave a comment!
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