The Difference Between Budget Living and Being Cheap

being cheap

When many people think about becoming budget-conscious, they cringe because they associate living on a budget with being cheap. They don’t want to be known as, “That cheap SOB.”What they don’t understand is that the two terms are very different. You can live on/within a budget without being cheap.

Living on or within a budget means that you know how much money is coming in and how much you have available to spend on things like housing, food, utilities, and extras. A budget keeps you from overspending because you know exactly what you have and where it’s going. You’re saving money, but you’re doing it by spending wisely (or not at all). Being cheap,

...

[Continue Reading at SavingAdvice.com]

This entry was posted in Budgeting, Frugal, Personal Finance, Saving Money and tagged , , , , , , . Bookmark the permalink.

6 Responses to The Difference Between Budget Living and Being Cheap

  1. Wanda Thibodeaux says:

    I think this is a good point to make, especially to kids who are learning. Maybe this is why over half of the people in the United States don’t have a budget set up despite the recession…I think goal setting is a major part of it, because with goals, you are putting money toward specific things.

  2. SchemaByte says:

    I like your qualification of these terms.

    My preference is to be called frugal, but damned straight you shouldn’t save money by gaming the system or others. Harm none.

  3. Jessica says:

    I think the author is confusing being cheap with being dishonest. Big difference.

  4. RoseShengmeiChIsholm says:

    Please do donate clothing with stains and holes. They can be recycled into insulation.

  5. Nathalie says:

    That is a great point. Although one may not be able to wear those clothing for lack of aesthetics, we all should practice recycling accordingly. Until they make donation boxes strictly for ratted clothing and fabrics, it just gives an unemployed individual something to do thus creating a pay job or community service. Either way a total win situation!

  6. Nathalie says:

    This is an excellent article. I am a young adult dealing with balancing my budget in really struggling and uncertain times. I am already in slight debt back when I lost my job and had to rely on my new credit cards because I don’t have family to help and I am not one to borrow money nor lend from friends. I do my best to budget and am learning to maintain. Not easy, but this article lets me know I am doing okay!

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>