A thread between Stingy and Frugality

You might be stereotyping on the term frugal and stingy, connoting a word which is be inappropriate in its real sense and meaning. I am guilty of this with my mom, whenever I am with her asking for this and that which she didn’t agree, I would quote her STINGY. Well as I grow up and finally held my own expenses and salary, I have realized the stereotyping that most of us do. According to Dictionary.com Stingy implies to reluctance to give or spend; not generous; niggardly; penurious. While frugal means economical in use or expenditure; prudently saving or sparing; not wasteful. These two words are very much different in meaning. Thus, we label the people. You might confuse the words when you didn’t get what you want or when you have something deep inside for that person, but for the spirit of fairness. Let us discuss the difference between the two. [caption id="attachment18035" align="aligncenter" width="245"] From http://itsallaboutwomen.com[/caption] Frugality If you are wise, then you should know where and when to spend your blood shed finances. It’s learning to say No, when the biggest temptation lies in front of you. It involves consequentialism, when you try to decipher whether it will be beneficial or not. However, it does not delimit you from being generous at times. It just involves a mature analytical thinking of where to place yourself in the stand of finances. You can use the 3R as to develop this character (see 3R Hitting Economic and Ecological Management) . Frugality is helped with by our goals and fixed expenses. These two serves as the motivator to keep your finances stretching, so it is important that you have mindset for those. Such examples of being frugal is having the control over impulse buying, getting only what you need. It can also be applied when instead of buying expensive books; you buy at book sales or download PDF copies. It’s like buying generic crocs shoes in “bangketa” rather than getting the original one which looked exactly like the generic. It’s is buying a generic medicine with over 50% less than buying a branded medicine which works the same as generic. [caption id="attachment18036" align="aligncenter" width="479"] From http://jonhappiness.blogspot.com[/caption] Stingy This one might be a little dangerous not only to himself but also to other’s expense. Stingy is an overreaction of what is supposed to be wise money keeping. Most of the time, this one falls to a tragedy instead of saving. It may also lead to self-centered thinking, and will take advantage of most others just for them to save their ever loving money. I cannot blame any stingy people because like Frugality, there are also factors that motivate and affect it. It may be fear that they have experienced before or simply the trauma of not having anything. Let me give you some example of this not so good money keeping. You want to save so hard, that you buy a cheap thing which are impractical because it easily wreck out, or you borrow things from other people with a plan of not returning it without the feeling of guilt because you feel that you saved more by this. Another example is by taking advantage of other people so that you can save on lunch, fares and everything. Well, this thing will rip out respect from other people. You can also be motived by your goals and expenses but your social and moral health might be compromised. It is not best to judge on people’s money decisions. There is a thin thread with this stereotyping, what you can do is decipher the difference and be what is out to be. Goals, moneykeeping is out of the question, the only question is how do you deal with it? Are you Stingy or Frugal? Sources: http://www.pennilessparenting.com/2010/06/frugal-vs-stingy.html http://voices.yahoo.com/the-difference-between-stingy-frugal-188075.html?cat=3 http://dictionary.reference.com/browse/stingy http://www.italki.com/answers/question/109035.htm

Mark Hugh Neri

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