I chanced upon in Yahoo! last night a 6-minute interview of Farnoosh Torabi, author of You're So Money: Live Rich Even When You're Not. It's no longer available in Yahoo! today but what I was able to find is the source of the interview at ABC News (click on the pic for the link). The interview was quite nice, and briefly but sufficiently provided a distinction between being frugal and being cheap. In a nutshell, being cheap is characterized by a short-term minded approach to saving. While being frugal is a thoughtful, measured, and long-term approach to saving. Sounds clear enough, but it can get confusing in actual practice.As discussed, some of the tell-tale signs that one is no longer being frugal but already being cheap include the following:
1. Passing up on opportunities if it means spending money
2. Being disrespectful to others when trying to save
3. Wasting time trying to save money
4. Feeling entitled to a deal
5. Focusing solely on short-term goals
For the rest of the discussion, see the interview by clicking on the pic above.
3. Wasting time trying to save money
4. Feeling entitled to a deal
5. Focusing solely on short-term goals
For the rest of the discussion, see the interview by clicking on the pic above.
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