New Quiz: Are You Cheap?

girl flipping through a lot of money

Are you cheap or extravagant?

Is it chic to be cheap? I think so, at least in moderation. The past few years has certainly given me a whole new appreciation for frugality. A frugal or cheap life is easy on the planet, my wallet, and when done right, on my stress levels. It feels good to need less and leave less of a footprint.

Speaking of cheapness and frugality, is there a difference between the two? They seem to be used interchangeably online, but I did some research to find out before writing my latest quiz. It turns out that frugality means economizing resources and funds, while cheap means getting the lowest price you can. So it’s totally possible to be one, both, or neither. I’m probably more frugal than cheap, but like everyone, I like a good bargain.

I think it’s cool to be frugal, but I also know it’s not feasible for everyone… just like extravagance isn’t feasible for everyone (okay, most of us!). I think a lot of us tend to go through phases in our lives when it comes to spending. When I was younger, I was a lot more extravagant or spendthrift. But as I get older, I don’t want to worry about money while I’m trying to sleep at night. I also have found that money is less important to me than having the life I want (time for hobbies, running Blogthings, etc). I am willing to trade “things” for my chosen, lower key lifestyle.

What about you? Are You Cheap? Or frugal? Or something else? Take my latest quiz to find out. There are no right or wrong answers to this one, and hopefully it will provide you with an accurate picture of your monetary habits these days.

Discussion topics (Comment below and let me know any or all of these):

  1. What do you get onย Are You Cheap?
    Is it true for you?
  2. What’s your favorite tip for spending money?
  3. What do you spend more money on upfront to save money on in the long run?

What do you think?

10 thoughts on “New Quiz: Are You Cheap?

  1. Josh

    You Are Balanced

    Your approach to money is pretty average. You spend a little and save a little.
    Of course, you enjoy getting a great deal, but you also give into a fair amount of impulse purchases.

    A frugal lifestyle seems depressing to you, and you can’t imagine going without just to sock away a lot of money.
    You love to go out and have fun. The things you buy make you happy. And there’s nothing wrong with that.

    It seems like you have a healthy approach to spending money, as long as you’re staying within your means.
    If you’re not sure if you’re spending too much (or too little) consider trying a budget for a few months.

    Reply
  2. Anna

    1) I got “Frugal” Spot on, I’d say. ๐Ÿ™‚
    2)My tip is that spending money does not make you happy. Rather, saving money keeps unexpected financial costs from being emotionally burdensome.
    3) Basically, the more something costs, the more I’d feel more comfortable paying for it in cash. Nothing worse than credit card bills piling up.

    Reply
  3. Rachel R. (@REReader)

    I got “You are Cheap”, but I think that it’s more that I am, erm, not precisely doing well–at least for just now! (I’m a freelancer, which is not a good thing in a weak economy.)

    My favorite tip for spending money is to honestly answer “How much do you really need/want this?” If the answer is “not really so much,” don’t.

    I’ll spend more money upfront on things that will last, because they cost less in the long term. For example, my iMac is going on for 6 years old, but it’s still running fine–a cheap computer has to be replaced a lot more often. And good quality, classic-style clothing is a much better investment than the latest fashions, which you can’t wear more than a season or two.

    Reply
    1. kari Post author

      Oh yes, definitely have many freelance friends who are tightening their belts right now (as many of us are). I like your tips, and I agree about purchases that are an investment. We probably get more per dollar out of our Macs as well =)

      Reply
  4. Monica T.

    I get balanced… And that is true for me. I do love to spend some money to buy things I’d like, but I also love to save a little for ‘a rainy day’…

    I think I don’t really have a tip for spending money.. Every time I found something I would like to buy, I just ask myself over and over again : do I really need this? That usually work for me… Don’t know for others, though…

    Hmmm…. To save money in the long run… I guess this is what I do : for items I would use everyday, I chose to buy things with good quality even though they’re expensive, because in my opinion, it is better to spend much money for one quality item you’ll be able to use in the long run rather than save money to buy some things that won’t even last a month…

    Thanks for a great quiz! ๐Ÿ™‚

    Reply
    1. kari Post author

      You’re welcome. Thanks for the great analysis!

      I like your idea of only buying things if you really need them as well as going for quality. When I was younger, I bought the cheapest thing possible… but over time I really got to see how quality lasts ๐Ÿ™‚

      Reply
  5. julie

    Yep! I am cheap, but I have to be. It’s not a life style choice. Mind you, even if I was very wealthy, my conscience wouldn’t let me be profligate, it just isn’t in my nature.I would rather live modestly and use my money to better help others, rather than indulge my every whim.

    Reply