Are you frugal?  In order to determine that, you need to know what the word “frugal” means.

According to the Oxford Languages dictionary, frugal means “sparing or economical with regard to money or food.”  It also is defined as “simple and plain and costing little.”  A frugal person is one who’s ‘economical and values-oriented, prioritizing efficiency and long-term goals by carefully managing their resources rather than wasting them.”  It doesn’t necessarily mean cheap.

It is definitely a mindset.  You want to be smart with your available funds.  Pay less on things that don’t matter and more on things that do.  A good example is to purchase a good pair of shoes that will last a long time instead of a cheap pair that will fall apart in six months.  In other words, spend wisely.

Being cheap is always purchasing things for the lowest cost.  You’ll save money at the expense of quality or comfort.  Using the previous example, you’ll buy the cheapest pair of shoes even though you know you’ll need to buy more in just a few months.  You’ll barely spend anything.

Moral of the story:

Being frugal is about getting the best value for the money you have.  It’s not about depriving yourself or reckless spending.  You choose quality items within your budget, not necessarily the lowest or highest priced thing.