I get static for being cheap. I use too many coupons, think before I spend (do I really need this? Could I re-purpose something else to fulfill this need?) and sometimes go out of my way for a deal. This mentality – likely instilled in me from my money-smart parents – comes with getting ridiculed.

In a world of large loans, big cars and even bigger homes, a desire to instantly own the latest and greatest has taken over every bit of logical thinking. So when I get pegged as being cheap, my blood heats up a bit. I’m aware of what I spend, and would rather not watch the money I earn go to an overpriced restaurant, quick thrills or interest on things I can’t afford.

There are varying degrees of how people spend, and they should all be respected (unless, of course, it impacts you). Some people spend it like they got it, even though they don’t. Others blow it the second they get it, as if there’s nothing in the future for which to save. The money conscious plan for the next emergency or home improvement project, and leave some cash aside for memorable adventures, too.

Making it all balance is an art. But if we’re going to name call, maybe we should walk through the labels of frugality, so everyone understands the definitions.

CHEAPSKATE
Definition: A person who is stingy and miserly

Description: Cheapskates like to save, usually at the expense of others.  

Routine Habits:

• Only buys “sale” items at a thrift stores
• Eats off of other people’s plates left at a restaurant if nobody is looking
• Stocks up on expired foods, as long as they’re inexpensive
• Buys something, uses it, manages to return it after multiple uses
• Always refuses to drive, pay, buy, lend, or contribute to any endeavor. Ever.

Commonly says: “I left my wallet at home. Thanks for buying (again).”

Favorite things: Roadside “free” sign opportunities, sneaking into kids’ sports events through the back fence

CHEAP
Definition: Extremely careful with money. Overly frugal.

Description: Quality and class are the least of their concerns.

Routine Habits:

• Mooching off friends and family
• Buying a lot of junk they don’t need because it’s inexpensive.

Commonly Says: “So you have the tickets? Sure, I’ll go. Who’s buying drinks?”

Favorite things: Dented cans, a person who always picks up the tab, re-gifting, shopping after-Christmas sales for Valentine’s gifts.

VALUE SEEKER
Definition: Go-to price experts

Description: Wants the best deal. If it’s less than the best deal, they’ll keeping looking. Has the money to buy most things, but also has the patience to jump through many hoops to reach a better deal.

Routine Habits:

• Waiting for a sale
• Clipping coupons and price matching
• Flipping through ad fliers and comparing prices
• Leaving un-purchased items in their online cart
• Wavering on whether they actually need or want the item. 

Commonly says: “I know Menards runs their 11% off sale fairly frequently, I’ll wait until that sale.”

Favorite things: Senior days/Veteran discounts, coupons, thrift stores, refurbishing, sales

BIG SPENDER
Definition: Spends money freely or extravagantly.

Description: Sets out looking to make one stop for a specific item. Pays full price without questioning.

Commonly says: “I needed it, so I bought it.”

Favorite things: Convenience, perfect operation, having at least one of everything in either perfect or new condition. Prefers “Made in the USA.”

Bottom line, most of us work hard for our money, and dislike spending it without getting a value. Try to respect everyone’s process. Or, take it a step further and find someone with different habits than yours and ask about their approach. Their two cents might be worth something to you.

Shootin’ the Wit is a sporadic blog about everyday life that should never, ever be taken too seriously.