Geezeo is all about helping people make educated financial decisions, not turning them into misers. Keeping a budget and focusing on your money doesn’t make you cheap. Cheap is not the same as thrift or frugality. Frugal is a way of being that emphasizes getting the most value for your dollar. Cheap is strictly about spending as little as possible. The quest to become master of your financial domain is useless if you end up sitting alone on a mountain of cash. To keep from going there, read these four cheapskate warning signs.
You feel entitled to a discount. All the time.
A wise money manager always inquires about deals and does so politely. Cheapsters consistently try to get something for nothing. The worst offenders actively seek deficiency in a product or service to justify being given a discount. You may notice them yelling, berating sales people, or otherwise pushing people around to get what they want. It’s not the principle it’s the money. Smart consumers know they have endless choices when shopping and there is no need to tolerate truly bad service or quality, even for a discount.
Nobody likes going to dinner with you.
Do you pull out a calculator when the check comes? Nobody wants to ruin a good time haggling over a bill. Eating out with friends is give and take. Take turns picking up the check. It’s dinner not a math test. If you’re on a budget let your friends know and stick to your number.
But calculating every penny isn’t the worst cheapskate dining behavior. Do you know someone who is NEVER happy with the service and leaves little or nothing as a tip? While over-tipping isn’t recommended, choosing to under-tip after receiving competent service says a lot about your character. A date or business associate won’t be impressed if you seem to lack the ability to treat others fairly.
Your buying decisions are based on solely on price.
Researching and taking the time to find the best deal on an item is frugal. A low price doesn’t make something economical. Buying the cheapest can actually cost more if the item needs to be replaced or repaired. Even in an economic crisis most Americans are still fortunate enough to consider the impact their purchases have on the environment, their community, and the world. A good buy used to mean great product at a great price. Now it can also mean supporting the companies and people who share your values. If you can only afford the cheapest then so be it. Being able to afford the best value and buying the cheapest doesn’t mean you’re spending wisely.
You give thoughtless gifts.
The point of a gift is to let a person know you love, appreciate, or respect them. Thoughtless gifts send the opposite message which is bad for all relationships, from love to business. This doesn’t mean you can’t re-gift. Re-gifting is frugal when done with consideration. Giving Aunt Mabel those stilettos you never wore is cheap. Unfortunately custom sometimes demands we buy a gift for a person we’re not crazy about. In the end it’s about the relationship and not the gift itself. Make sure what you give is appropriate to enhance or maintain the relationship. At bare minimum your gift should demonstrate respect for the receiver.
So you’re probably noticing an underlying theme here. Everything comes back to the golden rule. If saving a few bucks gets in the way of being a good person are you really getting ahead?
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Tags: Economy, Financial crisis, frugality, home, Homemaking, lifestyle, money, Personal finance, Regift
