A Frugal Person Is...

…is someone who is part hound dog and part ferret. I takes the tenacious persistence of a blood hound to sniff out the good deals and the curiosity of a ferret to pick through the piles and bins to find that “treasure”. Whether these deals are new items found on sale or carefully going over the Nickel want ads or sorting through the freebie box at the thrift store. It's the thrill of the hunt that keeps us going. (thanks to my sis-in-law for being that treasure finder extraodinaire who inspires me even today with her terrific finds)

…is someone who is part inventor. Look around you - everything you see was first thought up by some creative person. And I would say that half the time they were trying to find a way of cutting corners or pinching pennies. Whoever thought up PAM spray as opposed to buttering each pan was an inventor thinking of saving time and mess which, in my opinion, is right up there with saving money. I know you can think of your own ideas.

…is someone who is patient. Waiting to buy that 'something' till it is on sale or find it at a yard sale for 25 cents.

… is well suited to being an entrepreneur, too, as we can often times come up with amazing and useful solutions to problems that we can sell to others. It’s that inventor turned businessman. Remember the PAM spray. Or think about post-it notes or Velcro - neat, useful inventions.

… is a generous person for we are aware of others needs. We gladly share our carefully saved money or give of our means for what is important.

…is a wise steward yet not uptight. We know when to enjoy life. We just save for what we want. My millionaire grandfather was known to drive cars for 5 or more years, wear the same wind breaker forever, and eat cheese, apple slices and crackers for lunch everyday. But he would spend freely to outfit his sailing yacht with the latest equipment, buy the best steak and ice cream for celebrating his grand kids’ birthdays, and never thought twice about funding someone’s education.

…will often buy quality at full price when the long term is in consideration. Example: buy mid to top quality shoes spending $50 to $100 instead of being tempted to buy el cheapo for $15 which kill your feet and back. You end up going to the chiropractor because you hurt so bad. The irony of it all is that he/she tells you to buy some good walking shoes for a $50 - $100 in order to save your back!

…knows when to spend money and not skimp. Like the above point, it doesn’t pay to cut corners on some things like buying used medical equipment that someone’s life depends upon it.

…may also be a broke person which is all the more reason to be frugal but needs to be even more careful and, in my opinion, trust the Lord to provide the necessities.

We are not misers. Though we know when to save, we also know the importance of spending/giving. We just know the difference.

We are not cheapskates. We are very careful when we buy knowing the value of our time as well as money. Therefore, we may think twice before buying 'junque' ala Wal-Mart or Dollarama. Unfortunately there are "cheap" facsimiles of quality products to be had. As a frugal person, we think about whether it will actually add value to our life or will it cause us grief (will we throw it away three days later or have to return it for refund). Perhaps that name brand look-alike that costs pennies on the dollar compared to the real thing is just a whitewashed pretender that will not stand up to the test of time.

By now, I hope you are getting the picture of a frugal, prudent steward of money, time and assets. There are other names for a frugal person like tightwad, skinflint, skrimper, etc. I don't think these are complimentary or true. Tell me what you think.

It's your turn. You make your suggestions! I’ll add them as I can!