The short version
- Cheap asks: what is the lowest price?
- Frugal asks: what gives me the most for my money over time?
Examples
| Situation | Cheap | Frugal |
|---|---|---|
| Work shoes | The $25 pair that lasts a season | The $90 pair that lasts four years |
| Dinner with friends | Not going | Hosting a potluck |
| A tip at a restaurant | Leaving less | Going out less often and tipping properly |
| A tool for one job | Buying the cheapest | Borrowing or renting |
The cost per use test
Divide the price by how many times you will use it. Our cost per use calculator does the sums. A higher price can be the frugal choice when it lasts much longer.
Spending on what you value
Frugal people still spend, sometimes generously, on the things that matter to them. The point of cutting elsewhere is to make room for those.