Some people hear the word “cheapskate” and immediately think of a person who is stingy, penny-pinching, hoarding, manipulative and cold-hearted. And while there are a few cheapskates out there who fit that bill and give us a bad reputation, there are plenty more out there who are simply frugal, thrifty, creative, generous, and kind.
If you’re the second type of cheapskate, you’ll know exactly what I mean when I say it’s good to be one.
8 Reasons It’s Good To Be A Cheapskate
Let’s take a little pride in our money-saving ways. There are a lot of good things about being good with money.
You don’t care what other people think.
There’s no expensive “keeping up with the Joneses” mentality in your house. You could care less if people judge you for your 15-year-old car or your tattered sweater. You’ve given up worrying about what others think about your house, your car, and your clothes, and instead focus on the people and things that matter most to you. You’ve got confidence in yourself and a little more money in the bank because of it.
You have less junk.
Cheapskates usually have less clutter than other folks. Why? Because they know how to say “No” to buying stuff! They’re good at weeding out the things that no longer serve a purpose in their lives (Hello, garage sale!) and love finding ways to do more with less. And as we all know, less stuff, more happiness.
You know how to find deals.
You know how to get stuff for free or cheap. You know all the best places to score secondhand goods. You rarely shop without a coupon or discount code or smartphone app. You know how to be a smart shopper.
You know how to have a good time on a budget.
You know how to find frugal fun for your family and how to get the most out of your public library. You can make excellent restaurant copycat meals right at home, and love a good puzzle or board game. When you do go out, you can almost always find ways to save like using coupons or discounts for your outing. You know how to make the most out of any restaurant gift cards you receive (either from Swagbucks or as a gift).
You are creative.
Cheapskates look at things differently than other folks. You can see an opportunity to turn an old sweater into a pair of mittens or empty bottles into home decor. You can turn old vinyl shades into creative spaces for the kids or old jeans into denim coasters. Cheapskates can almost always find new life in old things because of their creativity. You know how to use your creativity to turn old things into savings.
You are a problem-solver.
Cheapskates are lifelong learners. You know where to find the info you need at the library. You know where to go to learn stuff for free or cheap. You check YouTube for solutions to things that need fixing. You’re not afraid to ask anyone for information or help with a task. You simply will not give up until you figure things out. You are always finding new ways to save money with your problem-solving skills.
You’re kinder to the environment.
You know how to make things last, recycle and upcycle. You know how to squeeze every last bit of value from products, whether it’s a tube of toothpaste or a pair of shoes. You’re good about remembering to turn off the lights and save water. You make your own cleaning supplies and beauty products. You grow your own food. You use less paper products. You buy less stuff. Your primary motive may be to save money, but you’re saving the planet with your greener ways, too.
You don’t worry about money.
It might seem like all you do is think about ways to save money when you’re a cheapskate, but that doesn’t mean it causes you any worry. You do the things you do to save money so that you can pay off debt and create that emergency fund. When the unexpected happens, you don’t fret because you know you’ve saved for that rainy day with all of your frugal habits. This financial freedom is why we do what we do, and it often results in us being more generous with our money and things. When we’re not worried about money, we can give more and help more.
It’s good to be a cheapskate when you know the right way to live a full life for less money. What are some of your favorite reasons for being a cheapskate?