Are You More Frugal Now Too?
There’s no doubt money has been tight for a lot of folks during the coronavirus lockdown, but it seems at least one good thing came of that.
A new poll finds:
- Over half of Americans say the lockdown finally taught them how to be smart with their money.
- Just two years ago, only 42% of people claimed to be smart with their money, but now 51% of folks say they are.
- In fact, two out of three people say the quarantine has turned them into a frugal person.
- The average person believes someone becomes frugal at 31, although 25% say it happened to them earlier.
- And there’s nothing wrong with being frugal, with 67% of people considering it a compliment.
But there certainly is a difference between being frugal and being cheap, and the study set out to discover just what that is.
- For example, during a 2018 survey, tipping the minimum of 15% to 20% was considered “frugal,” but now it’s considered “cheap.”
- Other things folks these days consider cheap include:
- Calculating your part of a group bill to the cent
- Keeping outdated or worn out electronics, as long as they still barely work
- Reusing tea bags or coffee filters
- Eating food a few days past its expiration date
- Declining to be a part of rounds at the bar
- Lengthening longevity of soap by diluting soap bottles with water
- Actions that are considered frugal include:
- Regularly tracking electricity use
- Regularly tracking the home thermostat
- Watching movies at home instead of in the theater
- Shopping at second-hand clothing stores
- Buying clothes at department stores like Kmart, Walmart etc
- Buying off-brand food products
- Giving up drinking while at bars or restaurants/Only having alcohol at home
- Seeking out deals or coupons for all purchases