Being called overly frugal or cheap might actually mean you’re doing something right with your money. A producer from a podcast I was interviewed on commented on my frugality when I discussed using a simple headset instead of a high-end microphone for future recordings. This surprised me because lately, I’ve been trying to shake off my penny-pinching habits, especially now that I’m focusing more on enjoying life.
I’ve always been careful with money, and at 45, I’m finally learning to splurge on things that matter, like quality food and my children’s education. Yet, during a podcast, a technical hiccup led me to use earbuds instead of a professional mic, which wasn’t ideal. I didn’t think this made me cheap, just unprepared for the specific technical needs of that podcast.
The incident made me reflect on the image I project. I believe in “Stealth Wealth,” which means not flaunting what you have. It’s about being wealthy without showing off, to avoid unnecessary attention and judgment. But if being seen as too frugal contradicts how wealthy you actually are, it could mean you’re not balancing your public persona with your actual lifestyle very well.
This made me realize that maybe I do show off my wealth too much, or perhaps I’m not as transparent as I should be when it comes to finances. Being called frugal or cheap has its upsides, though. It can be a defense against those who might think you’re too lavish at other times. Like when I chose to discuss my vehicle as just a “Tata Motors SUV” to avoid mentioning it was a Range Rover, which can come across as flashy.
In reality, most comments I get about being frugal are pretty positive. This shows that people often mix up being economical with being stingy, which are not the same. Economical means you manage your finances wisely, not that you deny yourself or others.
Every time you spend money, someone will have an opinion on it. If you spend a lot, they might call you wasteful. If you don’t spend much, they’ll say you’re stingy. It seems best to keep your financial decisions private to avoid such judgments.
At the end of the day, all we really want is to be accepted for who we are. Living in a diverse city like San Francisco, I’ve always felt welcomed, even more so when I upgraded from a Honda Fit to a Range Rover. It’s not about the car, but how it reflects the financial security I’ve worked hard to build.
So, if being frugal means I’m financially secure, then being called “cheap” is a compliment. It means I’m doing enough right to save, invest wisely, and spend on what truly matters to me. And to anyone facing criticism for being frugal: consider it a sign that you’re on the right track, and maybe use it as a cue to ensure your spending aligns with your values and lifestyle.
