Thrifty vs. Stingy

Took a subscription from a guy today who paid with an AMEX in a somewhat apologetic manner, explaining that he had it for his business. When I said, "I've thought about switching our corporate cards to AMEX, but I just can't bring myself to pay an annual fee when other credit cards are free," he replied, "Yeah, I've heard you're kinda stingy."

Sure, I watch our pennies, but I rarely tip less than 20%, I often overpay service people I know are struggling, I give more than I receive, and I don't mind paying for quality... nevermind the amount of shared personal finances I happily allow my car-crazed husband to devote to the hobby. So I'd argue that I'm not stingy, but thrifty. Isn't that the definition of grassroots? Sorry, but I just hate that word.

Margie

I wouldn't call that "stingy." "Thrifty" is a much better term. I think he was "Dumb Ass."

Dr. Hess wrote: I wouldn't call that "stingy." "Thrifty" is a much better term. I think he was "Dumb Ass."

QFT. It's not "stingy" to avoid spending extra money unless there is a cost-effective benefit to it. That's thrift.

"Stingy" is when you live with something terrible that you could easily afford to change, but just won't.

I think you need to name him so we can all pound on him

No, he's actually a nice guy, and I don't think he meant anything by it. I just think a lot of people attach a negative connotation to thrift, so the two words are interchangeable in their minds. Do you guys run into this as well?

Margie

Marjorie Suddard wrote: I just think a lot of people attach a negative connotation to thrift, so the two words are interchangeable in their minds. Margie

So, "Dumb Ass" then.

Maybe he was afraid of becoming part of the patio, he heard you were sting-y.

I get called cheap a lot. Not sure it's true.

To me stingy is not being giving or generous. If you had an abundance of wealth but didn't give to others then you'd be stingy.

Thrifty is not spending unnecessarily.

Cheap is not costing much. Meaning if you are cheap, then it doesn't cost much for you to live. IE you don't have frivolous expenses.

My family calls me cheap all the time for buying my working clothes (which usually get dirty and greasy very quickly) from goodwill and using a prepaid phone service which is have the price of their plans with more data.

But I also don't make 6 figures, so I must be doing something wrong.

My father-in-law thinks I'm stingy. He makes a decent salary, and to him, you either want something or you don't. He thinks I put too much effort into making the right purchase and doesn't understand why I would buy a piece of junk that serves the purpose for pennies on the dollar just to fix over buying a nice piece of expensive equipment. If he's going to buy something (like food) he wants it to be quality.

What's funny is that this is the same guy that doesn't have a single battery operated power tool.

Marjorie Suddard wrote: When I said, "I've thought about switching our corporate cards to AMEX, but I just can't bring myself to pay an annual fee when other credit cards are free," he replied, "Yeah, I've heard you're kinda stingy."

Hah!

forget the stingy line.... isnt in unnerving to hear about yourself from a stranger in the 3rd person?

why appologize for using an AMEX? Is the money not green?

Thifty is not spending money you don't have to.

Stingy is not spending money you should.

I've got a friend who is stingy. Everything gets done for the absolute minimum cost, even if that means taking shortcuts. Probably costs him considerably more in the long run, and he's always complaining about how much stuff costs.

PHeller wrote: My father-in-law thinks I'm stingy. He makes a decent salary, and to him, you either want something or you don't. He thinks I put too much effort into making the right purchase and doesn't understand why I would buy a piece of junk that serves the purpose for pennies on the dollar just to fix over buying a nice piece of expensive equipment. If he's going to buy something (like food) he wants it to be quality. What's funny is that this is the same guy that doesn't have a single battery operated power tool.

Makes a lot of sense, really. Battery operated power tools are inferior and more expensive than 120V ones, they just don't have a cord. So if he buys tools, I'm guessing he buys quality.

Fueled by Caffeine wrote: why appologize for using an AMEX? Is the money not green?

Amex is famous among merchants for charging the highest discount fee. They are about .9% higher than Visa and MC to me. In their defense, they don't ever hit me for "non-compliant card" fees, which are any card with a loyalty program , airmiles, or corporate issue. All wind up being pretty close to the same, once the math is done.

I wish everybody paid with debit. That's 12c per transaction.

I'd forgive the stingy comment. He probably meant it as a compliment.

madmallard wrote: Hah! forget the stingy line.... isnt in unnerving to hear about yourself from a stranger in the 3rd person?

Yeah, that's always weird.

Margie

PHeller wrote: What's funny is that this is the same guy that doesn't have a single battery operated power tool.

The problem with battery-powered tools is that unless you use it all the time, whenever you get it out the battery is dead. :)

You remind me of a guy who's cars I used to service. He paid to keep a 15 year old Baretta on the road because it was cheaper than buying a new one. He drove 65 in the right lane because he got 10-15% better fuel economy. But, when I worked on his car, he only bought new parts, not re-built. He ALWAYS over-paid me because he knew I was charging him way less than anyone else would. When he did go out to eat, he'd tip well as long as service wasn't crappy. He was called "cheap" all the time. I'd correct people and tell them he was thrifty. And because of that thrift, would retire 5 years earlier than anyone else, and live well when he did.

I get called cheap a lot, but never stingy.

Most of the time it's: Why do you drive those crappy cars? Why don't you sell all of them and buy one good one.

or similar.

I usually toss comments like that in the "meh" bin.

codrus wrote:

PHeller wrote: What's funny is that this is the same guy that doesn't have a single battery operated power tool.

The problem with battery-powered tools is that unless you use it all the time, whenever you get it out the battery is dead. :)

Disagree. My LiIon Craftsman drill will hold a charge for months.

Prudent people are thrifty, stingy is what resentful broke people call prudent people.

Streetwiseguy wrote:

Fueled by Caffeine wrote: why appologize for using an AMEX? Is the money not green?

Amex is famous among merchants for charging the highest discount fee. They are about .9% higher than Visa and MC to me. In their defense, they don't ever hit me for "non-compliant card" fees, which are any card with a loyalty program , airmiles, or corporate issue. All wind up being pretty close to the same, once the math is done. I wish everybody paid with debit. That's 12c per transaction. I'd forgive the stingy comment. He probably meant it as a compliment.

I still can't figure out why anyone would use a debit card when CC work in all the same places .. your account isn't dinged immediately, there isn't a hold put on your account, the CC company pays me money to use their card, I don't forget that I've spent the money …etc…

I realize that you, as a business, would rather I use a debit, but until it's to my financial benefit … ain't gunna happen

^ This plus as I understand it, you’ve got more recourse in terms of contesting improper charges when you use a CC.

I want to help business owners but for everyone such as myself that religiously pays off their balance well before interest is owed, it’s highly advantageous to charge everything you possibly can.

Margie...

You have to remember, your reader base and all of us on the forum were those socially awkward types in highschool.

He most likely meant thrifty.

I'm sure you have to be thrifty to run a successful, independent magazine and be successful in the world of massive publishing companies and online media.

Thrifty is good.