What causes a person to be cheap?

Cheap people are driven by saving money regardless of the cost; frugal people are driven by maximizing total value, including the value of their time. … Being cheap is about spending less; being frugal is about prioritizing your spending so that you can have more of the things you really care about.

What are the disadvantages of being cheap?

OTHER DRAWBACKS OF BEING CHEAP
  • It’s not great for the economy. …
  • Your taste buds may suffer. …
  • It makes the roads more dangerous. …
  • Car repairs can become more costly. …
  • It’s bad news for the environment. …
  • It can hurt your chances of getting hired. …
  • You may get the short end of the salary stick.