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Originally Posted by Ima saver
I can honestly say I have never met anyone frugal! I have one friend who is really really cheap! He has lots of money but finds the cheapest possible way to live. He and his wife have lived in the dumpiest little house for at least 40 years! Their two sons are as poor as church mice. I hate to see what those two kids will do when they get their hands on all that money!!!
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This illustrates a good point. There is a big difference between being frugal, and being cheap. I can't save a lot right now due to many of my fixed costs, but I think before I make most purchases, and I am saving for certain big items, rather than spending now and figuring out where the money is coming from later. I think people who are frugal rather than cheap realize there is more to life than money, and also would rather enjoy life than worry over money.
Several people mentioned the younger generations. I am 28, and I know many people who spend freely, but I also know many who spend wisely, and save. I know a couple who are both grad students, full time, but managed to buy a house, are raising a special needs child, and still save and donate. They have no debt other than their mortgage (not sure about student loans but probably minimal if any). We're rare, but not in danger or extinction.