I am frugal to an extent - I am not about to buy something cheap that will breakdown on me quickly and I have to replace it again, anyway. I prefer to spend just a little more for something that will last.
Manny, how do we define frugal? Buying the cheapest available, which as you point out is false economy? Or do we define frugal as spending our money wisely, like using coupons, buying in bulk, shopping only for sale items, etc? Websters defines frugal as thrifty, sparing, saving, not lavish....
My vote goes to spending wisely. An example: I have a huge hand and power tool collection, but lacked an item commonly termed as a oscillating tool, and the premium brands like Rockwell and Craftsman cost about $90 and up. I am a retired carpenter and will only use such an item once in a while. But no way will I spend a lot of money for something rarely used. Menards had one in their brand for sale last week, it is fairly good quality and the sale price was $40 vs $80 regular, plus a $20 in-store rebate check. I could have purchased more costly and or more inexpensive than I did, but I balanced needs, price, and use to get what I think is a good buy. My actual price will be about $22 with tax and mail in postage.
To me, spending wisely is what frugal means.
