Cheap or frugal? Either way penny pinching is ‘hot’ again

While many pensioners are pinching pennies just to get by, a new survey has shown that people think being frugal is an attractive quality.

It seems the days of whipping out cash on extravagant cars and televisions is a thing of the past, with the Slickdeals study confirming saving money is actually the preferred option.

In fact, choosing to save rather than spend could apparently boost your chances of finding a prospective life partner with a report on the New York Post revealing 92 per cent of the surveyed 2000 Americans believe frugality is attractive.

Going out for a fancy dinner? Well why not use a voucher to save costs because according to the survey 79 per cent of those polled would be happy to save the extra dollars.

Read more: The baby boomer’s guide to saving money on everything 

However, there is a fine line between being frugal and being cheap, because according to those polled no one wants someone who is too stingy and won’t pay their part of dinner or treat their loved one with an occasional gift.

While on the other hand, if you are of the frugal kind, according to the survey you shouldn’t boast about it, because one in four participants said bragging about money is a huge turn off on a first date.

Money-saving techniques are nothing new to those who grew up in the post-war era when every penny and scrap of food counted, but for many of today’s youngsters, the idea of tightening their belts to make ends meet can come as a surprise. 

The question is, do people actually want to save and be careful with their money or is it just another trend that will come and go?

Slickdeals Chief Executive Officer Josh Meyers seems to think being frugal is becoming a way of life for young people who are learning the harsh realities of adult life and looking for better ways to manage their funds.

“The increased propensity toward frugality brings to light the importance of value for today’s shoppers,” he said.

“Making smart purchase decisions and looking for deals for coupons is becoming mainstream – it’s what savvy consumers do because they are financially wise.”

However, it’s still taking youngsters a little while to understand that splashing out on expensive items they can’t afford isn’t the best idea, with 30 deemed the average age people start taking their finances more seriously.

Read more: Saving money didn’t come naturally to me, I learnt from my parents

According to Meyers being frugal is smart and finding a partner who follows the same beliefs is ideal.

“When it comes to relationships and dating, it’s great to see that expressing smart consumerism is no longer considered taboo,” he said.

What do you think? Are you attracted to frugality? Do you consider yourself frugal?