Being stingy V.S being frugal

This blog entry is inspired by some of the comments on the Facebook post that made Richmond “famous”. There was a small debate going on about the difference between being stingy and being frugal, and I would like to supplement my point of view to the two concepts.

Let me tell you more about Richmond and his character. I didn’t think there was a full introduction about him in the previous post, because it only mentioned his frugal habits.

As a colleague, Richmond is a very nice person. I enjoyed working with him and he has provided me a lot of guidance through my work. His performance at work compared to his peers is above average. You can see him working overtime in the office occasionally to meet datelines.

He has treated me to Milo from his super big container before many times. In fact, he places it somewhere that is accessible to others so that people can take it whenever they want to. Every time when he comes back from an overseas holiday trip, he brings some food back to share with everyone.

There was once I asked him to get me something to eat from the canteen. When he came back, I asked him how much was it.

He slightly waved his hand at me and said, “No need lah, aiyoh.”

I have also talked to him about personal issues before, and he is someone whom I can trust in the company. He rarely gossips about others, and keeps his thoughts mostly to himself unless you probe him for his opinions.

There was one time he has shared with me before that one of his relatives had financial problems and did not have enough money to clear her debts. Feeling helpless, she approached Richmond and he decided to reach out to help her.

With a slightly disappointed look, he said to me, “If relatives or friends want to borrow money from you, don’t expect them to return the money. Very seldom will happen one. Once lent, just close eyes and don’t think about it already.”

I nodded in agreement to his comment, and continued to ask how much did he lend in total.

The answer amounted to 5-figure sum.

He may be frugal, but he is definitely not giam siap.

Now, many of you might have been in the same situation as him before. I myself am definitely not spared. However, it is how he dealt with the situation that made me respect him even more. He did not utter a single word of complaint, and took it in his stride.

The value of money is perceived by everyone differently, and to some people, it may come to a point where it gets conflicted with their own morals and beliefs. We might even be emotionally attached to the situation, not knowing what would be the best course of action. Maybe when faced with such dilemma, we can choose to reflect upon the real purpose of why we want to pursue financial freedom in our lives again, and how will our final decision impact that.

Thanks for reading!

Miss Niao xoxo

Author: Miss Niao

Hello! I blog about financial matters and things that average people can do to have a better retirement. I want to inspire people to take control of their money and have a better understanding about it. If you are interested to know more, follow me @! :)

7 thoughts on “Being stingy V.S being frugal”

  1. Hi Miss Niao,

    Another interesting read!

    I find Kyith’s remark “If you have a stalker female colleague as such watching you, you should be very afraid…..” very amusing.

    I thought it’s common knowledge that members of both sexes analyze one another. Why else would gentlemen and ladies be evaluated using the Price-to-Earnings and Price-to-Book ratios, respectively? 😉

    And Wow at your blog posting rate! One post per day


    Liked by 1 person

      1. I’m an income investor. I emphasize more on the sustainability/growth of free cash flows though. If undervalued, lagi better 😛

        Red flags are an inordinate amount of cash flow from financing. High cash flow from investing warrant a deeper look at their footnotes.

        You leh? 😛

        Liked by 1 person

      2. Me? I know nothing about stocks, how to comment :p
        I supposed you should be looking more towards dividend yields over the long term then? 🙂 I wonder how the odds of finding a company with good dividends and be undervalued at the same time are.


  2. Thank you for this post! Really makes me feel like i know Richmond personally now though i actually don’t, haha. Keep up the good work!! I really enjoy reading your posts 🙂


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