Thrifty is a person who values thrift. They do not spend money frivolously, but instead use the money for investment purposes or use it to satisfy their needs. Thrifty is also a person who appreciates good quality products. They are wary of low quality products. They are also a person who values thrift and values good quality products.
2. What is Thrifty
Thrifty does not mean that you have to be cheap. The notion of thrift has different connotations for different people.
3. Characteristics of Thrifty People
Thrifty people have many of the characteristics that make them successful. They are well managed, careful with their money, and are also frugal in their expenditures. They are often considered to be good at problem solving, they are not afraid of hard work and will go the extra mile to do what it takes to get things done. They value discipline and don’t like being rushed (this is especially true of those who are good at problem solving). Thrifty people are generally happy with where they are in life. As such, many prefer living in lower rent areas than high-end areas for the same reason that some want cheaper housing (although I should note that this is especially true for those who enjoy shorter commutes). Furthermore, thrifty people tend to be very loyal (e.g., loyal friends) since their minds work very differently from other types of thinkers: rather than switching tasks as soon as something goes wrong or as soon as a task becomes too difficult or time consuming, thrifty thinkers usually stick with what they believe works best even when it makes them unhappy or uncomfortable at times.
4. Why do we need to be Thrifty?
For many people, the words thrift and frugal mean the same thing — that is, not spending money you do not need to (for instance, in a department store). But what does it mean to be thrifty? The dictionary tells us that “frugal” means “economical with money or resources”. In other words, a frugal person spends money wisely. The word thrift is a bit more complex. It is also defined as “the quality of being economical with material goods, especially when used to save money; economy of expense”. From this definition alone we can see that it differs significantly from the meaning of thrift given above in two ways:- frugality means saving money for something else than today’s use—for instance, for retirement (which is incredibly common for people nowadays). Thrift implies savings for something that may not happen today (even though there are many people who are not saving much at all).- Thrifty also means saving money for something that might not happen at all: perhaps accumulating interest on your savings over time, or perhaps having enough emergency cash to go on holiday even if you didn’t have enough emergency cash before then. In contrast, a frugal person would not dream of actually spending such emergency cash if he or she had it available at hand—it would be better spent elsewhere.
It’s easy to be thrifty with money and spend it irresponsibly, but it can be hard to get thrifty with your time. In fact, we all have reasons to be thrifty with our time: it’s nice to have a little extra to spend on that new pair of boots or that new car or the latest TV or the latest laptop or whatever. You can’t wait until retirement to be able to do these things because you won’t have the money for anything else. Time is a finite resource; we never get around to everything we want, and even if we could, sometimes our time is better spent on something else anyway. The key is recognizing when you need discipline and when you don’t — sometimes it’s better to use your money for investing instead of just spending it on frivolous items.