My progress of Ramit Sethi's Earn1k Course
Ramit talks in great detail about the difference between frugal and cheap people in his I Will Teach You to be Rich book, which I highly recommend getting. It provided good reasons why there is a difference and how to spot the two. He basically says cheap people want things to be free or close to it as possible. Frugal people see the value in something and use that to base how much they are willing to pay for it. I found myself to be one of these frugal people as I spend my hard money on the best items that I want and spend little on things that I don’t care for too much. Sethi criticizes cheap people and doesn’t like them, but he feels admiration for those who are frugal. He even calls himself a frugal person in his IWTYBR book:
Spend extravagantly on the things I love and be relentlessy frugal about the things I don’t (e.g., spend lots on visiting family in New York, but don’t buy the flashiest sports car).
It looks like he loves being frugal, yet in Earn1k on pg 36 of Module 1 Lesson 4 he attacks frugal people. What this means is he openly admits he is one thing and encourages others to be that way, yet in his next product completely bashes those type of people. If you listen to that section of Earn1k he says“I’m not frugal and I don’t market to them.” I’m at a loss, he’s got me on this one. This also made me think that this course wasn’t for me.