For everyone out there who pinches pennies, keep it up.
Besides frugality being a good way to make saving for emergencies and retirement easier, 90 percent of people view it as an appealing trait in a romantic partner, according to a new survey by SlickDeals.net, a crowdsourced shopping platform.
The survey canvassed 2,000 people about their views on frugality, including the role it plays in relationships.
About 53 percent of respondents are hesitant to get into a relationship with someone who is debt-burdened. And 60 percent have had a previous partner who was reckless with money, which made them seek out a more financially responsible partner.
For many Americans, frugality is a necessity.
Credit card debt has topped $1 trillion and student loan debt now stands at $1.5 trillion, both record levels. On top of that, inflation has generally outpaced wage growth. These dynamics make finding ways to minimize spending and reduce expenses the key to financial health for many households.
Nevertheless, it might be possible to take frugality too far and instead be viewed as cheap, based on the survey. Here's how respondents weighed in on various habits by people who aim to save money.
Is it frugal?
| Habit | % who say it's frugal |
|---|---|
| Seeking out deals or coupons for all purchases | 72% |
| Regularly tracking electricity use | 70% |
| Buy clothes at department stores like Kmart, Walmart etc | 67% |
| Buying off-brand food products | 65% |
| Shopping at second-hand clothing stores | 63% |
| Regularly tracking the home thermostat | 62% |
| Watching movies at home instead of in the theatre | 61% |
| Only having alcohol at home | 51% |
| Buying no-name electronics | 51% |
Source: Source: Slickdeals survey
Is it cheap?
| Habit | % who say it's cheap |
|---|---|
| Not leaving a tip at all (regardless of service) | 75% |
| Reusing tea bags or coffee filters | 60% |
| Calculating your part of a group bill to the cent | 52% |
| Lengthening longevity of soap by diluting soap bottles with water | 49% |
| Re-gifting | 44% |
| Always tipping 15%, even if the service is outstanding | 41% |
| Eating food a few days past its expiration date | 35% |
| Declining to be a part of rounds at the bar | 35% |
Source: Source: Slickdeals survey