Although I am *MISTER* cheap, I’m actually quite hurt when someone I care about says something that implies I’m cheap. Amusingly, I actually don’t mind if they CALL me cheap. An insight about me that a friend once had was that I’m “generous to other people but not to myself”, which I think has a good deal of truth to it. I’m certainly not Mr. Stingy.
I agree with Ramit that frugal people focus on value, while cheap people focus on price. I *NEVER* expect anyone to foot the bill for me (and err on the side of giving more myself to be sure that this never happens).
Overall I think being frugal is one of the greatest virtues. It involves soul-searching and an understanding of yourself and your environment in an effort to ensure that your resources are distributed in line with your values.
Who could complain about that?