Misers are branded as stingy by many. Stingy people have money which they do not want to spend for fear of losing all of it. Usually, this results from unwanted pains of previous financial difficulties. People who are plagued of such thinking deny themselves not only of the things they want but also need. Additionally, guilt is another thing which causes people to be misers.
There are some who feel guilty about having more than enough when their relatives and friends are suffering. In order to ease the guilt feeling, they simply do not touch their money.
The frugal, on the other hand, are known for their great money management skills. Unlike the miser, the frugal spend but they spend wisely. Also, they choose to make wise investments to earn more money which they can enjoy to save and spend at the same time. If you think that they do not have debts, you are very much right on that. This is because they are good in matching their finances with their goals and they do not compete against other people in terms of their possessions.