Part of the answer involves how your actions affect other people. Being cheap impacts others in some negative way. It might even be taking advantage of them. Being frugal only affects yourself. It's about maintaining relationships.
Cheapness focuses on price. Just because something has a low price does not necessarily mean it has value if it falls apart when you take it out of the box. Being frugal is getting value regardless of he price.
Frugal people look at the big picture. They have their long-terms priorities firmly established. Cheap people tend to live in the here and now.
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