Frugal

Etymology

From Latin "frugalis" (economical, worthy), from "frugi" (useful, temperate), the dative of "frux" (fruit, produce). To be frugal was originally to be "fit for produce" — thrifty in a way that yields — so the word praises productive restraint, not mere tightfistedness.

adjective · /FROO-gul/
Sparing and careful in the use of money or resources.
What it names
Thrift as a settled trait, and approvingly so — a compliment where "cheap" is an insult.
Example
They lived frugally not out of poverty but by choice, banking the difference for a decade of travel later.
Related idea
Frugal spending is careful and value-conscious, still buying what is worth buying; being cheap withholds even when spending would serve better — frugality weighs value, cheapness fixates on price.