I like being cheap because I like being independant. It took me a long time to get on my feet when I got out of school. For a long time I had nothing but bills. Then slowly but surely things got better. I started to accumulate stuff. Suddenly I was rich. I didn't need to buy anything. The best thing was paying all my bills and having money left over at the end of th month. I am very lazy, so I liked saving money for work vacations. I often took the summer off. I probably could have found work, but I didn't want to. I would rather stay home and read or go to the museum. I believe in working to live, not living to work. I'd like to stop working when I had enough money. But to acheive independance, one has to live modestly foregoing some of the geegaws that most people have. I don't have an iphone, ipad, or even an ipod. Though I might get the ipod soon just to cut down on the clutter of CD'S. The point is that being careful with spending buys freedom, escape from capitalism and wage slavery. I could do other things instead of going to work.
This lifestyle is not for everyone and I recommend working until there is enough money from income property to stop working. Do what you love and the money will come is just not sensible. But save enough money to do what you love is another story. At this point in my life I am confident I have enough. Plus I have developed the skills I need to get by on less. Some people might look at my life, see the care I take with money and think, that's sad. But I like being cheap and getting everything for less. For me saving money is entertainment, it's fun. But it's not for everyone.