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We are not saying this is a bad thing but the only problem with this one is since people who practice this tend to get used to living below their means that they no longer try to expand their means to better improve their lives. They just stick to living way below to whatever they currently have. Although there is no question of them becoming rich but the thing here is that they will really not be able to enjoy what they worked hard for.
You see the problem with being cheap to become rich is that in the end you are still cheap even if you already have a lot of money. Just take for instance of people who saved every penny in their entire lives and going for the best discounts and bargains to acquire the most money possible. Yes they are indeed rich because of the habit of being cheap but they are technically living poorly just like someone who is really poor. Are you getting this? In other words, although these individuals have lots of money they are not enjoying the fruits of their labor since they are living cheap just like the way a poor person with no money is living.
The main reason why we want to become rich is so that we will be able to have a lot of cash to spend so that we will be able to truly enjoy living life to its fullest. Being cheap defeats this purpose because you get rich by not enjoying what you truly deserve.