I agree silver
To put it another way;
Thrifty may include those that have the cash or not - but choose carefully what they spend it on, including parting with the hard-earned pennies for something of higher quality if they can't better it themselves. Cheap is always looking for the least expensive no matter what - to the detriment of the project.
Thrifty entails far more work & research, while always keeping the long term in mind as "cost" is more than just the now - cheap is doing the least for the least with only the now in mind...
The messed up thing is "cheap" always
costs more in the long run o_O