2. Not only fun, but educational as well!
Frugality is for all IMHO [except those who don't have enough to save obviously, and there are many such cases].
At the end of the day, no matter which adjective one uses [cheap, frugal, penny-pinching, stingy, thrifty, etc.], it's all about knowing how to manage one's money.
I get what I like & want, but only because I can! However, for me, it's more about being an informed consumer [which was not always the case], and about not overpaying. No different from buying stocks.
I'm frugal with not only my money, but my time as well, ie: I don't like to waste either & want more of both to enjoy & do important/fun things with, like meeting a friend in person instead of on FB/MSN; donating my time & money to worthwhile causes/foundations, etc.