Pronunciation: [am t͡ʃˈiːp] (IPA) 
The correct spelling of the phrase "am cheap" is /æm tʃiːp/. The first word, "am," is a contraction of "I am" and is pronounced /æm/. The second word, "cheap," is pronounced with a long "e" sound, written as "ee" in the phonetic transcription /tʃiːp/. This phrase indicates that the speaker is indicating that they are not expensive, but rather cheap. It is important to spell words correctly to avoid miscommunication and confusion.
"Am cheap" is a colloquial phrase that conveys the meaning of being frugal or stingy in one's spending habits or monetary affairs. The term often refers to an individual who is known for consistently seeking out and purchasing goods or services at a low cost or with great emphasis on affordability.
The word "am" in this context is a contraction of the verb "to be" in the first person singular form, indicating that the subject (usually the speaker) is embodying the quality of being cheap. "Cheap" characterizes a person who is unwilling to spend much money, often preferring less expensive alternatives, regardless of their financial situation.
Individuals who identify as "cheap" may carefully scrutinize prices, regularly compare options before making purchases, or opt for used or discounted items whenever possible. This behavior may stem from a desire to save money, minimize financial stress, or achieve long-term financial goals.
However, it is essential to note that the term "cheap" can have negative connotations, suggesting a lack of generosity or an inclination to prioritize financial gain over other considerations. While financial prudence and wise spending choices are commendable, being excessively cheap can sometimes result in a reluctance to spend money when necessary or an unwillingness to contribute to social or charitable causes.
