Well that depends. If you are frivolous than you are "Given to trifling; marked with unbecoming levity; silly; interested especially in trifling matters. " as defined by merriam webster. So in that aspect, yes. However, some people say ti to mean someone who spends a lot of money. However this is incorrect. The word that they would be looking for is frugal. But being called frivolous would normally be an insult.
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