thrift vs frugality

thrift and frugality both are nouns.

Word	Noun	Adjective	Verb	Adverb
thrift	Yes	No	No	No
frugality	Yes	No	No	No

As nouns, frugality is a hypernym of thrift; that is, frugality is a word with a broader meaning than thrift:

thrift: extreme care in spending money; reluctance to spend money unnecessarily
frugality: prudence in avoiding waste

Other hypernyms of thrift include frugalness.

thrift (noun)	frugality (noun)
extreme care in spending money; reluctance to spend money unnecessarily	prudence in avoiding waste
any of numerous sun-loving low-growing evergreens of the genus Armeria having round heads of pink or white flowers