parsimony

/ˌpɑrsəˈmoʊni/

Other forms: parsimonies

Parsimony is a noun to use when you are watching your money very carefully. So you're not just saving your pennies for a rainy day — you're clipping coupons, re-using dryer sheets, and refusing to pay full price for anything.

It's not a bad thing to engage in a little parsimony. Related to an ancient Latin word meaning "to spare," parsimony keeps your checking account in the black and your retirement plan well funded. But get a little too parsimonious and you might start to look like Uncle Scrooge — an old miser who learned the hard way that practicing extreme parsimony doesn't win you love and admiration.

Definitions of parsimony

1. noun

   extreme stinginess
   synonyms: closeness, meanness, minginess, niggardliness, niggardness, parsimoniousness, tightfistedness, tightness

   types:

   littleness, pettiness, smallness

   lack of generosity in trifling matters

   miserliness

   total lack of generosity with money

   type of:

   stinginess

   a lack of generosity; a general unwillingness to part with money
2. noun

   extreme care in spending money; reluctance to spend money unnecessarily
   synonyms: parsimoniousness, penny-pinching, thrift

   type of:

   frugality, frugalness

   prudence in avoiding waste