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

n extreme stinginess

closeness, meanness, minginess, niggardliness, niggardness, parsimoniousness, tightfistedness, tightness
littleness, pettiness, smallness
lack of generosity in trifling matters
total lack of generosity with money
Type of:
a lack of generosity; a general unwillingness to part with money

n extreme care in spending money; reluctance to spend money unnecessarily

parsimoniousness, penny-pinching, thrift
Type of:
frugality, frugalness
prudence in avoiding waste

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