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.