The verb skimp refers to using a limited amount of something. When tomato prices are high, a cost-conscious restaurant might skimp on the amount of chopped tomatoes it puts on salads.
Skimp can also describe getting by spending very little money, like someone who skimps in order to save for the future. You can also skimp on time and effort, like when you skimp on the amount of care you put into your math homework. Skimp is likely a variation of scrimp, which means "to make too small" and comes from the Swedish word skrumpna, meaning "to shrink, shrivel up."