Definition: parsimony

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Source: WordNet (r) 1.7 

parsimony
     n 1: extreme care in spending money; reluctance to spend money
          unnecessarily [syn: parsimoniousness, thrift, penny-pinching]
     2: extreme stinginess [syn: meanness, minginess, niggardliness,
         niggardness, parsimoniousness, tightness, tightfistedness,
         closeness]

Source: Webster's Revised Unabridged Dictionary (1913) 

Parsimony \Par"si*mo*ny\, n. [L. parsimonia, parcimonia; cf.
   parcere to spare, parsus sparing: cf. F. parcimonie.]
   Closeness or sparingness in the expenditure of money; --
   generally in a bad sense; excessive frugality; niggardliness.
   --Bacon.

         Awful parsimony presided generally at the table.
                                                  --Thackeray.

   Syn: Economy; frugality; illiberality; covetousness;
        closeness; stinginess. See Economy.