Main Entry: par·si·mo·ny

Pronunciation: \ˈpär-sə-ˌmō-nē\

Function: noun

Etymology: Middle English parcimony, from Latin parsimonia, from parsus, past participle of parcere to spare

Date: 15th century

1 a : the quality of being careful with money or resources : thrift b : the quality or state of being stingy
2 : economy in the use of means to an end; especially : economy of explanation in conformity with Occam's razor