- Parsimony is defined as extreme frugality or the use of extreme caution in spending money.
When you analyze every purchase and are very careful about spending even small amounts of money, this is an example of parsimony.
parsimony definition by Webster's New World
Origin: Middle English parcimony ; from Classical Latin parcimonia ; from parcere, to spare: akin to (com)pescere, to enclose, limit
parsimony definition by American Heritage Dictionary
- Unusual or excessive frugality; extreme economy or stinginess.
- Adoption of the simplest assumption in the formulation of a theory or in the interpretation of data, especially in accordance with the rule of Ockham's razor.
Origin: Middle English parcimony, from Latin parsimōnia, from parsus, past participle of parcere, to spare.