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frugality (noun) economy.
When you practice frugality, you are very careful in spending money. Your frugality is seen in your buying only what is absolutely necessary. You do without any luxury if you have frugality. You practice frugality if you lead a very simple life making do with bare necessities. Frugality in meals is simplicity in food.
- Their father taught them frugality even when they were children. That has made them grow into people who spend money with the utmost care though they are prosperous.
- The frugality of the father is in contrast with the extravagance of the son, who, many fear, might ruin the wealth his father has saved for him.