(n.) The act or practice of using to the best effect.

Scotch canny careful chary cheap chinchy chintzy close closefisted conserving cooling cooling down cooling off curtailment cutback economic economization economizing economy economy of assumption economy of means elegance exiguous forehanded frugal frugal to excess frugality grudging illiberal infrequent labor-saving law of parsimony low growth rate meager mean miserly money-saving overfrugal parsimonious parsimoniousness parsimony penny-pinching penny-wise penny-wise and pound-foolish penurious piddling pinching poor provident prudent prudential rare reduction of expenses reduction of spending retrenchment saving scamping scant scanty scarce scattered scraping scrimping scrimpy seldom met with seldom seen shabby skimping skimpy slim slowdown spare sparing sparse spotty sprinkled stingy stinting thin thrifty tight tightfisted time-saving too frugal unwasteful