What is another word for parsimony?

154 synonyms found


[ pˈɑːsɪmənɪ], [ pˈɑːsɪmənɪ], [ p_ˈɑː_s_ɪ_m_ə_n_ɪ]

Parsimony, also known as frugality, tightness, or thriftiness, is the quality of being economical or sparing in one's use of resources. Other synonyms for parsimony include stinginess, miserliness, or penny-pinching, which all imply unwillingness to spend money or give out resources. Other words that can be used to describe parsimony include austerity, prudence, or caution, which suggest a more measured approach to resource conservation. Ultimately, the use of parsimony can be an admirable trait, allowing individuals to save money and conserve resources for the future. However, excessive parsimony can also be seen as a negative quality, leading to social isolation and missed opportunities for growth and development.

Synonyms for Parsimony:

How to use "Parsimony" in context?

When seeking to economize, individuals and organizations often turn to the principle of parsimony. Parsimony generally refers to the practice of reducing the number of decisions that need to be made, or the amount of information that needs to be collected. To apply this principle in financial planning, for example, individuals might seek to minimize the amount of different investment options they need to consider, or the number of accounts they need to keep track of.

The principle of parsimony is often difficult to implement in practice, however, because it often requires trimming back on features or options that may be seen as valuable or important by the individual or organization.

Paraphrases for Parsimony:

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    • Noun, singular or mass

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