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CHEAPISM: Cheap-i-sm, Spelled Pronunciation [chē-piz-uh-m]
-noun. An economic system in which individuals (consumers) acquire goods and/or services at a relatively low cost or price (inexpensively or comparatively inexpensively).
Those who advocate and support cheapism are "cheapists". As a result of practicing cheapism regularly, cheapists manage to save money and live within their means, or to utilize their finances for other purposes.