Definition & Meaning of "penny pincher"in English

What is the origin of the idiom "penny pincher" and when to use it?

The idiom "penny pincher" originated from the practice of being extremely frugal or thrifty with money, particularly when it comes to small amounts or insignificant expenses. The term "penny" refers to the smallest unit of currency, emphasizing the meticulousness in saving even the tiniest sum. A "pincher" refers to someone who tightly grasps or holds onto something. Therefore, a "penny pincher" is used to describe a person who is excessively careful or reluctant to spend money, often going to great lengths to save every penny. This term can be used to characterize individuals who are excessively frugal or cautious regarding their financial decisions, often avoiding unnecessary expenditures or seeking the best deals and discounts.