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"parsimonious person," 1900, from tight in the sense of "close-fisted" (1805) + wad (n.). The notions of stringency and avarice also combine in Modern Greek sphiktos "greedy," literally "tight."
: Don't be so tightwad with that hootch
A parsimonious person; a stingy person; a miser: the ''tightwads'' who have saved money (1900+)
[fr the forbidding tightness of his wad of money]