n. a miserly person; a very cheap person. (See also piker.) : A 5 percent tip! What a cheapskate!
Dictionary of American Slang and Colloquial Expressions by Richard A. Spears.Fourth Edition. Copyright 2007. Published by McGraw Hill.
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Word Origin & History
cheapskate
"miserly person," 1896, from cheap (q.v.), second element perhaps from Amer.Eng. slang skate "worn-out horse" (1894), of uncertain origin.