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From: Webster's Revised Unabridged Dictionary (1913)

 Fru·gal·i·ty n.; pl. Frugalities
 1. The quality of being frugal; prudent economy; that careful management of anything valuable which expends nothing unnecessarily, and applies what is used to a profitable purpose; thrift; --- opposed to extravagance.
 Frugality is founded on the principle that all riches have
 limits.   --Burke.
 2. A sparing use; sparingness; as, frugality of praise.
 Syn: -- Economy; parsimony. See Economy.