Penurious, a.
Etymology: [From Penury.]
1. Excessively sparing in the use of money; sordid; stingy; miserly. "A penurious niggard of his wealth." Milton.
2. Not bountiful or liberal; scanty. Here creeps along a poor, penurious stream. C. Pitt.
3. Destitute of money; suffering extreme want. [Obs.] "My penurious band." Shak.
Syn. -- Avaricious; covetous; parsimonious; miserly; niggardly; stingy. See Avaricious. --Pe*nu"ri*ous*ly, adv. -- Pe*nu"ri*ous*ness, n.
Shades of meaning
Fernald has no entry of its own for penurious; he lists it under avaricious.
Where he writes about it:
Avaricious and covetous refer especially to acquisition, miserly, niggardly, parsimonious, and penurious to expenditure. — from avaricious
Parsimonious and penurious may apply to one's outlay either for himself or for others; in the latter use, they are somewhat less harsh and reproachful terms than niggardly. — from avaricious