penny pincher

Etymology
From pinchpenny

Noun

 * 1)  One who spends little money; one who is very frugal or cautious with money.
 * Over the years, he developed a reputation as a penny pincher who wouldn't spend money for anything.

Usage notes

 * This term has a mildly negative connotation.

Synonyms

 * See also Thesaurus:miser