Very cheap, both in the sense of being inexpensive and in the sense of being shoddy.

Probably originally referred to a cheap prostitute (i.e. a cheap "piece of ass"); however, by now the expression has been almost completely sanitized.

Might also derive from the -ass suffix found in expressions such as "dumb-ass" and "slow-ass". These are not directly related to "half-assed".

Someone who is stingy and makes extraordinary efforts to save a buck. Cheap-asses are different from the poor or cash-strapped -- they usually can afford to spend the extra $1.47 per shopping trip by not clipping coupons and sending in rebates, but they refuse to "waste money". These people are bargain shoppers extraordinaire, spending more on gas to travel to different stores in search of deals than what they actually save by doing so.

Cheap-asses refuse to give in to the lure of convenience and never buy things on impulse. Cheap-asses can be annoying as hell.

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