See also tight-ass
The Australian usage of this term differs somewhat from the American. A tightarse is a person who is stingy, miserly, cheap, mean, penny-pinching etc. However the term is also increasingly frequently used in the American sense.
Tightarse Tuesday is a custom observed by many cinema companies whereby on that day each week tickets are significantly reduced in cost (at the Nova however it is on Mondays). Many pubs, such as the Tote, also have Tightarse Tuesdays (or Thursdays) where happy hour lasts all night long. Often the beer is diluted or a different (inferior) brand to that advertised, so beware. Incredibly, most people can't tell the difference.
Also a phrase used in much of the UK (Thanks Wertperch).