frugality vs parsimony

frugality and parsimony both are nouns.

Word	Noun	Adjective	Verb	Adverb
frugality	Yes	No	No	No
parsimony	Yes	No	No	No

As nouns, parsimony is a hyponym of frugality; that is, parsimony is a word with a more specific, narrower meaning than frugality:

frugality: prudence in avoiding waste
parsimony: extreme care in spending money; reluctance to spend money unnecessarily

Other hyponyms of frugality include parsimoniousness, penny-pinching, thrift, economy, thriftiness.

frugality (noun)	parsimony (noun)
prudence in avoiding waste	extreme care in spending money; reluctance to spend money unnecessarily
	extreme stinginess