Pinching pennies, also known as being frugal, is a common practice of saving money by reducing spending and making wise financial decisions. The term 'pinched pennies' can be broken down into two crossword solutions: STINTED (7 letters) and SKIMPED (7 letters). STINTED means to limit or restrict something, while SKIMPED means to do something with less than the usual amount. Therefore, pinching pennies involves limiting spending and doing things with less than the usual amount in order to save money.