What term refers to the quality of being careful to avoid waste?

The term "frugality" refers to the quality of being careful to avoid waste, particularly in terms of resources such as money, time, or materials. It embodies the idea of using resources thoughtfully and efficiently, often with the intention of maximizing value while minimizing unnecessary expenditures. Frugality is generally viewed positively, connoting a sense of prudence and wisdom in financial matters.

In contrast, "insipid" describes something that is dull or lacking flavor, which is unrelated to the concept of managing resources. "Miserly" refers to a person who is excessively reluctant to spend money, often implying a negative trait associated with hoarding rather than practicing prudent spending. "Penury" means extreme poverty or destitution, which implies a lack of resources rather than a careful management of them. Thus, "frugality" is the most accurate term for the quality of being careful to avoid waste.