Miserly fellow pocketing note (5)
I believe the answer is:
cheap
'miserly' is the definition.
(thesaurus)
'fellow pocketing note' is the wordplay.
'fellow' becomes 'chap' ('chap' can be a synonym of 'fellow'**).
'pocketing' is an insertion indicator.
'note' becomes 'e' (musical note).
'chap' going around 'e' is 'CHEAP'.
(Other definitions for cheap that I've seen before include "Mean" , "Shoddy" , "Tawdry - inexpensive" , "Contemptible" , "A snip" .)