Crossword Genius

Reluctant spender provides per inch after the tiniest bit of cash (5,7)

Ross

I believe the answer is:

penny pincher

I'm a little stuck... Click here to teach me more about this clue!

'reluctant spender' is the definition.
(someone trying to save money 'pinches pennies')

'per inch after the tiniest bit of cash' is the wordplay.
I cannot really see how this works, but
'inch' could be 'in' (abbreviation) and 'in' is found within the answer.
'cash' could be 'p' (abbreviation for pence) and 'p' is located in the answer.
This explanation may well be incorrect...

'provides' is the link.

Can you help me to learn more?

(Other definitions for penny pincher that I've seen before include "One not generous" , "miser" , "petty thief?" , "one that's close" , "Skinflint" .)

I've seen this clue in the Sydney Morning Herald.
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