Stinginess that makes party arty? (5-8)

I believe the answer is:

penny-pinching

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'stinginess' is the definition.
(I know that penny-pinching is a type of stinginess)

I don't understand the remainder of the clue.

Can you help me to learn more?

(Other definitions for penny-pinching that I've seen before include "Unwillingness to spend money" , "Excessively careful with money" , "Cheeseparing" , "Miserly" , "Tight" .)

I've seen this clue in The Times.

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