Austerity means living with strict economy and self-discipline, cutting back on spending and avoiding anything extra or luxurious. When a family practices austerity, they might skip restaurants, postpone vacations, and buy only necessities until their finances improve. A student living with austerity might pack simple lunches, wear hand-me-down clothes, and find free entertainment instead of spending money on movies or games.

The word suggests deliberate, sometimes severe restriction that goes beyond ordinary frugality. Austerity involves conscious sacrifice and discipline. A monk's austere lifestyle might include plain food, simple clothing, and a bare room with just a bed and a desk. During World War II, many countries imposed austerity measures, rationing food and fuel so resources could support the war effort.

Governments also practice austerity by cutting spending on programs and services, usually during economic trouble. When a city faces austerity, it might close libraries early, reduce bus routes, or freeze the hiring of new workers.

The related word austere describes something plain, unadorned, and strictly simple. An austere room has white walls and minimal furniture. An austere personality seems serious and stern, without much warmth or humor.