Is penny pinching a positive connotation?

Penny pinching generally carries a negative connotation, suggesting excessive frugality or stinginess. While being careful with money can be seen as responsible, the term often implies an unwillingness to spend even when it's necessary. It can also reflect a lack of generosity or an obsession with saving at the expense of enjoyment or quality of life. Overall, while frugality has its merits, "penny pinching" usually suggests a more extreme and less favorable attitude towards spending.