noun
austerity
aw-STER-uh-tee/ɔːˈsterəti/
Strict restraint in spending or enjoyment.
The room's austerity reflects the owner's preference for a simple life.

Etymology
The quality of harshness or severity came to mean strict self-discipline, then a life without luxuries. This severe simplicity also supplied the economic sense of limiting non-essential spending.
In context
The exuberance of Baroque architecture followed a period of austerity and architectural restraint, in response to the Protestant Reformation.
More examples
- The government introduced austerity measures to reduce borrowing.
- She found the austerities of monastic life difficult at first.
- Years of austerity left little money for public repairs.
Forms
austerity · austerities
austere adjective — Severely plain, restrained, or lacking indulgence.
Similar words
- frugality
- Emphasizes avoiding waste rather than severe deprivation or public policy.
- privation
- Emphasizes lacking necessities rather than choosing restraint.