1. A slang/street reference to a trick/date/ho/significant other, that does not require large sums of cash or continuous finanical expenditures to retain their interest. This individual is low maintenance fiscally speaking.
2. A slang/street reference to a ho that is of a lower caliber - whether that be in looks, attire, number of stds, or overall performance - thus making her cheap. This term can also be used for females who are more promiscuous than expected.
"I would never mess around with that skank again, she's a cheap ho fo' sho.