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1.
to be frugal and fabulous at the same time. Someone who looks for a deal instead of just spending recklessly.
Buying designer shoes at a resale store for 1/3 the price instead of paying full price at a retail store and looking fabulous in them is frugalicious.
by Ms. Southern Belle May 15, 2008
 
2.
a delicious and frugally prepared treat or meal
Lunch was frugalicious, as usual. I love the tasty bits that leave enough room to want more and more and keep me coming back.
by mominska August 02, 2010