a person who usually has money and now for unfortunate circumstances dose not have the spending power he once had. it is the opposite of nouveau riche.
you know you are NOUVEAU POOR when you downgrade your Hyundai Matrix to a Kia Piccanto.
You know you are NOUVEAU POOR when you start selling all your designer bags you once collected.
Kenzie: hey kim wana go out for dinner tonight?
Kim: no man i cant!! didnt you hear im NOUVEAU POOR!!!!
Kenzie: hey kim what you doing?
Kim: counting my pennies im so NOUVEAU POOR. (shed a tear)