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Analogous of usage of "no homo," this term is a phrase that follows anything that could be even vaguely construed as either stereotypically Jewish or cheap.

Note: should only be used by members of the Jewish persuasion (or their friends) ironically. Dentists and others may convert to Judaism to begin using the term with their gentile friends.
You like this sweater? I got a good deal, it was on sale -- no schlomo!

Hey remember I lent you 50 cents the other day? I'll be needing that back. No schlomo.
by Shul's out for Schlomo February 22, 2009
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