Definition of "niggarding"

Thou that art now the world’s fresh ornamentAnd only herald to the gaudy spring,Within thine own bud buriest thy contentAnd, tender churl, mak’st waste in niggarding.

1609, William Shakespeare, “Sonnet 1”, in Shake-speares Sonnets. […], London: By G[eorge] Eld for T[homas] T[horpe] and are to be sold by William Aspley