A tight or miserly person who wouldn't want to part with there money.. can also refer to a quite and reserved person or in other slang terms, a 'dry' person
Said in response to someone saying thanks. Comes from a Joke where David Hasslehoff asks a Clerk to change his name to the Hoff... when the Clerk said Sure, No Hassle. Now instead of saying "No Hassle" people just say Hoff.
