Economize

To reduce expenses; to avoid waste and make efficient use of resources, especially money, time, or materials. It involves careful management and conservation to achieve the greatest possible return or benefit. This might include finding cheaper alternatives, cutting back on unnecessary spending, or streamlining processes to use resources more effectively. The goal of economizing is often to save money, but it can also apply to conserving other valuable commodities. It's about making wise choices and prioritizing needs over wants.

Economize meaning with examples

• Faced with rising energy bills, the family decided to economize by installing energy-efficient light bulbs and turning off appliances when not in use, leading to significant savings on their monthly costs. They also tried to buy items that were more energy-efficient, saving money and energy.
• The company needed to economize during the economic downturn, so they implemented a hiring freeze, reduced travel expenses, and negotiated better deals with suppliers to preserve cash flow and weather the financial storm, resulting in a sustainable model.
• To economize on paper consumption, the office switched to double-sided printing and encouraged employees to use digital documents whenever possible, minimizing waste and reducing their environmental impact alongside cost savings.
• The student was forced to economize to make her limited funds last throughout the semester by cooking at home instead of eating out and searching for affordable used textbooks, enabling her to manage her finances well.
• During the wartime rationing, citizens were required to economize food and other essential goods. This meant they had to carefully ration the essential items to get them to last, meaning less waste and better consumption.