To economize means to reduce expenses or the amount of resources used; to manage resources carefully and avoid waste. This often involves finding ways to operate more efficiently, cutting back on unnecessary spending, or finding alternative methods to achieve the same results at a lower cost. The primary goal is to conserve finances, time, or other valuable commodities. Effective economizing requires careful planning, mindful choices, and a willingness to adapt and compromise where necessary. This principle is applicable in various contexts, ranging from personal finances and household management to business operations and governmental policies.
Economizes meaning with examples
- After realizing their grocery bill was too high, the family decided to economize by planning their meals in advance, buying in bulk when possible, and utilizing coupons. This resulted in significant savings, allowing them to allocate those funds to other family needs, and to save.
- The company aimed to economize on energy consumption by switching to LED lighting and implementing a more efficient HVAC system. This not only reduced their operating costs but also decreased their environmental footprint. The business saw immediate financial benefit.
- Faced with a budget shortfall, the government was forced to economize by reducing spending on several public services, including infrastructure projects and social programs. This led to public debate about priorities and the long-term impact of those cuts.
- During the construction project, the project manager was tasked with the goal to economize the project budget by sourcing construction materials from multiple suppliers, and by negotiating the best prices. This was to prevent overspending and to adhere to the financial parameters of the contract.
Economizes Crossword Answers
5 Letters
SAVES
6 Letters
SKIMPS
7 Letters
SCRIMPS