Meaning & Definition of word "Economize"
to
Economize
/ɪˈkɒnəmaɪz/
verb:
- 1. To make efficient use of resources; to reduce expenditure or waste.
- Example: In order to save money for vacation, we need to economize on our grocery budget.
- 2. To use resources sparingly or frugally.
- Example: The company decided to economize by reducing its energy consumption in the office.
- 3. To manage carefully or sparingly, particularly with regard to time or money.
- Example: He learned to economize his time by prioritizing important tasks.
- 4. To avoid waste and to try to save.
- Example: During the recession, many families found ways to economize by cutting unnecessary expenses.
Etymology
From Greek oikonomikos, from oikonomia, meaning household management.
Common Phrases and Expressions
economize on:
to reduce expenses in a specific area.
economize time:
to use time more efficiently.
Related Words
economy:
the system of production and distribution and consumption.
economical:
giving good value or service in relation to the amount of money, time, or effort spent.
Slang Meanings of economize
Meaning: tighten the belt
Example Sentence: With rising costs, we're going to have to tighten the belt this year.
Meaning: pinch pennies
Example Sentence: They are always pinching pennies to save for their vacation.