economizing
/ɪˈkɒn.ə.maɪz.ɪŋ/
VERB
1. Practicing economy and avoiding waste
Using money, materials, energy, or other resources carefully and in moderation to avoid unnecessary consumption, waste, or extravagance.
1.1. Spending money carefully
Managing personal or organizational finances prudently by limiting unnecessary expenses, reducing spending, and avoiding extravagant purchases.
Synonyms
- being frugal
- being thrifty
- scrimping
- pinching pennies
- penny-pinching
- cutting back
- retrenching
Antonyms
- splurging
- squandering
- spending lavishly
- blowing money
- misspending
- spending extravagantly
Examples
- Economizing on groceries is one way to stretch your budget effectively.
- The family is economizing by reducing unnecessary household expenses.
- The company is economizing to maintain its financial stability.
Related Words
1.2. Conserving resources and supplies
Making limited resources, materials, energy, or supplies last longer by using them sparingly and preventing unnecessary waste.
Synonyms
- conserving
- husbanding
- preserving
- sparing
- scrimping
- skimping
- using sparingly
Antonyms
- wasting
- squandering
- dissipating
- throwing away
- using excessively
Examples
- Economizing on energy usage reduces costs and benefits the environment.
- The organization is economizing resources to ensure long-term sustainability.
- The expedition began economizing on food and water supplies.
Related Words
- conservation
- resourcefulness
- stewardship
- preservation
- sustainability
- efficiency
1.3. Reducing expenditure and operating costs
Cutting organizational, business, or government expenses by reducing unnecessary spending and making more efficient use of available funds.
Synonyms
- cutting back
- cutting down
- retrenching
- reducing expenditure
- belt-tightening
- spending sparingly
Antonyms
- lavishing
- squandering
- overspending
- spending extravagantly
Examples
- The government's new policies focus on economizing public spending without compromising essential services.
- The department is economizing by eliminating unnecessary administrative costs.
- The business began economizing after experiencing a decline in revenue.
Related Words
- cost reduction
- downsizing
- streamlining
- budget management
- austerity
- financial planning