economize

/ɪˈkɑnəmaɪz/

/ɪˈkɒnəmaɪz/

Other forms: economizing; economized; economizes

To economize is to be frugal — to be careful not to waste anything, including money. You may need to economize on heating oil, keeping the temperature in your apartment on the nippy side during the winter.

Giving a kid an allowance is one way to teach her to economize, spending it carefully in an attempt to save some and make the rest last. Unless money is no object, most people need to economize to some extent, being frugal and avoiding waste. In the 17th century, to economize was "to govern a household," from economy, at the time "household management," from the Greek oikonomia, "household management or thrift."

Definitions of economize

1. verb

   spend sparingly, avoid the waste of
   “The less fortunate will have to economize now”

   synonyms: economise, save

   types:

   tighten one's belt

   live frugally and use less resources

   type of:

   drop, expend, spend

   pay out
2. verb

   use cautiously and frugally
   “I try to economize my spare time”

   synonyms: conserve, economise, husband

   types:

   retrench

   tighten one's belt; use resources carefully

   type of:

   preserve, save

   to keep up and reserve for personal or special use