Austerity: meaning, definitions and examples

Used in economic contexts to describe strict financial policies meant to reduce government debt. Often involves cutting public spending and raising taxes.

• The government implemented austerity measures to tackle the national debt
• The period of austerity was marked by significant cuts in public services

Informal term used to describe personal or organizational measures to reduce expenditures. Typically used in everyday language or in a business context.

• During the economic downturn, many families had to engage in belt-tightening
• The company announced some belt-tightening measures to stay afloat

Often used in formal financial discussions to describe the enforcement of rules and strategies to manage public finances responsibly.

• Fiscal discipline is essential for long-term economic stability
• The government emphasized the need for fiscal discipline to avoid future crises

Used to describe the reduction of planned or existing expenditures within an organization, company, or government. Usually in a specific context like a department or project.

• The school faced significant budget cuts, leading to staff layoffs
• The budget cuts in healthcare will affect many public services

Used to describe strict economic policies or conditions, often by the government or organizations to reduce expenditure.

• The government introduced harsh austerity measures to tackle the debt crisis.
• During times of austerity, many families struggle to make ends meet.

Used to describe someone who is careful with their money, avoiding waste and unnecessary expenditure.

• Frugality is a virtue that helps people save for emergencies.
• Her frugality allowed her to retire early with a comfortable savings.

Describes a lifestyle or approach that is uncomplicated and focused on the essentials, often to achieve clarity and reduce stress.

• She embraced simplicity by decluttering her home and focusing on what truly matters.
• The beauty of the design lies in its simplicity.

Refers to the ability to control one's behavior, actions, and decisions, often to achieve personal goals.

• Self-discipline is key to maintaining a healthy lifestyle.
• He achieved success through hard work and self-discipline.