Economize: meaning, definitions and examples
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economize
[ ɪˈkɒnəmaɪz ]
financial management
To economize means to use resources, such as money or time, sparingly and efficiently. It often involves cutting down on unnecessary expenditures or making budget-friendly choices. This practice is essential for individuals and businesses to ensure sustainability and to avoid waste. By economizing, one can achieve financial stability and prepare for unforeseen expenses.
Synonyms
conserve, cut back, reduce, save, thrift
Examples of usage
- We need to economize on our grocery shopping this month.
- The company has decided to economize on travel expenses.
- She learned to economize by cooking at home instead of dining out.
Translations
Translations of the word "economize" in other languages:
🇵🇹 economizar
🇮🇳 बचत करना
🇩🇪 sparen
🇮🇩 menghemat
🇺🇦 економити
🇵🇱 oszczędzać
🇯🇵 節約する (setsuyaku suru)
🇫🇷 économiser
🇪🇸 economizar
🇹🇷 tasarruf etmek
🇰🇷 절약하다 (jeoryakada)
🇸🇦 توفير (tawfir)
🇨🇿 šetřit
🇸🇰 šetriť
🇨🇳 节省 (jiéshěng)
🇸🇮 varčevati
🇮🇸 spara
🇰🇿 үнемдеу (ünemdeu)
🇬🇪 შეხვდილი (shekhvdili)
🇦🇿 qənaət etmək
🇲🇽 economizar
Word origin
The word 'economize' has its roots in the Greek word 'oikonomia', which means 'management of a household'. The term evolved through Latin 'oeconomia' before entering the English language in the mid-19th century. Initially, it referred to the careful management of home resources but gradually expanded to encompass broader financial practices. The emphasis on prudent resource management reflects the socio-economic changes of the time, as more individuals and families began to take a proactive approach to budgeting and financial planning. The rise of consumerism in the 20th century further propelled the need for economical practices, leading to the term becoming integral in discussions surrounding sustainability and financial health.