Economizing: meaning, definitions and examples
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economizing
[ ɪˈkɒnəˌmaɪzɪŋ ]
financial management
Economizing refers to the act of reducing expenses in order to save money or resources. It is often employed by individuals or organizations to enhance their financial stability. This approach encourages careful budgeting and resource allocation.
Synonyms
conserving, cutting back, saving, thrifting.
Examples of usage
- We started economizing to save for our vacation.
- During the economic downturn, many families began economizing on groceries.
- The company is economizing its operations to increase profitability.
Translations
Translations of the word "economizing" in other languages:
🇵🇹 economizando
🇮🇳 बचत करना
🇩🇪 wirtschaften
🇮🇩 menghemat
🇺🇦 економія
🇵🇱 oszczędzanie
🇯🇵 節約する
🇫🇷 économiser
🇪🇸 ahorrar
🇹🇷 tasarruf etme
🇰🇷 절약하다
🇸🇦 توفير
🇨🇿 šetření
🇸🇰 šetrnosť
🇨🇳 节约
🇸🇮 varčevanje
🇮🇸 hagræðing
🇰🇿 экономия
🇬🇪 ეკონომია
🇦🇿 iqtisadiyyat
🇲🇽 ahorrar
Etymology
The term 'economizing' is derived from the word 'economy', which traces its roots back to the Greek word 'oikonomía', meaning 'household management.' The concept has evolved over centuries, reflecting changing societal values regarding resource management. Initially associated with household finances, economizing has come to encompass broader applications in personal finance and business strategy, particularly in contexts of budgeting and resource allocation. As economic conditions fluctuate, the practice of economizing has gained greater significance, urging individuals and organizations alike to make prudent financial decisions. This evolution highlights the importance of financial literacy and sustainability in contemporary society.