Definitions

1. verb

to reduce expenditure or waste in using resources or to reduce the amount of something needed or used

“She had to economize on her expenses to save for the down payment on a house.”

2. noun

the act or process of economizing

“Economizing helped the company reduce its losses.”

3. verb (transitive)

to make more efficient or effective in using resources

“The new management team aimed to economize the production process to save time and money.”