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Definition of economize verb from the Oxford Advanced American Dictionary

 

economize

 verb
verb
NAmE//ɪˈkɑnəˌmaɪz//
 
[intransitive] economize (on something)Verb Forms present simple I / you / we / they economize
 
he / she / it economizes
 
past simple economized
 
-ing form economizing
 
 
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to use less money, time, etc. than you normally use Old people often try to economize on heating, thus endangering their health. Thesaurussave
  • budget
  • economize
  • tighten your belt
These words all mean to spend less money.
  • save to keep money instead of spending it, often in order to buy a particular thing:I'm saving for a new car.
  • budget to be careful about the amount of money you spend; to plan to spend an amount of money for a particular purpose:I've budgeted $1,000 to furnish my new apartment.
  • economize to use less money, time, etc. than you normally use
  • tighten your belt (somewhat informal) to spend less money because there is less available:My parents really had to tighten their belts after my mother retired.
Patterns
  • to save up/budget for something
  • to have to save/budget/economize/tighten our belts
  • to try to/manage to/be able to save/budget/economize
See economize in the Oxford Advanced Learner's Dictionary