Scrimp

Scrimp

Definition

Scrimp refers to a way of managing finances by being mindful of the spending habits. It involves being thrifty and cautious with our expenses, making deliberate choices to save money whenever possible. Scrimping is all about being resourceful and finding ways to stretch our budget. It might mean cutting back on non-essential purchases, finding more affordable alternatives, or simply being more conscious of where our money goes.

By scrimping, we aim to make our financial resources last longer and ensure that we’re making the most of what we have. It’s a practical approach to managing our finances, allowing us to prioritize our needs and save for future goals. Scrimping can also extend beyond financial matters. We can apply the concept of scrimping to other areas of our lives, such as conserving resources or being mindful of our time and energy. It’s about being intentional and making conscious choices to maximize the value of what we have. Scrimping doesn’t necessarily mean living a life of deprivation or sacrifice. It’s about finding a balance between our wants and needs and making thoughtful decisions that align with our financial goals.

Example sentences
It’s important to scrimp on unnecessary expenses when you’re trying to pay off debt.
We need to scrimp on our grocery budget this month to save money.
I’m trying to scrimp on electricity usage by turning off lights when I leave a room.
I’m going to scrimp on buying new clothes and focus on using what I already have.
Scrimping on small daily expenses can add up to significant savings over time.