frugal

Vocabulary Word

Definition

'Frugal' refers to sparing or economical with regard to money or food. It's when you make an effort to save money, avoid wasting resources, and maximize efficiency.

Examples in Different Contexts

In tech startups, a 'frugal' approach ensures resources are optimized. A founder might assert, 'Our frugal use of funds allowed us to bootstrap longer than anticipated.'

Practice Scenarios

Business

Scenario:

Our current economic climate calls for stringent financial management. Are there areas where costs can be managed better?

Response:

We can adopt a more frugal policy on travel and accommodation. Reducing such non-essential costs can improve our bottom line.

Tech

Scenario:

As our user base grows, we need to handle high traffic without overloading our server capacity. Can we innovate in resource usage?

Response:

We can opt for a frugal approach when it comes to server usage, optimizing our code and adopting strategies like load balancing.