to try to save money by reducing the amount that you are spending节约,节省;紧缩开支
You could economize on food by not eating in restaurants all the time.你要是不总去饭店吃饭,就可以在吃上节省很多。
A lot of companies are trying to economize by not taking on new staff.很多公司为了尽可能节省开支,都不再雇用新员工。