cost savings

Cost savings refers to the reduction of expenses in a business or personal budget. This can be achieved through various means, such as finding cheaper suppliers, improving efficiency, reducing waste, or negotiating better terms. For individuals, cost savings might involve cutting unnecessary expenses, using discounts, or opting for more economical choices. The ultimate goal is to retain more money by spending less, which can then be redirected towards savings, investments, or additional purchases that add value. Essentially, cost savings helps improve financial health by maximizing available resources.