economical
Carefully using money or resources without wasting them.
Economical means using resources carefully and avoiding waste. An economical car uses less gasoline to travel the same distance as a gas-guzzler. An economical shopper compares prices and buys quality items that will last, rather than cheap things that break quickly.
The word suggests smart choices about how to spend money, time, or materials. When your teacher asks you to be economical with art supplies, she wants you to use what you need without being wasteful. An economical writer uses just enough words to express an idea clearly, cutting out anything unnecessary.
Being economical is different from being cheap or stingy. A cheap person might buy the lowest-quality backpack to save a few dollars, only to replace it three times during the school year. An economical person invests in one good backpack that lasts for years. The economical choice often costs more upfront but saves money and resources over time.
You might also hear the similar word economic, which relates to economics or the broader system of money and trade. When news reports discuss economic growth, they're talking about the economy itself. But when someone describes a decision as economical, they mean it's a wise, efficient use of resources.