Definition, Meaning & Synonyms
offset-the-cost
verb
/ˈɒf.sɛt ðə kɔːst/
Definition
To compensate for an expense or to counterbalance the price of something.
Examples
- We will offset the cost of the renovations by increasing the rental fees.
- The company plans to offset the cost of production by introducing a new marketing strategy.
- By utilizing energy-efficient appliances, they were able to offset the cost of their electricity bills.
Meaning
Offsetting the cost means taking steps to reduce the financial burden of an expense or to balance out the expenses incurred by other financial benefits.
Synonyms
- compensate
- balance out
- counteract