value for money

Syllable breakdown

Dictionary meaning

the relationship between the cost of something and the benefit received, expressing whether the benefit justifies the price paid; a purchase, programme, or policy represents value for money when the outcomes delivered are proportionate to or exceed the resources invested; the concept is central to public sector accountability, procurement policy, and consumer decision-making; something can be expensive in absolute terms yet still represent excellent value for money if the quality and durability are proportionate, or it can be cheap in absolute terms but poor value if it delivers little benefit or requires costly maintenance