Meaning of the word "cut your losses" in English

What does "cut your losses" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

cut your losses

US /kʌt yʊər ˈlɔsɪz/
UK /kʌt yʊər ˈlɔsɪz/
"cut your losses" picture

Idiom

1.

to stop doing something that is clearly going to be unsuccessful before you lose any more money, time, or effort

Example:
After investing so much, it was hard to cut our losses, but the business was failing.
It's time to cut your losses and move on to a new project.
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