Onur Cobanli explains:
This adage has two perspectives; During and before production, good design reduces costs; i.e. well-designed products require less energy, less material, and achieve more with less in general thanks to optimizations. After production, good design costs less to maintain, is durable, is functional, is efficient, is sustainable, thus effective design improves joys of everyday life and quality of life while also being affordable. Then of course good design also simplifies tasks, saves time, and makes products more accessible.