Hello, MaaAdjoa, and welcome to the Grammar Exchange!

The hyphen is correctly used. What you should avoid is the repetition of "saving," and this you can do by dropping the first occurrence of that word and leaving the first hyphen orphan (i.e. waiting for the word that will complete its sense later), or eliminating it altogether:

1- time- and cost-saving manner
2- time and cost-saving manner

Alternatively, you can find:

3- time and cost saving manner

Of all the options above, I prefer (1). Perhaps David, our moderador, can tell us what he thinks or knows about this issue.

Gustavo, Contributor posted:
1- time- and cost-saving manner [. . .]

Of all the options above, I prefer (1). Perhaps David, our moderador, can tell us what he thinks or knows about this issue.

Hello, MaaAdjoa, and welcome to GE!

I agree with Gustavo's answer and, like you, share his preference for (1). The hyphen after "time" in (1) is sometimes referred to as a suspensive hyphen. Another option is to use a relative clause:

4- a manner that saves time and money

I'm not saying that I prefer (4) to (1). There is a good chance that I would use (1).

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