Way of saving face, so only come in disguise (7)

I think it could be either:

Which length description are you looking for?:

7,2,5

economy

'way of saving' is the definition.
'economy' can be an answer for 'saving' ('economy' can be a synonym of 'saving'). I am not certain of the 'way of' bit.

I cannot understand how the rest of the clue works.

(Other definitions for economy that I've seen before include "Thrift - national production, distribution and consumption" , "Judicious expenditure of money" , "Country's system of wealth creation" , "Careful use of resources" , "Financial system" .)

I've seen this clue in The Guardian.

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