Savings

Savings refer to the portion of income that is not spent on current expenditures and is set aside for future use. This can include money put into savings accounts, investments, or other financial vehicles designed to grow over time. The primary purpose of savings is to provide a financial buffer for future needs, including emergencies, planned purchases, or retirement. Savings can be seen as a crucial aspect of personal financial management, allowing individuals to build wealth, achieve financial security, and prepare for unforeseen circumstances. In the context of economics, the concept of savings also plays a role in overall economic stability and growth, influencing investment levels and consumption patterns within a society.