Savings

Savings refer to the act of setting aside money or resources for future use or emergencies. It involves putting aside a portion of income or funds with the intention of accumulating a financial reserve over time. Savings can be stored in various forms, such as bank accounts, certificates of deposit (CDs), or investment vehicles like mutual funds or individual retirement accounts (IRAs). Savings provide individuals and households with a safety net, financial stability, and the ability to meet future goals or unexpected expenses. It is a fundamental aspect of personal finance management.