Saving

Saving in personal finance refers to setting aside a portion of your income for future use rather than spending it immediately. This practice helps build financial security and prepares you for unexpected expenses, such as emergencies or important purchases. Saving can be done through various means, such as a savings account, retirement fund, or investment accounts. The goal is to accumulate funds over time, allowing you to achieve short-term goals like vacations or long-term objectives like buying a home or retirement. Effective saving requires discipline and a clear understanding of your financial priorities.