savings

Savings refer to the portion of income that you set aside rather than spend immediately. It’s like building a financial cushion for future needs or goals, such as emergencies, education, or retirement. By consistently saving, you accumulate money over time, which can provide security and flexibility. Savings can be stored in various accounts like a savings account, or invested for growth. Developing a habit of saving helps manage unexpected expenses, reduces financial stress, and prepares you for important life milestones. It’s fundamental to maintaining financial wellbeing and achieving long-term stability.