Savings
'seɪvɪŋz
Definitions
2 meaningsMoney that is not spent, but kept for future use.
'seɪvɪŋz
Money kept in a safe place.
He had significant savings set aside for his retirement.
💡 Simply: Imagine you have a piggy bank. Your savings are all the coins and money you put in there to keep for later, like buying a toy or going on a trip!
👶 For kids: Money you keep instead of spending it.
More Examples
It's wise to have some savings for emergencies.
They depleted their savings to cover the unexpected medical bills.
How It's Used
"She put her savings into a high-yield savings account."
"Their savings helped them during the economic downturn."
The act of saving time, resources, or money by reducing costs or avoiding waste.
'seɪvɪŋz
The act of reducing expenses.
The new policy led to significant savings in administrative costs.
💡 Simply: It's like finding ways to not waste things. For example, turning off the lights to save electricity is a way of having energy savings!
👶 For kids: When you use less of something, like turning off the lights to save electricity.
More Examples
Their efforts resulted in considerable water savings.
They achieved savings in time and effort through automation.
How It's Used
"The company implemented several cost-saving measures to increase savings."
"Energy savings are crucial for reducing our carbon footprint."
Synonyms
Assets
Capital
Funds
Reserves
Cuts
Economies
Efficiencies
Reductions
Idioms & expressions
rainy day savings
Money saved for unexpected expenses or emergencies.
"It's important to have rainy day savings in case of job loss or health emergencies."
From the verb 'save', derived from Old French 'sauver' and ultimately from Latin 'salvare' meaning 'to save'. The -s ending indicates the plural form, often referring to accumulated funds.
Used in financial contexts from early modern English, reflecting growing importance of trade and commerce.
Memory tip
Think of the word 'safe' – it is where you keep your savings.