A savings plan is a structured approach to setting aside money for future needs or goals. It typically involves regularly depositing a certain amount into a dedicated account, such as a savings account or an investment account. The goal is to accumulate funds over time, which can be used for emergencies, major purchases, or retirement. Many people use a savings plan to build financial security and achieve specific objectives, like buying a home or funding education. By consistently saving, individuals can take advantage of interest or investment growth, making their money work for them while preparing for future expenses.