Saving is the process of setting aside a portion of income for future use. This can involve putting money into a bank account, investing in stocks, or keeping cash at home. The goal of saving is to build financial security and prepare for unexpected expenses or future goals, such as buying a house or funding education.
Many people use savings accounts to earn interest on their money while keeping it accessible. By regularly contributing to savings, individuals can create a safety net that helps them manage emergencies and achieve long-term objectives, like retirement or travel.