From Wikipedia the free encyclopedia
In common usage saving generally means putting money aside for example by putting money in the bank or investing in a pension plan. 1 In a broader sense saving is typically used to refer to economizing cutting costs or to rescuing someone or something. In terms of personal finance saving refers to preserving money for future use - typically by putting it on deposit - this is distinct from investment where there is an element of risk.
Saving differs from savings in that the first refers to the act of putting aside money for future use whereas the second refers to the money itself once saved. For example: you may decide to start saving 10% of your income; because you aim for your savings to grow into an amount sufficient to buy a car.
