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  2. Savings are used for the following purposes123:
    1. Emergency fund: Savings provide a financial cushion for unexpected expenses.
    2. Short-term goals: Saving for specific purchases or events.
    3. Avoiding debt: Having savings helps avoid borrowing money.
    4. Investment: Savings can be invested to earn returns.
    5. Financial security: Savings contribute to overall financial stability.
    Learn more:

    Key Takeaways

    • Savings is the amount of money left over after spending and other obligations are deducted from earnings.
    www.investopedia.com/terms/s/savings.asp

    Key Takeaways

    • Because savings accounts pay interest while keeping your funds easily accessible, they’re a good option for emergency or short-term cash.
    www.investopedia.com/terms/s/savingsaccount.asp

    How to save money: 13 easy tips

    • 1. Review your spending habits ...
    • 2. Automate your savings ...
    • 3. Compare other options for your mobile service ...
    www.bankrate.com/banking/savings/how-to-save-…
     
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