WHAT IS SAVING ?

 Saving refers to the act of setting aside a portion of one's income or earnings for future use rather than spending it immediately.

It is the process of keeping money aside in a secure place or a savings account, with the intention of using it for a specific goal or emergency.

Saving is an essential part of personal finance, as it helps individuals to build wealth, achieve financial stability, and prepare for future expenses or contingencies. By saving regularly, people can accumulate funds that can be used for a variety of purposes, such as buying a home, starting a business, paying for education, or funding retirement.

There are several methods of saving, including setting up automatic transfers to a savings account, budgeting and reducing expenses, investing in stocks or other assets, and contributing to retirement accounts such as 401(k) or IRA.

Saving can also have a positive impact on the economy, as it increases the pool of available capital that can be used for investments, lending, and other productive activities. In addition, it can help to reduce the need for borrowing and debt, which can improve the financial well-being of individuals and families.