savings

Everyday

1. Money that you keep and do not spend, often in a bank or money box. tree →
2. An amount of money or time that you do not have to spend because something is cheaper or quicker: "a saving of 5 dollars". tree →

In the lessons

In maths and money lessons, savings grow when you put money aside each week; problems ask how long it takes to save for something. In everyday life, savings are kept in a piggy bank, a savings account or a credit union. Shops talk about "savings" when prices are lowered. Phrases: savings account, life savings, money savings, make a saving, put into savings.

Examples

• I keep my savings in a jar. tree →
• Ava used her savings to buy a new bike. tree →
• If I add 3 dollars a week to my savings, I will have 30 dollars in 10 weeks. tree →
• Mum opened a savings account for me at the bank. tree →
• The sale gave us a saving of 10 pounds. tree →
• Walking instead of driving is a saving of money and fuel. tree →
• He lost his life savings in a scam. tree →
• And then he bade her give the men back their savings. tree →

Note

"Savings" (money kept) is usually plural: "My savings are in the bank." "A saving" is one amount saved. The verb is "save". In maths, a saving is the difference between the old price and the new price: was 20, now 15, saving 5. Safety: never give your bank details or savings to strangers online; it may be a scam.