savings

Meanings

1. 1nounplural

   money that you have kept and not spent, especially money put aside for the future

   Grammar: Takes a plural verb: 'My savings are growing.' Not used with 'a' or numbers directly; say 'a lot of savings' or 'some savings'.

   Patterns

   • have savings
   • use your savings
   • savings account
   • savings of an amount

   She used her savings to buy a new car.

   After ten years, their savings had grown enough to pay for a house.

   He lost most of his savings when the stock market crashed.

2. 2nounpluralbusiness

   the amount of money you avoid spending by buying something at a lower price or using less

   Grammar: Often used in business or shopping contexts: 'a savings of 20%' or 'big savings'.

   Patterns

   • savings of an amount
   • big savings
   • offer savings

   The sale offers savings of up to 50% on all winter coats.

   By switching to a cheaper energy provider, we made significant savings each month.

Common combinations

savings account

I opened a savings account to earn interest.

life savings

He invested his life savings in the business.

dip into savings

They had to dip into their savings to pay for the repair.

savings bond

She bought a savings bond for her grandson's education.

Synonyms and how they differ

funds

Funds is a more general word for money available for use, while savings specifically means money set aside and not spent.

nest egg

Nest egg is informal and refers to a large sum saved for a specific purpose, like retirement; savings can be any amount.

Opposites

Word family

save verb

to keep money for later use

saver noun

a person who saves money

Commonly confused: savings or saving?

Practice

Make it your own

Write a sentence using “savings”, then check it and compare it with the examples above.

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