savings

  

Definition

The portion of disposable income not spent on consumption of consumer goods but accumulated or invested directly in capital equipment or in paying off a home mortgage, or indirectly through purchase of securities.

Use savings in a sentence

  • Hallie usually deposited ten percent of her income into savings at the beginning of each month, and she planned to use these savings to travel in the summer.

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  • The savings and shares are raising program income from savings and shares is advocated within both the financial sustainability paradigm and poverty alleviation paradigms.

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  • The savings we were allowed to experience was an unprecedented level and indicated much success for the new team at the firm.

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Notable Quotes

  • Cutting Costs to Create Big Savings
    "Get paid what you're worth and spend less than you earn. Make sure you know what your job is worth in the marketplace, by conducting an evaluation of your skills, productivity, job tasks, contribution to the company, and the going rate, both inside and outside the company, for what you do. Being underpaid even a thousand dollars a year can have a significant cumulative effect over the course of your working life. However, no matter how much or how little you're paid, you'll never get ahead if you spend more than you earn. Often it's easier to spend less than it is to earn more, and a little cost-cutting effort in a number of areas can result in big savings. It doesn't always have to involve making big sacrifices."
    - Unknown

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