saving

noun

sav·ing | \ ˈsā-viŋ

Definition of saving

(Entry 1 of 3)

1 : preservation from danger or destruction : deliverance

2 : the act or an instance of economizing

3a savings plural : money put by

b : the excess of income over consumption expenditures —often used in plural

c : a usually specified lower cost —often used in plural a savings of 50 percent

saving

preposition

Definition of saving (Entry 2 of 3)

1 : except, save

2 : without disrespect to

saving

conjunction

Definition of saving (Entry 3 of 3)

: except, save

Synonyms Example Sentences Learn More about saving

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Examples of saving in a Sentence

Noun

The new system will provide a saving in labor. How much money do you have in savings? She has her savings in stocks. They were able to retire on their savings.

Preposition

saving three members, the club is now fully committed to the fund-raising project

Conjunction

I would be ready, saving the fact that I can't find my missing shoe.

Recent Examples on the Web: Noun

Not only are the savings huge, but Cathay's service is also worth raving about—think food by top Hong Kong chefs, and free champagne in premium economy. — Bridget Hallinan, Condé Nast Traveler, "Cathay Pacific's Black Friday Sale Saves You $1,000 On Business Class," 20 Nov. 2018 All this said, remember that the core of investing is savings. — Vogue, "7 Investing Terms to Know Before You Turn 30," 14 Aug. 2018 For busy gardeners, the main benefit of using a drip irrigation system is the savings of both time and effort. — The Editors, Good Housekeeping, "How to Install a Drip Irrigation System in Your Garden," 17 July 2018 That's a nice $15 savings off Amazon's current price of $110. — Ian Paul, PCWorld, "4 non-Amazon Prime Day deals: A $450 GTX 1080, a $95 SSD and more," 16 July 2018 Another big reward for cooking at home is the cost savings. — Jennifer Rude Klett, Milwaukee Journal Sentinel, "Table for 1: For solo diners, cooking at home offers many perks," 12 July 2018 For example, maybe the $30,000 pays off your car, buys a ring, puts some money into savings and pays off a third of your student loan debt. — Peter Dunn, USA TODAY, "Too many big financial decisions at once creates impasse for new graduate and girlfriend," 8 July 2018 Martinez said the administration would have to evaluate whether an outside service would be a cost-savings for the jail. — Craig Lyons, Post-Tribune, "County aims to outsource food service for jail, juvenile center," 20 June 2018 There are special savings for Palm Beach County residents. — Doreen Christensen, Sun-Sentinel.com, "12 ideas for free and cheap summer fun | Doreen's Deals," 8 June 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'saving.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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Dictionary Entries near saving

save the life of (someone)

Statistics for saving

Last Updated

18 Mar 2019

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Time Traveler for saving

The first known use of saving was in the 14th century

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More Definitions for saving

saving

noun

Financial Definition of saving

What It Is

In economics, savings is the amount that is left after spending. In banking, savings refers to savings accounts, which are short-term, interest-bearing deposits with a bank or other financial institution.

How It Works

There are only two things to do with money: Save it or spend it. For example, let's say John Doe's paycheck is $1,600 every two weeks, or $3,200 a month. His expenses are the following:

Rent: $1,300
Car payment: $450
Student loan payment: $450
Credit card payment: $300
Groceries: $250
Utilities: $75
Cell phone: $75
Gas: $100
Total expenses: $3,000

Because John spends $3,000 of his $3,200 income per month, he saves $200.

If John's expenses are higher than his income, he is not saving; he is living paycheck-to-paycheck. If he gets fired, has an emergency or his company closes in two weeks, he would have little backup.

In banking terms, savings accounts are time deposits, meaning that a bank can require the account holder to give notice before withdrawing the funds or impose a penalty for withdrawal before a specified date. The interest rates on savings accounts vary by institution but are generally lower than interest rates on longer-term deposits, such as CDs or even money market accounts. Interest is usually compounded monthly.

Why It Matters

It is dangerous not to save money. Not only is it financially risky, it creates unnecessary stress. To enable savings, John must reduce his expenses so that they are less than his income, and he should make regular, disciplined deposits into a savings and/or investment vehicle.

Ironically, when a country saves so much money that it hardly spends anything, its economy can suffer. This is called the paradox of thrift, which is an economic theory developed by John Maynard Keynes that states that the more people save, the less they spend and thus the less they stimulate the economy.

It is important to note that the interest rate paid on a savings account may be below the inflation rate, meaning that the account actually might lose purchasing power over time despite the interest earned.

Source: Investing Answers

saving

noun