The amount of money kept aside after spending on day to day needs is called savings. This money saved can be utilised for any reason in the future such as emergencies, investments, children’s education, buying a house or a car.

Example:
For example, Rekha earns 8,000 rupees in a month. She spent 6000 on her food, school fees, bills etc.
She is left with un-utilised 2000 every month which is her savings. Saving regularly accumulates to big amounts over the years.