The total cost of products available for purchase far out-values the money any one of us might have to purchase them. With so many choices available, we need to pay attention to how we spend our money. Otherwise, one day we might find ourselves without money to buy the things we really need. Saving is the best way to make sure we will have money for the things we really want and need. Saving means voluntarily putting aside a certain amount of money regularly, for future usage.
People often save with a particular goal in mind.
Savings goals can be short term or longer term. Longer term goals often include buying a house or saving for college. People also save to have money in case of an emergency. Today, most people keep their savings in a financial institution. Financial institutions offer special accounts for savers called savings accounts.