Savings refers to the part of the current income that is not spent to the consumer but retained for the purpose of spending in the future. The savings can be in multiple formats such as your cash savings into bank deposits or savings to buy securities, etc.
.Savings is part of the current income not spent for consumption, but keep the objective to spend in the future. The use of savings could have many forms, such as holding cash.Or the savings to buy securities, etc.!