How Do You Spell PERSONAL SAVINGS?
Pronunciation: [pˈɜːsənə͡l sˈe͡ɪvɪŋz] (IPA) 
Correct spelling for the English word "personal savings" is [pˈɜːsənə͡l sˈe͡ɪvɪŋz], [pˈɜːsənəl sˈeɪvɪŋz], [p_ˈɜː_s_ə_n_əl s_ˈeɪ_v_ɪ_ŋ_z] (IPA phonetic alphabet).
Pronunciation: [pˈɜːsənə͡l sˈe͡ɪvɪŋz] (IPA)
Correct spelling for the English word "personal savings" is [pˈɜːsənə͡l sˈe͡ɪvɪŋz], [pˈɜːsənəl sˈeɪvɪŋz], [p_ˈɜː_s_ə_n_əl s_ˈeɪ_v_ɪ_ŋ_z] (IPA phonetic alphabet).
Personal savings refers to the sum of money that an individual sets aside or accumulates from their own income or earnings, usually with the intention of using it for future expenses or investments. It is the proportion of income that is not immediately spent on consumption but saved for future use. Personal savings can serve as a financial safety net and provide individuals with a sense of security and financial stability.
This term extends to encompass various types of financial instruments and accounts specifically designed to facilitate savings, such as savings accounts, certificates of deposit (CDs), individual retirement accounts (IRAs), or money market accounts. These accounts usually offer interest on the deposited funds, allowing them to grow over time. Personal savings can be earmarked for a wide range of purposes, such as emergencies, education, home purchase, retirement, or simply achieving one's long-term financial goals.
The importance of personal savings lies in its ability to offer individuals financial independence, flexibility, and the means to weather unexpected events or emergencies. It can provide a foundation for investments, allowing individuals to generate wealth or explore opportunities for better financial returns. Building personal savings requires discipline, budgeting, and prudent financial management to ensure consistent contributions over time. By actively saving money, individuals can better control their financial future and meet their aspirations and obligations with greater ease.
The etymology of the word "personal savings" can be broken down as follows:
1. Personal: The word "personal" originated from the Latin word "personalis", which means "pertaining to a person". It entered the English language in the early 17th century, derived from the French word "personnel".
2. Savings: The term "savings" is derived from the verb "to save", which dates back to the Middle English period. The verb "to save" originates from the Old French word "sauver" and Latin word "salvare", both meaning "to rescue" or "to preserve". Over time, "savings" came to refer to money that is set aside or kept safe for future use.
Therefore, "personal savings" refers to the money that an individual sets aside or preserves for their own personal future use or emergencies.
