In deposit terminology, the term Savings refers to money set aside for the purpose of future use. Savings generally represent only one part of an individuals assets and, unlike investments, they usually have a minimal exposure to risk.
For example, Savings will often be deposited into a bank savings account where the funds will earn a nominal amount of interest and will be insured in most cases. In the United States, bank savings and checking accounts are insured by the Federal Deposit Insurance Corporation or FDIC. Savings accounts in countries other than the United States carry different terms that may even include different currency deposit options. Most major countries have their own versions of deposit insurance to protect the Savings accounts of the customers of financial institutions. Savings represent an important part of an individuals, as well as a nations, basic assets.