ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Investment-Setting aside money for future income, benefit, or profit to meet long-term goal; using savings to earn a financial return.

Detailed explanation-2: -Savings refers to the money that a person has left over after they subtract out their consumer spending from their disposable income over a given time period. Savings, therefore, represents a net surplus of funds for an individual or household after all expenses and obligations have been paid.

Detailed explanation-3: -Savings is setting money aside for use at a later time. Investing is using a resource (usually money) with the expectation that it will generate increased income or grow in value. Think about why savings could be important in your life. Putting aside money for future use can help you meet life goals.

Detailed explanation-4: -Some common synonyms of frugal are economical, sparing, and thrifty. While all these words mean “careful in the use of one’s money or resources, ” frugal implies absence of luxury and simplicity of lifestyle.