Option B. Savings is money left over after buying what is needed and wanted.
This is the term that is used to refer to the money that a person would set aside for a period that has not yet come. It is money that can help to take care of unforeseen needs.
Savings is usually money that is left after a person has spent money on all that they are required to buy. In economics, we can define savings to mean income that is not spent on consumption. It is also known as the money that is saved to be consumed in another time period. Savings are very important, the reason is because it takes care of unplanned needs. It helps to take care of the needs that a person has in order to prevent them from borrowing.
Hence we can conclude that Savings is money left over after buying what is needed and wanted.
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