savings fund
nounUK /ˈseɪvɪŋz fʌnd/
US /ˈseɪvɪŋz fʌnd/
A savings fund is money you keep in a safe place to use later.
She put her birthday money into her savings fund for a new bike.
RELATED WORDS
OTHER MEANINGS
2. A pool of money set aside by a group or organization for a specific purpose.
The club started a savings fund to pay for its yearly trip.
3. Money collected regularly, such as through payroll deductions, to be used for a future goal.
He joined the company's savings fund to save for retirement.
4. An account or plan where money is kept and allowed to grow over time.
The family opened a savings fund for their child's education.