In common usage, saving generally means putting money aside, for example, by putting money in the bank or investing in a pension plan. Outside of economics, saving is typically used to refer to economizing, cutting costs, or to rescuing someone or something.
In economics, personal saving has been defined as personal disposable income minus personal consumption expenditure. In other words, income that is not consumed by immediately buying goods and services is saved. Other kinds of saving can occur, as with corporate retained earnings (profits minus dividend and tax payments) and a government budget surplus.