Locator: 45330ECON.
At one time, I said I have never seen a definition of "savings" that "satisfied" me. Maybe I wasn't looking hard enough. LOL. Here we go.
Savings = income - spending.
Of course, that begs the question: is buying a house a type of forced savings? Other examples, investments or forced savings?
- whole life insurance;
- annuities;
- a second home;
- a small hobby farm / hobby ranch;
- other real property like art;
- paying for education.
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