savings plan
Future money strategy
A savings plan is a structured approach to setting aside money, typically through regular contributions to a designated account.
The term often refers specifically to employer-sponsored retirement accounts like 401(k)s: My company matches contributions to my savings plan up to 5%.
More broadly, any systematic method of accumulating funds qualifies: We started a savings plan for the kids' college.
- pension plansEmployer-sponsored retirement savings
- retirement ageStandard work-ending milestone
- contribution limitsMaximums on donations allowed
- dollar cost averagingFixed periodic investment strategy
- financial goalsPlanned monetary milestones
rainy day fund · Roth IRA · compound interest · long-term growth · emergency fund · budgeting · mutual funds · pay yourself first · financial literacy · Social Security · annuities · stocks · 401(k) plans · savings · expense tracking · account · bonds · index funds
- savingssavings account, piggy bank, online savings, savings bonds, emergency fund
- retirement planning401(k), retirement fund, IRA, retirement income, pension
- personal planninggoals, budget, calendar, schedule, to-do list
- Pre-purchase stepsresearch, browsing, comparison, wishlist, budgeting
- bankingbank, banks, ATM, ATMs, account
- budgetsbudget, budgets, annual budget, capital budget, cash budget
savings planspending spree
Bout of extravagant purchasing
splurging · living beyond one's means · squandering · spending plan · extravagance
savings planbuy now pay later
Installment option at checkout
leveraging · deficit spending · debt spiral · mortgage · line of credit