A state-issued bond from all 50 states. Many savings programs are protected by the federal government against loss.
Deferred consumption, or not spending money, is saving program. One way to save is to set money aside in a deposit account, a pension account, an investment fund, or in cash. Saving also entails cutting expenses, like recurring expenses. Savings refers to any income not used for immediate consumption.
In terms of personal finance, saving typically refers to low-risk preservation of money, such as in a deposit account, as opposed to investment, where risk is much higher. Savings don't necessarily contain interest; instead, they refer to the act of avoiding using up one's resources, while interest refers to repeated possibilities to cut expenditures or to one's resources in the form of cash.
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