SAVINGS VEHICLE: A way of saving money e.g. savings account or investments.

EMERGENCY FUND: Money saved to be used in emergencies, such as the loss of a job or illness.

SAVINGS TARGETS: A goal for which you save e.g. education, a house, or a car.

SAVINGS PLAN: A plan designed around a budget in which you regularly save in order to reach your financial goals.

STOKVEL: A member-based savings vehicle such as a burial society in which members contribute money to a collective fund and receive payouts in times of need. Stokvels may also involve the buying of groceries or contributions to other community-based services.

SOCIAL GRANT: A government run scheme in which certain citizens receive money based on certain criteria e.g. pension, disability grants and child support grants, etc.