Voluntary savings are financial assets set aside for use in the future.

Question

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Voluntary savings are funds that individuals set aside on their own for future needs or goals, such as emergencies, education, retirement, or large purchases. These savings can be in various forms, such as cash, bank deposits, stocks, bonds, mutual funds, or real estate. Unlike mandatory savings, which are required by law or employer, voluntary savings are optional and depend on personal choices, income, expenses, and priorities.

Voluntary Savings Are Financial Assets Set Aside for Use in the Future