Long-term savings refers to the practice of setting aside money for a significant period of time, typically several years or more, with the goal of achieving a specific financial goal in the future.

This type of saving is often done with a particular purpose in mind, such as building an emergency fund, saving for retirement, or purchasing a large item like a house or car.

Long-term savings typically involves a disciplined approach to budgeting and investing and may involve a variety of financial instruments such as stocks, bonds, mutual funds, or savings accounts.

The ultimate objective of long-term savings is to accumulate a sufficient amount of money to meet a future financial goal or need.