save on their savings vs draw on their savings

Both phrases are correct, but they are used in different contexts. 'Save on their savings' implies finding ways to reduce expenses or get discounts to increase savings, while 'draw on their savings' means using the money saved for a specific purpose.

Last updated: March 15, 2024 • 794 views

save on their savings

This phrase is correct and commonly used in English.

This phrase is used when referring to finding ways to reduce expenses or get discounts in order to increase the amount of money saved.

Examples:

They were able to save on their savings by using coupons and shopping during sales.
By cutting down on unnecessary expenses, they managed to save on their savings each month.

Alternatives:

reduce their expenses to increase their savings
find discounts to save more money
cut costs to boost their savings

draw on their savings

This phrase is correct and commonly used in English.

This phrase is used when referring to using the money saved for a specific purpose or need.

Examples:

They had to draw on their savings to cover the unexpected medical expenses.
It's important not to draw on your savings unless absolutely necessary.

Show examples from the web [+]

Jun 23, 2013 ... that retirees generally draw on their savings at a very conservative rate (De Nardi et al., 2006; Love et al., 2008; Smith et al., 2009, Poterba et al.
At what points in time do young people have difficulties managing their finances ( and when would they need to draw on their savings most)? How and where do ...
Nov 13, 2014 ... “Savings in an employee stock purchase plan can present a viable option for workers who need to draw on their savings for financial purposes.
Oct 27, 2014 ... The proportion of Australian households running into debt or needing to draw on their savings has decreased to 17.7 per cent, the lowest in ...

Alternatives:

use their savings for a specific purpose
tap into their savings
dip into their savings

What Our Customers Are Saying

Our customers love us! We have an average rating of 4.79 stars based on 283,125 votes.
Also check out our 2,100+ reviews on TrustPilot (4.9).

"Thank you!"
Sachi Nakama July 2024
"I have literally been through chat, PI, claude, bard and bing and I got conflicting answers! Thank you! Human intelligence reigns!"
Retha July 2024
"Faster than AI"
CYNTHIA December 2023
"This was very helpful and I personally think this site is the best."
Kaden October 2023
"It was extremely thorough and very helpful!"
imperialelisa October 2023
"7 years without any disappointment. Always 100% satisfied. You guys are the best in the world at what you do. Thank you so much :)"
Zubair Alam October 2023
"In a world of text messages and online communication, this is great to have as a live tool. Thank you."
Selena October 2023
"Without textranch I would be stuck!"
宏祐 October 2023
"Accuracy and fast response. Personal comments from editor. Thank you."
Clh September 2023
"I wasn't aware of this service, it's fascinating and more reliable than standard IA tools available on the internet"
Arturo September 2023
"The fact that you can get reliable fast feedback on your texts."
Vinicius Antonio August 2023
"you guys are better than grammarly i'm being honest here"
ordinary July 2023
"OMG! This is really good than any other text correction tools I've used so far. Highly recommend this."
Vehan July 2023
"Very fast and accurate. thank you."
mojtaba July 2023
"I love this app because it's help to writing skills all of students ♥️"
Tarisini July 2023
"This was exactly the mistake I was looking for, the wording dind´t sound right at first. Better than grammarly!"
Ente July 2023
"The immediate help that I received was reassuring and very satisfactory. Thanks."
priiiyanshuu July 2023
"this helps A LOT for my studies."
kathnunez02 June 2023
"Woow!! I would never have expected such precision! Thank you soooo much!!"
Berta June 2023
"Real Time Editor and not AI. Many Thanks."
Priya June 2023
"The very first thing excites me about Textranch is how much your editors care."
sepideh June 2023
"The fact that texts are checked by human editors rather than by AI, etc. I appreciate this!"
Анна June 2023
"Feel welcome, immediate response, high quality feedback"
martin.roy June 2023
"This is the best app that I have ever seen"
Burulai May 2023

save on their savings vs draw on their savings