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

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.

Alternatives:

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

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save on their savings vs draw on their savings