Etymology
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saving (prep., conj.)

"except for; but for; minus," also "with due respect or consideration for" (one's honor, etc.), late 14c.; see save (prep.).

saving (n.)

early 14c., "salvation;" late 14c., "act of protecting (someone) from danger or death," verbal noun from save (v.).

By 1550s as "economy in expenditure or outlay; a reduction or lessening in expenditure." Savings "sums saved over time by the exercise of care and economy" is by 1727. Savings bank , for encouraging thrift "among people of slender means" [Century Dictionary] is by 1817; savings account is attested by 1882. S & L for savings and loan is attested from 1951. 

saving (adj.)

c. 1300, "delivering from sin or death;" 1530s, "delivering or preserving from peril;" present-participle adjective from save (v.). The notion in saving grace is "spiritual gifts necessary to salvation;" the non-Christian sense (by 1903) is moral or mental, indicating something that redeems or exempts from censure.

updated on January 08, 2022

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Definitions of saving from WordNet
1
saving (n.)
an act of economizing; reduction in cost;
there was a saving of 50 cents
Synonyms: economy
saving (n.)
recovery or preservation from loss or danger;
a surgeon's job is the saving of lives
Synonyms: rescue / deliverance / delivery
saving (n.)
the activity of protecting something from loss or danger;
Synonyms: preservation
2
saving (adj.)
bringing about salvation or redemption from sin;
saving faith
Synonyms: redemptive / redeeming
saving (adj.)
characterized by thriftiness; "wealthy by inheritance but saving by constitution"- Ellen Glasgow;
Etymologies are not definitions. From wordnet.princeton.edu, not affiliated with etymonline.