what is the ruling on saving money?

If the person in question pays the Zakah due on this money, fulfills his obligations without any failure to meet what is required, it is permissible for him to save surplus money for a time when he may need it, for his dependents, or for any other unforeseen circumstances.

May Allah grant us success! May peace and blessings be upon our Prophet Muhammad, his family and Companions!

Permanent Committee for Scholarly Research and Ifta' Saudi Arabia

Deputy Chairman Chairman
`Abdul-Razzaq `Afify `Abdul-`Aziz ibn `Abdullah ibn Baz

Fatwaa Link