What is Mazuma? Understanding the UK Slang Term for Savings
Mazuma is a slang term that originated in the United Kingdom and is used to refer to a sum of money or a financial reserve. It is often used to describe a person's savings or a pool of money set aside for a specific purpose, such as a rainy day fund or an emergency fund.
The word "mazuma" is believed to have originated in the early 20th century and is thought to be derived from the Arabic word "ma'zum," which means "money set aside." It was popularized in the UK by the music hall performer and singer-songwriter, George Formby, who often used the term in his songs.
In the UK, mazuma is often used informally to refer to a person's savings or financial reserves, and it is not typically used in formal financial contexts. However, it has gained popularity in recent years as a way to describe a person's financial safety net or emergency fund, particularly among younger people and those in lower-income households.
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