In our everyday speech this is how people talk. So in that sense it is correct usage. I claim it is misleading to think this way. I think our speech has been

In our everyday speech this is how people talk. So in that sense it is correct usage. I claim it is misleading to think this way. I think our speech has been affected by marketing and it’s caused a change in how we think about money. Spending money is never a savings. All you can do is spend less than what you were willing to spend. I know our way of speaking isn’t going to change anytime soon but I hope to change the way people think about saving. I hear people who are broke talk about how much they saved in the scenario you presented. But they have no savings at all and it is bad for them to think they saved money when in fact they spent money. Spent money is not a savings.