To Put Something Aside
transitive verb, ichidan verb
Because the hiragana ends with an う sound, you know this word is a verb. The kanji itself means savings, so the verb vocab version would become to save or to put something aside. Basically, you're saving up, which is good to do, I'm told.
Since this word consists of a kanji with hiragana attached, you can bet that it will use the kun'yomi reading. You didn't learn that reading with this kanji, so here's a mnemonic to help you: You need to save, so you take one (たくわ) and put it aside, then take another and use it. This way you will have saved at least half.
We need to save up some funds before we can start a big business.