Saving is considered a vital element in the development process by stepping up the process of capital formation as assets accumulated through saving are commonly used to finance further consumption or investment. Again, total savings in an economy comprises domestic, corporate, foreign and contractual and household. Of these, the importance of household savings is undeniable on account of its rising influence in shaping the aggregate savings in an economy. Again, the need to have household savings stems from economic and non-economic factors. A primary economic motive for saving is the harmonization of the consumer strategies of households with their budgetary possibilities. The non-economic motive comprises mainly the psychological and behavioral factors that influence an individual’s savings. Set in this frame, the present volume is an attempt to shed light on various aspects of household savings like its linkages with the process of economic development apart from various factors that influence household saving. The book is divided into two sections. The first elucidates the importance of household savings amongst aggregate savings along with determining the motives for it. As such motives are usually classified into economic and non-economic ones. The second section draws examples of select countries of the world, both developed and developing, and tries to grasp the state of household savings in each of them and their alignment with the level of economic growth.
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