AN EMPIRICAL STUDY ON HOUSEHOLD SAVINGS OF WORKING AND NON-WORKING PERSONS IN BANGALORE CITY

Abstract

Household savings are calculated by subtracting the amount spent on household consumption from the total household income, including adjustments for changes in pension entitlements. Savings play a decisive role in the economy as they provide funds for investment and contribute to national income. These savings come from various sources, including households, private corporations, and the public sector. Savings represent the portion of an individual's earnings that is not consumed on immediate expenses, such as household bills and personal needs. It is the amount that remains after meeting these expenses finished a precise period, such as every month. By choosing to save, households are sacrificing current consumption to secure their future well-being. Saving Function, which illustrates the reserves of homes at different income levels throughout an assumed period? In India, a decline in households' net monetary hoard due to increased debt poses a danger to the management's wealth reserves, which are crucial for sustaining the nation's position as the wildest-mounting major economy. While we may value various things in life, money holds a special place as our most precious resource. It enables us to create a livelihood for ourselves, and without it, life would be significantly more challenging. Household spending refers to the amount of money that resident households allocate towards meeting their everyday needs, including food, fashion, housing (rent), energy, transportation, durable goods (such as cars), healthcare expenses, leisure activities, and miscellaneous services. The study aims to examine the saving habits of employed and unemployed individuals, as well as the socioeconomic traits of individuals. It also seeks to categorize the factors influencing the perceptions of households with employed and unemployed members.