Individual Savings is very much similar to a reserve that any institution keeps for any kind of emergencies. There is a saying, the rate at which you save for the rainy days, will not only save you from starvation but also from unwanted circumstances. Savings rate in Asian economies is very good, here is what Mr. Premji has to say on US savings rate. http://www.expressindia.com/latest-news/Low-savings-in-US-making-dollar-weak-Premji/315730/
which is quite natural, you have a country which has been a great innovator, but the problem is that it has to save in order to grow again into a world super power. In India savings are basically driven by Indian government, which encourages its people to save by giving tax benefits. Why not try this out for a change.
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