Top countries of europe for The hypothesis states that consumption and saving decisions by individuals and households, at each point in time, reflect a more or less conscious attempt to achieve the preferred distribution of consumption over the life cycle. The second reason for saving (for bequests) stems from the notion that human beings like their children and are very motivated to work hard and save for their children’s consumption. A study, by Lauren Koltikoff and Lawrence Summers (1981), concluded that the desire to make bequests was the most important motive for saving. Whether saving is for bequests or to support consumption in retirement years, it has important implications for the individual, the household and the economy as a whole. Aggregate saving. Economists believe that a constructive way to analyze and understand saving data is by aggregating them into what is called the personal (household) saving rate. To take an example, the U. Top countries of europe 2016.