Épargne

Épargne is the French term for saving money or other resources. It denotes the part of income not spent on current consumption and set aside for future needs, emergencies, or investment. Individuals, households, and institutions engage in épargne through a variety of financial assets, cash holdings, or non-financial assets. The concept also covers the discipline of setting aside funds over time to smooth consumption and build wealth.

In macroeconomics, épargne represents funds available for investment. The saving decision affects interest rates, credit supply, and capital formation. Broadly, saving can be private (households and businesses) or public (government). Shifts in épargne influence a country's current account and long-term growth, and policies may encourage or tax savings to influence behavior.

In France, a range of saving instruments cater to different risk and liquidity profiles. Common products include savings accounts such as the Livret A and other regulated Livrets, an assurance vie (life insurance contract used for savings), and housing or retirement-oriented plans like the Plan d'Épargne Logement (PEL) and the Plan d'Épargne Retraite (PER). Employees may participate in épargne via company plans (PEE, PERCO).

Épargne behavior is influenced by income, expectations of inflation and interest rates, and financial literacy. While higher savings can increase future resilience, excessive restriction of current consumption may slow short-term demand. In policy terms, governments often promote épargne through tax advantages and regulatory frameworks that encourage safe, accessible savings vehicles.