The impact of Covid19 pandemic on Household saving behavior in Rwanda

The novel coronavirus SARS-Co-2 that caused the Covid-19 pandemic has emerged as an uncommon global health crisis in late 2019 and brought socioeconomic challenges in different parts of the world. Its impact has reached both developing and developed countries, changing various aspects of daily life. While the main concern was to mitigate the public health consequences caused by the virus, the pandemic’s consequences surpassed healthcare, spreading into social, economic and behavioral dimensions. In the thousand hills country, the government of Rwanda faced these challenges significantly, affecting household saving behavior. This study investigates how the Covid-19 pandemic influenced saving behaviors among Rwandan households. It explores the factors that contributed to changes in saving patterns and the extent to which these changes impacted the financial stability of households. The findings reveal that the pandemic led to increased uncertainty and financial insecurity, prompting households to adjust their saving strategies. This paper concludes with recommendations for policy interventions to enhance financial resilience and support households in times of crisis