> There is nothing about savings that implies they must be liquid.
Here are several examples that disagree. Yes, in a strict Keynesian economic sense it is saving but saving is different from savings, despite the similarity in the two words. (Yes, you are right, this is confusing.)
Examples defining "savings" in personal finance:
https://www.investopedia.com/terms/s/savings.asp
"Savings is essentially cash"
https://www.britannica.com/money/saving
"Saving may take the form of increases in bank deposits, purchases of securities, or increased cash holdings."
https://en.m.wikipedia.org/wiki/Saving
"In terms of personal finance, saving generally specifies low-risk preservation of money, as in a deposit account, versus investment, wherein risk is a lot higher."
Here are several examples that disagree. Yes, in a strict Keynesian economic sense it is saving but saving is different from savings, despite the similarity in the two words. (Yes, you are right, this is confusing.)
Examples defining "savings" in personal finance:
https://www.investopedia.com/terms/s/savings.asp
"Savings is essentially cash"
https://www.britannica.com/money/saving
"Saving may take the form of increases in bank deposits, purchases of securities, or increased cash holdings."
https://en.m.wikipedia.org/wiki/Saving
"In terms of personal finance, saving generally specifies low-risk preservation of money, as in a deposit account, versus investment, wherein risk is a lot higher."