World thrift day or world saving day is celebrated every year on 30th October to promote savings and financial security of individual and nation as a whole.
The World Savings Day was established on October 31, 1924, during the 1st International Savings Bank Congress (World Society of Savings Banks) in Milano, Italy. The Italian Professor Filippo Ravizza declared this day the “International Saving Day” on the last day of the congress.
World Savings Day, or World Thrift Day as it was also called, was established to inform people all around the world about the idea of saving their money in a bank rather than keeping it under their mattress.
A theme often used throughout its history is saving money to gain a higher standard of life and to secure the economy.
How can we save money?
- Start by controlling your expenses.
- Make a budget.
- Spend wisely.
- Buy only necessary and essential things. Distinguish between the ‘need’ and ‘greed’.
- Be self-reliant.
- Cut short your electricity, water and others bills.
- Set your goals for savings.
- Make investments
Celebration of this activities include marketing activities such as advertisements to commemorate the day and encourage savings, cultural events sponsored by the Savings Banks, large events with government leaders, educational activities with children about the importance of savings, hosting public media event to discuss the role of savings and pensions, promotional campaign, including launching a new savings product and a small contest for people opening savings accounts.