World Thrift Day is celebrated on 31st October across the globe and on 30th October in India. Globally observe this day aims to spread awareness about financial saving and to found basic foundation about economic concepts in society. It emphasizes on the significance of savings which shields you from unexpected crisis situations. It also aids you to further and support your aims and ambitions like having access to quality healthcare and education facilities, owning a home, starting a business and so on.
History and Significance of the Day-
The first World Thrift day was inaugurated in Milan Italy by International Saving Bank Congress in 1924. In Spain the first national thrift day was celebrated in 1921, or in the United States. The aim of celebrating this day is to change our behavior towards the saving and constantly reminds us the importance of wealth.
Best way to Save Money-
- Start by controlling your expenses.
- Make a budget.
- Spend wisely.
- Buy only necessary and essential things.
- Be self-reliant.
- Set your goals for savings.
Facts about World Savings (Thrift) Day 2023
- Date of Observation: World Savings (Thrift) Day is celebrated on October 31, 2023. It falls on the last day of October each year.
- Historical Significance: The day has its roots in the World Savings Day, which was established during the 1st International Savings Bank Congress in Milan, Italy, on October 31, 1924. It was created to raise awareness about the importance of saving money and to promote the idea of thrift.
- Global Participation: World Savings (Thrift) Day is observed in many countries around the world, with various events, educational programs, and initiatives aimed at encouraging people to save and manage their finances wisely.
- Educational Activities: On this day, financial institutions, schools, and community organizations often organize workshops, seminars, and outreach programs to teach people about the value of saving, budgeting, and financial planning.
- Inculcating Good Financial Habits: World Savings (Thrift) Day serves as a reminder of the need for responsible financial management. It encourages individuals and families to develop good saving habits, avoid unnecessary debt, and plan for their financial future.
- Banking Partnerships: Many banks and financial institutions use this occasion to offer special savings products, promotions, and incentives to attract new savers and reward existing customers for their commitment to saving.
- The Power of Compound Interest: A common theme of World Savings (Thrift) Day is the power of compound interest. It illustrates how regular, disciplined savings can grow over time thanks to the compounding of interest.
- A Global Perspective: This day highlights the importance of thrift and saving in the global context, emphasizing how saving on a personal level can contribute to national and global economic stability.
- Digital Savings: With the advent of digital banking and financial technology, World Savings (Thrift) Day is also a reminder of the convenience and accessibility of online savings accounts and investment options.
- Saving for the Future: World Savings (Thrift) Day encourages people to save for various purposes, including emergencies, education, retirement, and achieving long-term financial goals.
World Savings Day (World Thrift Day) Messages
“What you will save today will secure your future…. Wishing you a very Happy World Savings Day just to remind you to save a little for a better tomorrow.”
“Small saving a day doesn’t hurt much but it does make a big difference for the times that are going to come….
Happy World Savings Day.”
“World Savings Day reminds each one of us that how important it is to safe and why we must never forget to save.”
“Small steps to save a little money can result into big savings over a period of time…. Follow this philosophy to have a better future…
Happy World Savings Day.”
Wishing a very Happy World Savings Day to everyone…. Don’t spend everything today because there is also a tomorrow which waits for you.”
Quotes on World Savings Day
“Always save a certain amount of money in your hands for your tomorrow and you will never regret… A very Happy World Savings Day to you.”
"It is good to buy what you like now for yourself but it is even better to save for yourself when you can."
“Savings that you make today never go waste because they do help you in times of need…. Warm wishes on World Savings Day to you.”
“Smallest of the savings made today have the power to give you a better future… Never give up on the habit of saving.
“Savings are very important, for the unpredictable tomorrow and for a happier tomorrow….
Happy World Savings Day.”
"Economic resources of the country should be utilized for the well being of the poor. The change will commence from this point – Shri Narendra Modi, Hon’ble Prime Minister of India."
"Saving money is the best gift you can give to you future self."
“Celebrate the occasion of World Savings Day by reminding each one around you to save, to secure the lives of your loved ones.”