World Thrift Day – On October 31, 1924, at the first International Savings Bank Congress in Milan, Italy, World Savings Day was founded. On the final day of the convention, Professor Filippo Ravizza of Italy proclaimed this day the “International Savings Day.”
Every year on October 31st, people all around the world commemorate World Thrift Day to encourage saving and financial security for both individuals and their countries.
Why World Thirft Day?
World thrift day was created to educate people about the benefits of saving money in a bank as opposed to keeping it in their homes or under their mattresses.
Due to the late Prime Minister Indira Gandhi’s passing on the same day in 1984, this day is commemorated on October 30 in India.
international thrift congress initially October 31 has been designated as World Thrift Day,, which was held in Milan, Italy in 1924. This day is observed in an effort to modify how we behave toward saving and to continually emphasise the value of wealth.
Savings capacity will serve as a buffer against financial disaster. It enables us to launch a business, receive a top-notch education, and access first-rate medical care. Savings habits will help people and the nation become independent.
Theme
World Thrift Day this year will focus on the idea that saving helps you plan for the future. Thrift is defined as an approach to spending so carefully that we don’t wind up doing it all at once.
The subject of this World Thrift Day’s theme this year is “Saving gets you ready for the future.” Thrift is defined as an approach to spending so carefully that we don’t wind up doing it all at once.
The emphasis of this year’s theme will be on the same thing and raising global awareness of the value of saving money. The day will also be centred on restoring public confidence in banks and encouraging consumers to choose better strategies for saving money.
Adopting this will improve your chances of enjoying a higher level of living and help you understand how to save money wisely.
The following is a list of some past years’ themes:
Understanding the Value of Saving Money in 2021
Money is essential for a number of reasons,
Significance of World Thrift Day
Establishing a stable future, as well as educating youngsters. The main message distributed on this day to the world is the significance of saving money and the different ways and places that might assist in doing so.
World Thrift Day has grown in significance as more businesses participate globally. Financial security is necessary for one to have a bright and secure future.
Reason
There are several reasons to save money. It can be for the future of one’s children, for old age, for retirement, for marriage, for jewellery or the purchase of luxury cars, or for anything else that one chooses. Saving you in maintaining your self-control and putting some money aside for the future. Beginning on October 30, 1924, at the conclusion of the Milan hosts the inaugural International Thrift Congress. International Savings Day was formally established by the Italian academic Filippo Ravizza. Numerous associations that understood the value of saving soon endorsed the concept.
Background
Even while there are instances of certain nations observing a day dedicated to saving, World Savings Day made the concept more popular by making it more widely recognised. Additionally, several nations required encouragement as a result of the ravages of war. But after the Second World War, thrifting grew in acceptance more than before.
Banks began to welcome more clients as a result of the emphasis placed on saving, particularly in developing countries. The significance of saving has also been strongly emphasised by non-governmental organisations.
The annual World Savings Day has a distinct theme that captures the rescuing spirit. These ideas inspire more people to develop a saving habits. Banks and other financial institutions have also developed a number of programmes to encourage people to save more money and make sensible investments. In order to encourage more people to save money, the government and institutions including schools and media outlets spread awareness throughout this vacation.
How to Celebrate?
Another celebration that attempts to encourage kids to save is World Savings Day. Piggy banks have always been a smart concept because they give kids a sense of prosperity when they see how much money they have saved. Let’s face it, even grownups adore the concept of a piggy bank! Every year on October 31st, people all over the world observe World Thrift Day to ensure financial stability for both the person and the country. World thrift day was created to educate people about the benefits of saving money in a bank as opposed to keeping it in their homes or under their mattresses.
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