World Savings Day Celebrated on 20th October 2019

Become the master of your money not it’s servant

There is a huge gap between the rich population and the poor population of the country. Every year the rate of Millionaires is increasing drastically, but there is an exponential growth in the rate of poor people who do not fulfill even their basic needs like bread and better.

This is because the people who save money and utilized it for their future benefit will see bright future ahead and the people who do the opposite very soon or later in their life they have to face economic problems and resulting this problem their children’s does not get proper education, proper food, and many health-related problems. To make people aware of the benefits of saving money not just saving but also utilized it in the best way like investment and many other platforms so that the future of their kids and their family members are bright the World Saving Day is celebrated.

On 30th October the World Saving Day is celebrated. This is celebrated in many countries and many organizations take part in the celebration of World Saving Day. It is said that “A penny saved is the penny earned” it is true but many people do not follow this advice and waste their hard earned cash on the things that they do not need. It is also said that One unit of energy saved today is two unit in the future. It also applies here. A penny saved is multiple times of that in the long future only if you know how to save your money and put it in the proper place to give you multiple returns. It is an effort by this platform of World Saving Day to not just put your money inside mattress and forget about it but to invest in banks and many other such platform so that by doing so it will give you multiple returns and you don’t have to depend upon government and on any other person or organization for your retirement.

History of World Saving Day

On October 31, 1924, first World Saving Day was established in Milano, Italy. This day was established at the International Saving Bank Congress which is also known as World Society of Saving Banks. This day is also known as ‘World Thrift Day’. The term “International Saving Day” was first declared by the Italian Professor Filippo Ravizza. The only purpose of this day is to educate the backward working classes and children and families of saving and make them save some parts of their earned money for future benefits.

From 1924 to the present stage there are many financial institutions and banks that have been established and almost many financial institutions celebrate this day to not only increase awareness but also make people of the nations believe that by saving money you as an individual is helping in the developing of the economy of the nation. And the plus point of all this you will have more money and a better future. This financial institution conduct seminars and lectures and also they invite the special guest to show the audience the importance of saving money. The topic of a lecture is all about saving money and building the bright future for you and your families. Some of this topics are: The importance of saving money, World Saving Day, The role of money in the economy of the nation, Why saving is important? , Some of the great benefits of saving money, Your money Your Future.

It is important to celebrate this day because to restore the confidence of many people who have lost their saving like in the year 1923 in Germany. There are people who save their money for their future benefits and to also have a very comfortable life in the future. But all their dreams were wiped out when their saving is lost in the German monetary reform of 1923. The same thing had happened in the country of Spain. And this country had adopted the idea of celebrating saving day three years prior to the world. The world saving Day was first celebrated in Spain in the year 1921. It is celebrated because to make people believed that there saving are in safe hands and they should not worry about their future.

World Saving Day Activities

The World Saving Day has celebrated in many countries and in different countries, many different activities take place on this day. Many countries in the world celebrate this day on 31st October every year. But in India, it is celebrated on 30th October in any district of the states. The celebration of this day is done in the presence of government officials such as the District Collectors, MLAs, local MPs, and almost every Government officials. Up to 31st of October 1984, World Saving Day was celebrated on October 31st in India and after the demise of Prime Minister Indira Gandhi, the day chosen was October 30th for the celebration of World Thrift Day.

The center purpose for celebrating this day remains the same for every country that is to educate people about the benefits of saving money and the freedom that will bring with it in the future. Many Brochures and Posters, Leaflets were distributed among the people to invite them to the events and to have a healthy talk about money and the present situation of the economy. Press articles were also written in different parts of the world so that the message and the importance for this day should reach to a large number of people.

It takes a lot of time to make any habits and in working-class people, it is difficult to build a habit of saving. Keeping this in mind many Saving Campaign is run in many schools in many different parts of the state. School children were educated about the importance of saving money and the benefits that come with it and how this is very important that you should always keep some amount of money aside and start investing. In many schools, children were given piggy banks to inspire them to save money. Many schools and colleges open saving account for children and on this day they were given saving account passbook so that they should keep the habit of saving even after they finished their school. Children are like wet soil and any habit that they put in their childhood will become permanent for their lifetime. So the majority of the financial institute focuses on children by giving them many offers and schemes to encourage them to save money and not only this they also help them to open accounts in their firms.

On this day a particular theme is selected to get the message of this to the entire world. As the theme of World Saving Day was chosen “Grabbing Hold of Your Financial Future”. This is the theme of the year 2016 and 2017. The theme of this year is yet to decide. Choosing such a theme also raises curiosity in the people and so many people take part in this event. It is important that many people should know about this event because it is there benefits at the end.

In the end, it is important to save money. Money is next to oxygen to live on this planet earth. Everyone should secure there own financial future and this day is an effort to make people take control of there finance so that they should not depend on anyone for there retirement. This is the platform where the banks and many financial institutions come together with the common people to make their future bright and secure. It is an effort to have a bright and prosperous future for everyone.