Observance Daily What day is today, and why are we celebrating it?
World Savings Day, also known as World Thrift Day, is observed annually on 31 October to promote saving money for individuals and for society.
History: it was established on 31 October 1924 during the 1st International Savings Bank Congress (World Society of Savings Banks) in Milan, Italy. Italian Professor Filippo Ravizza declared that day International Saving Day on the last day of the congress. Representatives of 29 countries wanted to remind the public of the thought of saving and its relevance to the economy and the individual. After the First World War, the aim was to restore confidence in banks and encourage people to save safely rather than keep money at home. Savings banks worked with schools, clergy, cultural, sports, professional and women’s associations to promote thrift. After the Second World War the day continued, reaching peak popularity between 1955 and 1970. In India it is observed on 30 October, because 31 October is also the anniversary of the assassination of Prime Minister Indira Gandhi in 1984.
How to celebrate: open or top up a savings account, set a small automatic weekly saving, review your budget, teach children about saving with a piggy bank, and set one clear savings goal for the year.
Facts: the piggy bank became a universal symbol of saving; the World Savings and Retail Banks Institute runs a global campaign each year; the day is usually held on 31 October except where that is a public holiday, so banks can be open for deposits.
Related: see also https://observancedaily.com/october-31