World Thrift Day 2023: Date, history, meaning

World Thrift Day 2023: It's the festival season, and we can't keep calm. However, it is important to remember to save money as it gives us financial security, freedom, and a safety net when we go through tough times. Difficult times can occur anytime, and we must be prepared to combat them. While it's essential to have fun and make memories, we should always remember to save money when we can. World Thrift Day promotes the importance of saving money and how savings can cushion our difficult times. Raise awareness about the importance of savings to save money.

World Thrift Day is just around the corner, and as we prepare to celebrate, here are some things to keep in mind.

Date of World Thrift Day:

World Thrift Day is celebrated every year on October 30. This year, World Thrift Day will be celebrated on Monday.

History of World Thrift Day:

In 1934, at the first International Savings Bank Congress, Filipo Ravizza – an Italian professor – proposed the idea of World Thrift Day. This day and the awareness it raised gained more importance and understanding between 1955 and 1970 when people began to witness the horror of the two world wars and became increasingly aware of their financial security and savings.

Importance of World Thrift Day:

Savings saves us in times of financial crisis. Money and savings are put to use, from starting a new business to providing a decent education to our family members and accessing healthcare facilities. It is important to learn the importance of saving early to have a life governed by independence and financial freedom. Emotional and social stability and a decent lifestyle is also provided by the amount of savings we have. From avoiding getting into loans or stress and anxiety, saving can save us. Banks and nonprofit organisations play an important role in making people understand the different ways to save.