World Savings Day

World Savings Day is celebrated on October 31st and is an important day for those who need help in learning how to save money. Oftentimes, people spend more money than necessary, especially on unnecessary items. The purpose of this holiday is to remind people that it is better to save a small amount than to not save at all.

History

The importance of savings and the need for it has led to the creation of banks. Initially, they were located in large cities, but now they can be found almost anywhere, from public to private institutions. Frugality truly began to take hold after World War II. The holiday is not just for adults, but for children, too. Colorful piggy banks are given to the younger generation in order to motivate them to save for the things they want. By teaching children the importance of savings from a young age, they can grow up to be successful adults.

Interesting facts

• Statistically, Americans spend over $2000 on unexpected expenses.
• Many millionaires began their journey to success by saving money and investing it.
• Some banks offer a certain percentage on deposits, meaning that the money can work for you without your intervention.
• A relative of the piggy bank is the tin can, which was used to collect donations in ancient times.

How to take part

Start saving money! Learn how to do so more effectively and don’t miss a single day. Sort out unnecessary purchases and eliminate them from the list. Handle your budget carefully, but don’t be too extreme – it’s important to spend life comfortably.

When is World Savings Day celebrated in 2023?

World Savings Day is observed on October 31 each year.

Observations