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Thinking about the future and making financial plans is a wise practice. And making a plan by putting a few dollars aside on a regular basis is what World Savings Day is all about.

History of World Savings Day

Established in 1934 in Milan, Italy, during the First International Savings Bank Congress where representatives of 29 countries met, World Savings Day was originally created to promote the idea of being thrifty all over the world. In fact, the original name was World Thrift Day!

Born just after the impact of the Great Depression on economies all over the globe, the idea for World Savings Day was founded to restore the confidence people had in saving their money in an effort to ensure a higher standard of living. Creating public awareness and instilling hope for the future, this day brings a reminder and education to those who are in need of financial security.

Countries all over the globe have had different types of promotions in observance of World Savings Day. In Austria, there was an official mascot (the “Happy Saver”) who reached a high enough degree of brand awareness that he even had a street named after him.

Since the idea for World Savings Day is that it would be a time for people to go to the bank and transfer money into their savings accounts, the day is typically scheduled for a day when banks are doing business.

How to Celebrate World Savings Day

It’s fun – and also rather lucrative – to be a part of World Savings Day! Check out some of these ideas for getting involved in the day:

Open a Savings Account

For those who don’t have a savings account, World Savings Day would be the best time to open one! Depending on the bank, it’s possible to get started with just a small amount of money and then the balance can build as time goes by.

Since it’s the 21st century, now it’s even possible with some banks to open a savings account online – without even needing to step food into the bank. In any case, it’s a great idea to attach your savings account to your checking account so it’s easy to make regular transfers to help build and grow the amount of money in savings.

Teach the Kids about Saving

An amazing gift that can be given to the next generation is the gift of financial security. When kids start a savings account when they are young, it’s an investment in their future. Not only does it help them set some money aside for a rainy day, but the bigger investment is the fact that they are learning how to be thrifty and how to save as a disciplined part of life.

Most banks offer a special program for children to have savings accounts that are fee free and don’t have a high limit. So check out a favorite local bank to see the ways it’s possible for kids to get started on World Savings Day!

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Mon Oct 31st, 2022
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