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National Savings Day

Save smarter and not harder! National Savings Day is the perfect day to kickstart your savings plan and start investing in a better future.

Monday

October 2026

Last updated February 7, 2026 · by the Holiday Calendar Team

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YEARLY DATEOctober 12

OBSERVED INUnited States

CATEGORYBusiness

SUBCATEGORYFinancial Literacy

INTRO

Introduction

PHOTO

It's time to start saving on October 12 with National Savings Day! This special day was created in the late 1800s to encourage people to put away money for their future and be more aware of their financial goals. It's a great opportunity to take stock of your finances and make sure you're setting yourself up for success. With so many options available, there are plenty ways that you can save big this National Savings Day!

TIMELINE

National Savings Day Timeline

First Savings Bank

The first savings bank in the U.S., The Philadelphia Saving Fund Society (PSFS), was established, promoting the idea of thrift among ordinary people.

Inception of Tax Benefits

Tax benefits for savings and investment income were first introduced, encouraging individuals to save more of their income.

Birth of Social Security

The Social Security Act was signed into law by President Roosevelt, offering a safety net and promoting the idea of savings for retirement.

Emergence of IRAs

Individual Retirement Accounts (IRAs) were established, allowing individuals to save for retirement with tax-free growth or on a tax-deferred basis.

Introduction of 529 Savings Plan

The 529 Savings Plan was established to encourage saving for future college costs, offering tax-free investment growth and withdrawals for qualified expenses.

National Savings Day Initiated

Capital One declared October 12 as National Savings Day, a day to recognize those who value the act of saving and inspire others to save effectively.

GET INVOLVED

How to Celebrate National Savings Day

Cut back on spending

Rather than buying something new, try to find ways to cut back and save. Make small lifestyle changes such as packing your lunch instead of going out, or canceling a subscription.

SET

Set up an automatic savings plan

Set up an automatic transfer from your checking account to your savings account each month. This will help you save without even thinking about it.

OPEN

Open a high yield savings account

Look for a high yield savings account that offers higher interest rates on your savings. This will help your money grow faster.

MAKE

Make a budget

Take the time to make a budget and stick to it. It will help you keep track of your spending and learn how to save more.

INVEST

Invest in stocks

Start investing in stocks with the money you save and watch it grow over time. You can also look into mutual funds or exchange traded funds for a more diversified portfolio.

WHY THIS DAY MATTERS

Why National Savings Day is Important

Saving helps you take advantage of opportunities

Saving money also allows you to take advantage of opportunities that arise in life. Whether it's buying a new car, moving into a bigger house, or taking that dream vacation, it's always nice to have a little extra saved up if the chance arises.

Saving money is important for reaching financial goals

Having enough money to cover our expenses and prepare for the future is essential for a secure financial future. This is why saving money now, rather than spending it on unnecessary things, is so important - it will help you meet your short and long term financial goals.

Savings can provide peace of mind

Emergency savings can be used in unforeseen circumstances such as an illness or job loss that may leave you financially vulnerable. Having an emergency fund set aside can provide peace of mind and security knowing you are prepared if something unexpected happens.