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It's time to save your coins and celebrate World Savings Day on October 31! This day was first established in 1924 by the International Savings Bank Institute (ISBI) with the intention of encouraging people all over the world to become financially literate and practice saving money. Over 95 countries now recognize this holiday, which has become a global phenomenon inspiring people everywhere to start planning for their financial future.
<div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>1924</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>Establishment of World Saving Day</div><div class='timeline-text'>World Savings Day was established by the International Savings Bank Institute (ISBI) during the first International Savings Bank Congress (World Society of Savings Banks) in Milan, Italy.</div></div></div><div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>1955</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>Recognition Expands</div><div class='timeline-text'>By mid-1950s, the holiday was recognized and celebrated in over 45 countries, both in Europe and overseas.</div></div></div><div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>1974</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>Worldwide Acceptance</div><div class='timeline-text'>By the 1970s, World Savings Day was celebrated in over 90 countries across the globe.</div></div></div><div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>1999</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>Adoption by World Bank</div><div class='timeline-text'>In recognition of the day's impact, the World Bank started observing World Savings Day to encourage savings to reduce poverty and boost economic development.</div></div></div><div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>2010</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>Emphasis on Financial Literacy</div><div class='timeline-text'>Emphasis shifted towards promoting financial literacy, underlining the importance of educating young people about savings.</div></div></div><div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>Present Day</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>Global Phenomenon</div><div class='timeline-text'>World Savings Day continues to inspire millions worldwide to save and plan for their financial future, thereby contributing to poverty alleviation and economic welfare.</div></div></div>
<div id='' class='facts-item'><div id='' class='facts-header'><h3 id='' class='facts-number'>1</h3></div><div id='' class='facts-text-wrapper'><h3 id='' class='facts-title'>Open a Savings Account</h3><p id='' class='facts-text'>Find a local bank or credit union and open up a savings account. You'll be able to start saving for a rainy day, for retirement, or for that big purchase you've been wanting.</p></div></div><div id='' class='facts-item'><div id='' class='facts-header'><h3 id='' class='facts-number'>2</h3></div><div id='' class='facts-text-wrapper'><h3 id='' class='facts-title'>Create a Budget</h3><p id='' class='facts-text'>Take the time to sit down and track all of your income, expenses, and savings goals. This will help you identify areas where you can save money and put it away into your savings account.</p></div></div><div id='' class='facts-item'><div id='' class='facts-header'><h3 id='' class='facts-number'>3</h3></div><div id='' class='facts-text-wrapper'><h3 id='' class='facts-title'>Reduce Your Debt</h3><p id='' class='facts-text'>Pay off any credit card debt or loans that you have outstanding. Reducing your debt load will free up more money in your budget so that you can save more.</p></div></div><div id='' class='facts-item'><div id='' class='facts-header'><h3 id='' class='facts-number'>4</h3></div><div id='' class='facts-text-wrapper'><h3 id='' class='facts-title'>Start an Investment</h3><p id='' class='facts-text'>Explore different types of investments such as stocks, bonds, mutual funds, or ETFs - these are great ways to grow your money over time and reach your financial goals.</p></div></div><div id='' class='facts-item'><div id='' class='facts-header'><h3 id='' class='facts-number'>5</h3></div><div id='' class='facts-text-wrapper'><h3 id='' class='facts-title'>Save Your Change</h3><p id='' class='facts-text'>Try putting aside all of the loose change from cash purchases into a jar or piggy bank. After a while, deposit this change into your savings account - even small amounts add up quickly!</p></div></div>
<div id='' class='whywelove-item'><div id='' class='whywelove-letter-cont'><div class='whywelove-letter'>A</div></div><div id='why-we-love-main-cont'><h3 id='' class='whywelove-title'>It encourages financial literacy</h3><p id='' class='whywelove-text'>World Savings Day is an opportunity to learn more about the importance of saving money and how to do it wisely. It can help us understand topics like budgeting, compound interest, and investments for a better financial future.</p></div></div><div id='' class='whywelove-item'><div id='' class='whywelove-letter-cont'><div class='whywelove-letter'>B</div></div><div id='why-we-love-main-cont'><h3 id='' class='whywelove-title'>It helps build resilience</h3><p id='' class='whywelove-text'>Having a savings cushion can give us peace of mind and help get us through tough times in life. By setting aside money for things like emergency funds and educational costs, we are more prepared for the unexpected and empowered to make informed decisions.</p></div></div><div id='' class='whywelove-item'><div id='' class='whywelove-letter-cont'><div class='whywelove-letter'>C</div></div><div id='why-we-love-main-cont'><h3 id='' class='whywelove-title'>It promotes global cooperation</h3><p id='' class='whywelove-text'>When individuals around the world save responsibly, it strengthens the economic well-being of everyone. World Savings Day is a reminder that our individual actions can have a positive impact on society as a whole - encouraging people everywhere to prioritize saving!</p></div></div>
<div class='facts-item'><div class='facts-number-wrapper'><p class='facts-number'>1</p></div><div class='facts-core-content'><h3 class='facts-title'>World Savings Day's Official Mascot – "Thrift"</h3><p class='facts-content'>"Thrift" the squirrel was introduced in 1925 during the second savings banks Congress in the United States as the official mascot to symbolise the industriousness and wisdom associated with good savings habits.</p></div></div><div class='facts-item'><div class='facts-number-wrapper'><p class='facts-number'>2</p></div><div class='facts-core-content'><h3 class='facts-title'>The Shift to Digital Celebrations</h3><p class='facts-content'>With the digital revolution, World Savings Day also saw a shift towards online resources and digital celebrations, including social media campaigns, virtual seminars and webinars about savings and financial sustainability.</p></div></div><div class='facts-item'><div class='facts-number-wrapper'><p class='facts-number'>3</p></div><div class='facts-core-content'><h3 class='facts-title'>Savings Banks, Key Proponents for the Day</h3><p class='facts-content'>Savings banks play a significant role in promoting World Savings Day. These institutions organise various local and national activities to raise awareness about the importance of saving amongst school children, adults and senior citizens.</p></div></div><div class='facts-item'><div class='facts-number-wrapper'><p class='facts-number'>4</p></div><div class='facts-core-content'><h3 class='facts-title'>The Coincidence with Halloween</h3><p class='facts-content'>World Savings Day is celebrated on October 31, the same day as Halloween. It's an interesting coincidence that allows for unique and fun celebratory ideas such as piggy bank or money-themed costumes!</p></div></div><div class='facts-item'><div class='facts-number-wrapper'><p class='facts-number'>5</p></div><div class='facts-core-content'><h3 class='facts-title'>World Record for the Largest Piggy Bank</h3><p class='facts-content'>In the spirit of World Savings Day, a Guinness World Record was set by a Columbian bank on October 27, 2016, for the Largest piggy bank, measuring approximately 17.39m long and 8.76m tall, symbolising the global commitment towards savings.</p></div></div>
World Savings Day is celebrated on October 31 every year. In 2024 World Savings Day will occur on a Thursday.
2023
Oct 31
Tuesday
2024
Oct 31
Thursday
2025
Oct 31
Friday
2026
Oct 31
Saturday
2027
Oct 31
Sunday
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