World's Saving Day 30 Oct
☑➕ On October 31, 1924, in Milan, Italy, at the first International Savings Bank Congress (World Society of Savings Banks), the World Savings Day was founded. On the final day of the meeting, Professor Filippo Ravizza of Italy proclaimed this day the "International Saving Day." The Thrift Congress declared that "World Thrift Day" should be a day dedicated to promoting savings globally in its resolutions. The clergy, as well as organisations for women, professionals, athletes, and sports fans, supported the savings banks in their attempts to encourage thrift.
World Thrift Day was not an entirely original concept. There have been instances of days dedicated to the idea of saving money to improve one's standard of living and to stabilise the economy, such as in Spain, where the first national saving day was observed in 1921, or in the U.s.a. In some nations, such as Germany, it was necessary to restore the public's faith in savings because a large portion of them had been lost during the German monetary reform of 1923.
World Savings Day persisted after the Second World War and attained its greatest acclaim between 1955 and 1970. In certain nations, it essentially turned into a custom. The official saving mascot in Austria, the so-called "Sparefroh" (literally, "Happy Saver," or more appropriately, "save happily!"), achieved a higher level of brand awareness than the republic's president, and a street was even named in his favor. The "Sparefroh-Journal," a young readers' educational journal, attained a circulation of 400,000 copies in the 1970s.
Representatives from 29 countries wished to remind the public at large of the "idea of saving" and its value to the economy and the person. The World Savings Day is typically observed on October 30, with the exception of countries where this day is a bank holiday. This is because it is intended that banks remain open on that day so that people can deposit their savings into their accounts.
The World Savings Day is now mainly focused on developing nations, where there are many unbanked residents. With specific campaigns and activities like working with non-governmental organisations to double the number of savings accounts held by the poor, savings banks play a significant role in increasing saves in these countries.
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