Event and Festivals

World Savings Day 2019: History and Significance of the Day That Promotes Saving Money

Piggy Bank (Photo courtesy: pixabay.com)

Every year 30 October is celebrated as World Savings Day, which was earlier known as World Savings Day. World Savings Day 2019 is falling on Wednesday. WSD is celebrated to promote the quality of saving money for individuals in the country's economy as well as globally. The main purpose of this day is to promote people to save money in banks rather than placing them under a mattress, money chest or locker at home. Tough Time Saving Money in Nice People: Research.

Going into history, World Savings Day was celebrated for the first time on 31 October 1924 during the First International Savings Bank Congress in Milan, Italy. On the last day of the Congress, Italian Professor Filippo Ravindra declared the day as "International Savings Day". Its purpose was to make people aware to save money on a large scale because after the First World War people were not sure about saving.

After the Second World War, the concept of World Savings Day became popular. And since then, WSD 2019 has been seen in countries like Austria, Italy, Belgium, Colombia, Germany, Cuba, India, Dominican Republic, Indonesia, etc. Save millions in a year by investing in your health! Here's how gym memberships or health insurance can make you rich.

Importance of saving

Saving money is a good practice as it comes to use during emergencies such as job loss, major home repairs, medical expenses, etc. As education is becoming expensive, saving money is important. Savings help in achieving a dream or goals such as buying a house or car, starting a business, health care and more.

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