World Thrift Day 2022, Theme, History & Significance

World Thrift Day 2022: World Thrift Day is observed on October 31 around the world, but it is observed on October 30 in India because Indian Prime Minister Indira Gandhi also left for heaven on that day. There are many strategies that can be used to save money, which is a step toward protecting us from the financial crisis. There is always a need to save to protect your future generations, whether it be through having a savings account or investing money in SIPs. World Thrift Day is thought to be one of the oldest days celebrated around the world.

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World Thrift Day 2022: History 

The first International Savings Bank Congress was held in Milan, Italy, on October 24, 1924, and this is when World Thrift Day, also referred to as World Savings Day, was first established. Italian professor Filippo Ravizza declared this day to be “International Savings Day” on the final day of the Congress. This day was established by the resolutions of the Thrift Congress to encourage saving everywhere. They aimed to restore trust in banks, whose authority had been lost following the First World War, and to encourage people to save money. Only after WWII did the day gain significance, and it has been observed every year on October 31 since then. It is observed on October 30 in India.

World Thrift Day 2022: Theme

This year, World Thrift Day will focus on the idea that saving helps you plan for the future with the theme “Saving prepares you for the future”. Thrift is defined as a method of spending so wisely that we do not end up spending it all at once. The emphasis of this year’s theme will be on the same thing and raising global awareness of the value of saving money. The day will also be centered on restoring public confidence in banks and encouraging people to choose better strategies for saving money.

World Thrift Day 2022: Significance

Saving money is essential for a variety of reasons, including children’s education and creating a secure future. On this day, the main message to the world is the importance of saving money and the various methods and areas that can assist in accomplishing that goal. With commercial participation all over the world, World Thrift Day has grown in significance. Financial security is required for a bright and secure future. This day is observed to encourage people to save money. This is a global celebration that is especially recognized by responsible retail and savings banks, cultural organizations, sports organizations, and skilled agencies. World Thrift Day reminds us of the importance of regular savings to be financially secure.

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FAQs: World Thrift Day 2022

Q.1 When is World Thrift Day observed?

Ans. World Thrift Day is observed on October 31 around the world, but in India it is observed on 30th of October.

Q.2 Who declared this day to be “International Savings Day” on the final day of the Congress?

Ans. Filippo Ravizza declared this day to be “International Savings Day” on the final day of the Congress.