Monday , September 27 2021

World Savings Thrift Day Essay,Speech,Quotes, Status,History,Story,Celebration Date & Ideas

World Savings Thrift Day Essay,Speech,Quotes, Status,History,Story,Celebration Date & Ideas

World Savings Thrift Day Essay

Introduction:

Even as a kid, we were told that a penny saved is a penny earned. This goes out to explain how important it is to save money. While people know the importance of saving money, they know little about World Savings Day which was aimed solely to spread awareness about the impacts of saving money.

World Savings Day Essay

Origin Of World Savings Thrift  Day:

On the last day of Congress held in 1924, the organizers announced the establishment of World Savings Day or World Thrift Day as a day to promote the awareness of importance of savings on an international scale to improve the economy of the globe. They believed that every individual has a responsibility in making the global economy stable and if everyone saves a bit and puts it in banks, it will immensely contribute toward the stabilization of finances and make the world more economically viable.

History On World Savings Thrift  Day:

The establishment of World Savings Day was announced by Filippo Ravizza on the last day of International Savings Bank Congress in 1924. This international announcement came with a global agenda to reach out to people from all over the world and teach them the importance of saving money in banks.

World Savings Day gained popularity and helped in bringing people to banks to save their money in a more organized manner in an entity that can use it to lend to others and eventually work towards an improving economy.

First World Savings DayOctober 31, 1925
Forms of CelebrationPosters, Seminars, Broadcasting
First Hymn of ThriftComposed by Gino Valori and Giuseppe Pietri in 1928 to promote WSD

Story behind World Savings Thrift  Day:

While ups and downs in global economy have an impact oneveryone, developing countries are the ones that are affected the most by it. This calls for the need to create awareness of importance of savings at the individual level to contribute towards the growth of individual, and in turn, national and regional economy. You can save by spending less on items you do not need and keeping that money in a savings account instead to use later at a time you actually need the money. World Savings Day serves as the platform focused on enlightening people about the effects of saving money in a bank to get interest in return and increase their savings overtime.

1.Name World Savings Day
2.OriginInternational Savings Bank Congress
3.First Celebration DateOctober 25, 1925
4.Celebration TypeInternational
5.Kind OfImportant Day aimed at Increasing Savings
6.Date TypeFix
7.

Upcoming Celebration Dates

October 31, 2016

October 31, 2017

October 31, 2018

October 31, 2019

October 31, 2020

How it is celebrated?

  • International conferences are held where savings banks sit together and highlight the global economic issues that can be addressed by getting more people to save their money in banks.
  • Banks remain open on this day, as the main purpose is to invite people to put their savings in bank for a secure and economically viable future.
  • In some schools promotional campaign are held and speeches are prepared to teach students the importance of savings from an early age.

New Celebration Ideas:

While each country has their own way of celebrating this day, you can introduce new ways to ensure that more and more people know about this day.

  • As the need of savings is more crucial in developing countries, conference should be held there on this day to create more awareness on this issue.
  • Sessions should be held in local languages for farmers, fishermen, cottage industry owners and other lower class professionals who need to be better educated on these matters to contribute towards global economy while keeping their money safely in banks.
  • Banks should offer a better rate of return on savings account and introduce viable options for opening savings accounts for children to attract more people from a young age.

Purpose of Celebration

The purpose of celebration of World Thrift Day is to make people realize that constant inflow of money is not guaranteed in life and therefore it is important to stash aside some amount on a regular basis to ensure an economically safe future.

Impact on Society:

This events enlightens people about the benefits of saving money to save for emergencies, and future investments. Awareness about the effects of savings on regional and global economy has led more people to trust banks with their money.

Response of Society:

Ever since the establishment of World Savings Day, the number of savers and the volume of bank deposits has significantly increased worldwide. However, the lower class is still oblivious of the impacts that bank savings can have on overall finances. There is need for these classes to be educated more and for the World Savings Day organizers to reach out to these people as well.

Pros and Cons:

ProsCons
Access to accounts with higher rate of return  leads to increased revenueAwareness programs don’t reach lower class
People from developing countries are switching to banks to increase their savings over timePeople open savings accounts in banks but keep it empty which leads to the bank getting nothing in return
The celebrations held by WSBI allow members to connect with local people on economy mattersDue to collapsing economies in developing countries, people do not trust the banks and totally miss out on the purpose of this day
Increased value of money in banks allows them to offer more loans to entrepreneursLack of ATMs in certain regions drives people to keep their cash in hand
Increased savings allow people to relax at an older age when they can live off their life savingsThe constraints set by most banks push people away who cannot keep the minimum required amount in bank due to financial reasons
People save more and are able to cover their expenses in case of emergenciesPoor cannot afford to keep money in banks due to limited resources
Impact of increased savers due to WSD is making banks proportionally increase the savings rate they offerThe day is held on 31st October, and gets dominated by Halloween celebrations
People are setting savings account for their kids from an early age31st October is a public holiday in some countries, which leads to closed banks and lesser inclination towards savings education

Conclusion:

Considering the overall economic picture of the world, WSD works as an essential reminder to the younger generation to make them realize inflows are not always constant and it is better to save now than to worry about money later. WSD has been able to uplift global economy and by maintaining it as an important day every year, its audience can be increased to ensure more people benefit from banks and learn to start saving timely for a better future. By celebrating WSD and reaching out to smaller communities, we can increase the number of savers in the world to make it a better place.

_______________________________________

World Savings Savings Thrift Day Speech

Speech On World Savings Thrift Day

Whatever you want or need in life, money pays a crucial role in getting it. If it’s a material item, you will need money to buy it. If it’s a course that you need to study, you will need money to pay for it. If it’s a surgery you desperately need, you will have to pay for the expenses. Everything comes at a price. Sometimes, people do not have the right amount at the right time and suffer due to lack of money. To avoid such a situation, people need to realize the worth of money before they get themselves in a mess.

World Savings Day aims to teach people about the impacts of saving money and how it can improve their lifestyle, let them enjoy their retirement period, allow them to afford stuff in an emergency and to contribute towards the economic growth of their region. Every penny saved is a penny earned, and by saving even the tiniest amount, you can add to the money that can be used later in life. World Savings Day brings people together on an international level to make them understand how by saving money, they are gaining more and are actually investing in their future.

Conferences, sessions and seminars are held on this day every year in different countries to educate more and more people on global economy and make them realize they are a part of a massive financial chain and by collaborating with banks for saving their money, they will not only be benefiting themselves but will also by eventually contributing towards the regional economy as a whole. By listening to these seminars and creating awareness in more and more people, we will end up with an increasing pool of savers and a massive revenue for even the poor. It will help decrease the gap between the elite and the poor and will help pave way for a stable global financial curve.

_______________________________________

World Savings Day Status Quotes

Quotes & Status On World Savings Thrift Day

Save now so you can buy better things later.

 

Saving money is the best gift you can give to your future self.

 

If you can count your money, you have not saved enough.

 

The more money you spend, the more money you have earned.

 

Young you can survive without money, old you cannot.

 

Save money so that money can save you.

 

Become the master of your money, not its servant.

 

Money saved is better than money spent.

 

It’s your savings that make you rich, not the salary you earn.

 

It doesn’t matter how much you earn, what matters is how much you can save.

 

Not one who earns more is rich, but one who saves more.

 

If you command your wealth, you will be rich and free. If you let your wealth command you, you are poor indeed.

 

Don’t spend your money trying to be someone else.

 

Money doesn’t always buy happiness, but it can buy financial freedom.

 

Your best protection is a little saved money.

 

A little saved money is better than a lot spent.

 

Your money doesn’t show your worth but your savings do.

 

Prioritize your future self. Save money.

 

It’s good to buy what you like but it’s even better to save when you can.

_______________________________________

Other Articles :

Leave a Reply

Your email address will not be published. Required fields are marked *