World Thrift Day

Hello Everyone My Name is Vivek Chaturvedi. I am writing a blog about World Thrift Day.

img is not available

World Thrift Day is celebrated annually on 31st October worldwide. In India, the day is celebrated on 30th October. The day was established with the intent of raising awareness among people all around the world about the idea of saving their money in a bank rather than keeping it under their mattress or at home. This promotes savings and financial security for not only the individuals but for the nation as a whole. In this article, we will know about the day, its history and its significance.

Why is World Thrift Day being celebrated?

This occasion is celebrated in various parts of the world to promote the habit of thrifting and saving. Countries like Spain, the United States, and Germany celebrate World Thrift Day enthusiastically.

World Thrift Day is an excellent event for people to get together and promote the idea of reusing and saving. People partake in various activities on this day, such as thrifting, reusing items, and putting their savings safely into the bank.
It is an important day to be remembered for individuals and the country's economy. Savings, as we all know, are necessary for every depositor who contributes to economic development.

Why does India celebrate this day on 30th October?

World Thrift Day is celebrated annually on 31st October worldwide, but in India, the day is celebrated annually on 30th October.
Due to the death of the late Prime Minister Indira Gandhi on the same day in 1984, this day is celebrated on 30th October in India.

History of World Thrift Day

Thrifting is considered a virtue in many cultures, but people often get carried away by impulses and make avoidable purchases. On World Thrift Day, the importance of thrifting and saving money is discussed to teach the habit of savings to the individuals of a nation.
The idea of World Savings Day was born out of nothing. Some examples of days earlier also that were committed to saving money to gain a higher standard of life and secured the economy, for instance, in Spain, where the first National Thrift Day was celebrated in 1921, or the United States.

In countries like Germany, the people's confidence in savings had to be restored since many of them had lost their savings in the German monetary reform of 1923.

Even without official celebrations, there was a social norm about the importance of saving money for a long time in humanity.
Although the idea of institutionalizing the habit of savings to ensure financial security at all times was in the works, it was in 1924 that the First International Thrift Congress was held in Milan, Italy, during the International Savings Bank Congress (also known as the World Society of Savings Banks).
Filippo Ravizza officially launched the day; an Italian professor called it International Savings Day.

World Thrift Day was instituted to promote the habit of savings and better management of money and wealth.

The prominence of the day peaked between 1955 and 1970. Following the horror of the two World Wars, citizens became increasingly conscious of the significance of saving.

Significance of World Thrift Day 2022

img is not available
  1. People are encouraged to be more aware of their income and save it properly on World Thrift Day, particularly those who are poor or jobless. Here is why this day is significant
  2. On this day, the main focus is on saving money. 
  3. Savings provide a safety net in times of economic crisis. It assists us in beginning a business, obtaining a decent education, and receiving quality healthcare.
  4. Countries and the people living in them can enjoy economic independence if they develop the practice of saving.
  5. Saving provides emotional and social stability and a good attitude toward living a better lifestyle.
  6. Savings can help us avoid loans, reduce stress, and help to prepare for unexpected healthcare expenses.
  7. Banks and non-governmental organizations are essential in understanding numerous ways to save money.
  8. Chronology of World Thrift Day 1800-A Different Kind of Saving-People hides their coins, especially silver dollars, inside cast iron pipes in their homes
  9. 1924-First Celebration of World Thrift Day-The world celebrates the first World Savings Day or Thrift Day with posters, lectures, brochures, leaflets, press articles, chorus singing, broadcasting, educational, and propaganda films.
  10. 1928-'Hymn of Thrift' Composed-Gino Valori and Giuseppe Pietri compose the 'Hymn of Thrift' to bring more life to saving.
  11. 1970s-A Saving Mascot, Austria's official mascot of saving, Sparefroh or Happy Saver, grows more popular than the republic's president and even has a street named after him.
If you know about share market so please visited my new website indiansharemarketinformation.blogspot.com 

Also Thank for you support. Thanks for Reading. Please comment me if you like my blog please share with your family member and friends.

Please join us:-



Comments

Post a Comment

Popular posts from this blog

The Omkareshwar Temple

Image
  Hello Everyone My Name is Vivek Chaturvedi . I am write a blog about The Omkareshwar Temple.  Omkareshwar  is a Hindu temple dedicated to God Shiva. It is one of the 12 revered Jyotirlinga shrines of Shiva. It is on an island called Mandhata or Shivpuri in the Narmada river at Khandwa district in Madhya Pradesh, India; the shape of the island is said to be like the Devanagari ॐ symbol. There are two main temples of Lord Shiva here, one to Omkareshwar (whose name means "Lord of Omkara or the Lord of the Om sound") located in the island and one to Mamleshwar (whose name means "Immortal Lord" or "lord of the Immortals or Devas") located on the south bank of Narmada River on the mainland.   Location   It is situated in the Mandhata city (also known as Omkareshwar) in Khandwa district of Madhya Pradesh state in India. I...
vivekchaturvedi2305

Coronavirus Effect on World

Image
Hello Everyone My Name is Vivek Chaturvedi . I am writing a vlog about  Coronavirus Effect on World. The effects  of Coronavirus on economic development of human beings and our country? The COVID-19 pandemic has resulted in over 4.3 million confirmed cases and over 290,000 deaths globally. It has also sparked fears of an impending economic crisis and recession. Social distancing, self-isolation and travel restrictions have lead to a reduced workforce across all economic sectors and caused many jobs to be lost. Schools have closed down, and the need for commodities and manufactured products has decreased. In contrast, the need for medical supplies has significantly increased. The food sector is also facing increased demand due to panic-buying and stockpiling of food products. In response to this global outbreak, we summarise the socio-economic effects of COVID-19 on individual aspects of the world economy. Labelled as a black swan event   and likened to the economic...
vivekchaturvedi2305

Martyrdom of Guru Arjan Dev Ji

Image
Hello Everyone My Name is Vivek Chaturvedi . I am writing a vlog about    Martyrdom of Guru Arjan Dev Ji.  Guru Arjan Dev is the fifth Guru of the Sikhs. He became the first martyr of Sikh faith and on 16 June every year, the Martyrdom of Guru Arjan Dev is commemorated. This day has been marked to honour him and has been commemorated since 1606. Let us read some interesting facts about Guru Arjan Dev. The true servant of humanity, the protector of religion, the master of calm and grave nature, Guru Arjan Dev, was the well-known public leader of his era. He provides service to the people whole day and night. He had immense respect for all religions. His martyrdom was a significant turning point in the history of Sikhism. 10 Interesting points about Guru Arjan Dev are as follows: 1 . Guru Arjan Dev was born on 15 April, 1563 in Goindval Sahib, Tarn Taaran, India. His father's name was Guru Ramdas and mother's name was Mata Bhani. Arjan Dev’s maternal grandfather "Guru Amard...
vivekchaturvedi2305