About: World Thrift Day

The World Savings Day was established on October 31, 1934, during the 1st International Savings Bank Congress in Milan, Italy. The Italian Professor Filippo Ravizza declared this day the "International Saving Day" on the last day of the congress. In the resolutions of the Thrift Congress it was decided that 'World Thrift Day' should be a day devoted to the promotion of savings all over the world. In their efforts to promote thrift, the savings banks also worked with the support of the schools, the clergy, as well as cultural, sports, professional, and women's associations. Representatives of 29 countries wanted to bring to mind the "thought of saving" to the worldwide public and its relevance to the economy and the individual. The World Savings Day is usually held on October 30 except in countries where this day is a public holiday, since the idea is for the banks to be open, so that the people are able to transfer their savings into their account.