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Every year, World Thrift Day is celebrated on 31st October around the world. This day is celebrated to promote the importance of saving money. Although this event may not have its presence or popularity around the world but is a very crucial event in today’s time. If you wish to know more about this day and what will be the theme for this year then continue reading this blog.
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World Thrift Day 2023 Theme
Each year, Thrift Day announces a new subject around which the day’s activities are organised. The topic for World Thrift Day in 2023 is “Preparing for the future through saving.” This theme provides a powerful message for everyone who wants to take part in the event. it is very important to budget your finances.
Significance of World Thrift Day 2023
Individuals are required to be more cautious of their income and save it properly for future use. On this, World Thrift Day, only one basic aim will be encouraged among the people – save money for the future.
Here are some of the points as to why World Thrift Day is important and why the message of this day is to be encouraged more.
- A safety net for finances during hard times is provided by savings. It helps us launch a business, get a good education, and access high-quality medical care.
- Savings can ease our financial burden, help us avoid debt, and help us be ready for unforeseen medical costs.
- Banks and non-governmental organisations are key players in helping people discover various ways to save money.
Also Read: List of Best Savings Account for Students in India 2023
World Thrift Day 2023 History
The origins of World Thrift Day can be traced back to the years following World War I. The Italian economist Filippo Ravà made the initial proposal for it during the inaugural International Thrift Congress, which took place in Milan, Italy, in October 1924. Ravà’s objective was to organise a worldwide occasion that would highlight the value of thrift and saving, particularly in hard times.
The idea was well received, and on October 31, 1925, the inaugural World Thrift Day was celebrated. The initial International Thrift Congress was opened on the anniversary of its founding, which is why the date was selected.
Since then, a number of nations have observed World Thrift Day every year, emphasising the importance of thrift in achieving both economic growth and financial stability. It acts as a reminder of the crucial part frugal living plays in fostering both individual and group success.
Also Read: Best Saving Account for Students in India
How Can You Contribute to World Thrift Day?
Here is how the World Thrift Day can be celebrated around the world.
- Children are taught the value of saving money.
- To encourage saving, banks undertake a number of campaigns and promotional events.
- Financial organisations use new programmes and schemes to entice their consumers to save more money.
- Many places hold poster-making competitions to highlight cost-cutting.
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FAQs
Thrifting Day is to promote the habit of savings.
World Thrift Day is celebrated on 30th October all over the world.
Italian economist Filippo Ravà made the initial proposal for World Thrift Day during the 1st World War.
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