“Health is Wealth”, but in today’s world wealth is essential to safeguard your health. Little drops make an ocean. Small saving gives wheels to nation’s economy.”
World Thrift Day is celebrated every year on 31st October worldwide to promote savings and financial security of individuals and the nation.
World Thrift Day was established to inform people all around the world about the advantages of saving their money in a bank rather than keeping it under their mattress or at home.
SIGNIFICANCE
The day reminds us of the importance of consistently saving to have a safety net. With such consistent savings, we can guard against unexpected risky events. Savings can also help us in achieving our goals such as starting a business, getting good education, healthcare treatments or owning a home etc.
HOW IS WORLD SAVINGS DAY CELEBRATED?
The day is celebrated in different styles in different countries. However, the focus remains the same everywhere i.e. educating people about the significance of saving money.
World Thrift Day is celebrated in a variety of ways including the following.
- Distribution of brochures, leaflets and posters to masses emphasizing the importance of thrift/saving.
- Press articles and educational films are employed to highlight and promote savings in many parts of the world.
- In schools, saving campaigns are organized as part of World Savings Day celebrations, as it is very important to inculcate this habit in children since beginning. These campaigns will make children aware of the benefits of saving money and how it can help them in future.
- Money boxes and savings account passbooks are distributed amongst the children. Information is shared with the school children about the importance of savings in their life.
HOW HEALTH MAKES WEALTH?
- Healthy lifestyle can promote wealth.
- Improvements in health can reduce health expenditure.
- Increased savings can avoid debts and relieve stress.
- Saving gives mental security as well as social security.
- Saving can lead to a positive attitude to lead a longer life.
- Healthy lifestyle reduces the risk of many life-threatening diseases like heart attack, stroke, cancer and others.
- Always take Medical Insurance.
HOW CAN WE SAVE MONEY?
- Start by controlling your expenses.
- Make a budget.
- Spend wisely.
- Buy only necessary and essential things. Distinguish between the ‘need’ and ‘greed’.
- Be self-reliant.
- Cut short your electricity, water and other bills.
- Set your goals for savings.
- Make wise investments.
IMPORTANT POINTS TO REMEMBER:
- Savings is a safeguard against risks like illness, unemployment, and other economic hardship.
- Your small saving contributes to nation’s development.
- Systematic saving and investments provide good returns.
- Saving helps in preserving the environment by preventing wastage.
- Open your saving account with a post office or any bank anywhere in India
CONCLUSION
World Savings Day is an event created to increase public awareness of the importance of savings both for modern economies and for individuals alike. The focus of this day is on the importance of savings in the global economy and how every depositor contributes to its development.