"About the time we can make the ends meet, somebody moves the ends." Herbert Hoover
"The World Savings Day was established on October 31st 1924 during the 1st International Savings Bank Congress (World Society of Savings Banks) in Milano/Italy. The Italian Professor Ravizza declared this day the "International Saving Day" on the last day of the congress."
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 31st 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.
How can this holiday be celebrated?
• Celebrate by having a "Savings Party!" Come up with a plan to save for the future. Research your options and set yourself some goals. You'll feel good when you do.
• Teach the kids the importance of putting a portion of their allowance in a piggy bank. Start a good habit at a good age.
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Definition of Saving Money
Saving is the conservation of money. Methods of saving include putting money aside in a bank or pension plan. Saving also includes reducing expenditures, such as recurring costs. In terms of personal finance, saving specifies low-risk preservation of money, as in a deposit account, versus investment, wherein risk is higher.
"Saving" differs from "savings." The former refers to an increase in one's assets, an increase in net worth, whereas the latter refers to one part of one's assets, usually deposits in savings accounts, or to all of one's assets. Saving refers to an activity occurring over time, a flow variable, whereas savings refers to something that exists at any one time, a stock variable."
Economy in History
"According to Herodotus, and most modern scholars, the Lydians were the first people to introduce the use of gold and silver coin. It is thought that these first stamped coins were minted around 650-600 BC.[6] A stater coin was made in the stater (trite) denomination. To complement the stater, fractions were made: the trite (third), the hekte (sixth), and so forth in lower denominations."
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November 5 is U.S. National Savings Day
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