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Greater context
In many countries, children take their savings to their bank on October 31st and receive a gift in return. And after years of zero interest rates, it’s finally about interest on savings accounts again – even if times remain difficult for savers with high inflation. In any case, World Savings Day should be seen in a larger context: it symbolizes teaching children the value of money. By putting some of their pocket money aside, they learn to divide it up. In times when the average debt of insolvent individuals is 97,500 euros, it doesn’t hurt to convey early enough how important it is to have an “emergency fund” on hand in the event of a broken washing machine.
Dusty folklore
Anyone who asks children and young people what takes place on October 31st will not hear “World Savings Day” as the answer. Ringing the doorbell of someone else’s door for sweets has long since replaced visiting the bank branch: no wonder when the yield is more generous. For our parents and grandparents, World Savings Day was once a high mass celebrated, but their enthusiasm has also fallen parallel to the savings interest rates. What was left was the disillusionment that apart from a ballpoint pen or a pocket calendar there wasn’t much left to pick up. Anyone who wants to save and can do so even in times of high inflation now stays informed about it all year round. World Savings Day is no longer needed for this: it has degenerated into a pure marketing campaign.
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David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
