Did you know that we have an event called World Savings Day? Is it just me who doesn't know that event exist? Especially for someone who plans to write about finance this event is something worth researching and spreading. To raise awareness as there might be some people who is not aware of this event I decided to host a mini contest.

First let us discuss what is World Savings Day?

The World Savings Day was established on October 31, 1924, during the 1st International Savings Bank Congress (World Society of Savings Banks) in Milano, Italy. The Italian Professor Filippo Ravizza declared this day the "International Saving Day" on the last day of the congress. - Source

It is said that time, majority of people are keeping money under their mattresses and not using banks to save their money. Still it happens, but rather than keeping it under their mattresses people are using coin banks, drawers or even used plastic bottles which is known as informal saving type.

In our country, the Philippines according to the Financial Inclusion Survey Report 2019 Almost half of the Filipinos asked 53% reported that they have their savings formal and informal combined and 47% said that they do not have one. Still the majority of the savers asked stated that they do use the "informal type" vs "formal".

As time goes by, not only the Philippines but the whole world an increase of people who save is increasing. One of the key factors that is the usage of mobile wallet apps. Creating a savings account became easier compare to the previous years wherein you would need to provide such documents. Now, at the tip of your finger, without leaving your home and falling in line you can create your own.

The popularization of cryptocurrency like Bitcoin, Ethereum, Hive etc. is also one of the factors that increased the "saving population".

For the mini-contest

In line with the theme this year of World Savings Day When you save a bit, big things follow."

How Savings Give Your Life a Lift?

I'll be accepting entries until the 30th of October PH time and will announce the winner the next day after.

First Prize Winner - 10 Hive

2nd Prize Prize Winner 5 Hive

3rd Prize Winner 3 Hive

4th Prize Winner 2 Hive

5th Prize Winner 1 Hive

You can just drop the post link in the comment box so that I can have it counted as an entry.

Hoping that you will be joining on this contest and help spread awareness of the said event.

P.S. I know the prize amount offered is really small, this is the only budget that I can spare in the meantime. If you are planning to sponsor for the prize just leave a comment too. More folks joining the better engagement.

Image Credits

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