The first International Savings Bank Congress, held in Milan, Italy, on October 31, 1924, established this date as World Savings Day, based on a proposal by Italian professor Filippo Ravizza, aiming to promote a culture of saving among the general public across different countries. The day encourages individuals, especially young people, to adopt responsible financial habits through regular saving and long-term financial planning, as a means of achieving personal economic stability and preparing for unexpected financial emergencies. It also highlights the role of savings banks and financial institutions in supporting financial inclusion, particularly in lower-income communities. Banks and financial institutions in many countries worldwide, particularly in Europe and Asia, hold annual events and awareness campaigns targeting schools and families, including educational workshops on money management basics and promotions for savings accounts.