World Savings Day: How People Save Money Around the World

Today is International Savings Day: how people save in different countries

Every year on 31 October, International Savings Day, also known as World Savings Day, is celebrated in various countries around the world. The day was established on the initiative of representatives from credit institutions in 29 countries, who gathered in Milan in 1924 for the First International Congress of Savings Banks. It was granted official status in 1989, when it was enshrined in a UN directive.

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In Moldova, this day – intended to remind the public of the importance of financial literacy, budget planning and the prudent use of resources – is ‘celebrated’ almost every day. This is not without the help of financial authorities, which run financial literacy programmes for the public funded by foreign partners. However, no research has yet been carried out into what Moldovans are accustomed to saving on.

In 2026, this day takes on particular significance: against the backdrop of a changing economic situation, consumer habits are also changing across the globe.

From savings books to saving water: how people save around the world

Approaches to thrift vary across cultures, but the general trend is towards optimising expenditure:

Germany: Germans remain among the leaders in Europe in terms of savings, consistently setting aside 10–15 per cent of their income. In their daily lives, they prioritise energy efficiency: they use off-peak electricity rates for household appliances and minimise their utility bills.
United Kingdom: Here, thrift is closely linked to environmental consciousness. The British are renowned for their pragmatic approach to water and electricity consumption, preferring to keep a close eye on every detail of their household expenditure.
France: The French demonstrate a rational approach to shopping. Local consumers plan major purchases strictly during seasonal sales and make active use of vouchers and loyalty schemes.

New savings trends in Russia

In Russia, International Savings Day in 2026 is being marked under the banner of ‘smart consumption’. According to recent research, the public’s focus has shifted from impulse buying to long-term planning:

Replacing major purchases with repairs: Instead of buying new household appliances and electronics, Russians are increasingly opting to repair the devices they already own.
Smart shopping: The popularity of retailers’ own-brand products is growing, as they allow consumers to avoid overpaying for brand names.
Conscious planning: Strict family budget planning has become the norm, along with avoiding spontaneous visits to cafés, setting a weekly meal plan and cutting back on non-essential services.
Temporary avoidance of long-term loans: Due to current market conditions, a significant proportion of the population is consciously postponing the purchase of property and cars until a later date.

Experts advise: where to start?

Financial analysts point out that saving should not be associated with strict restrictions or a lower quality of life. The main aim of International Savings Day is to encourage the adoption of sound financial habits.

Experts recommend starting with three simple steps: setting up automatic transfers of a small percentage of each income into a savings account, reviewing regular subscriptions, and reassessing daily household habits to prioritise energy saving.

This story was translated with the assistance of artificial intelligence.The translation was also reviewed by the Logos Press editorial team.

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