The Central Bank of Cyprus (CBC), in collaboration with the Education Ministry, will hold an educational event on November 10 to mark World Savings Day, celebrated globally on October 31.
The event, which will take place at Nuevo Campo in Latsia, will begin at 8:30am and is designed to raise awareness among primary school pupils about the importance of saving and financial responsibility.
According to the CBC, the programme will include four thematic workshops aimed at sixth-grade pupils from schools across all districts.
These workshops will be led by secondary school teachers and trainers from Junior Achievement Cyprus, an organisation with extensive experience in delivering financial education and entrepreneurship programmes to young people.
The initiative seeks to encourage children to understand the value of saving from an early age, equipping them with the tools and mindset needed to make sound financial decisions later in life.
World Savings Day, also known as World Thrift Day, was first established in 1924 during the International Savings Bank Congress in Milan, Italy.
The purpose of the day was to promote the habit of saving money as a means of achieving both personal financial security and economic stability at a national level.
Since then, it has evolved into a global movement that promotes financial literacy, responsible spending, and the benefits of regular saving habits.
World Savings Day is officially observed every year on October 31, though in some countries, it can be celebrated earlier.
The observance serves as a reminder that even small savings can lead to significant financial progress, whether through setting aside coins in a piggy bank or automating regular deposits into a savings account.
In today’s climate of economic uncertainty and rising living costs, cultivating a saving habit is more important than ever.
Savings act as a financial safety net during emergencies, enable investments in education or property, and support long-term goals such as retirement.
World Savings Day also highlights the role of education in shaping financial behaviour from a young age.
Across the world, banks, schools, and institutions organise workshops, competitions, and awareness campaigns to inspire both adults and children to think about their financial futures.
The CBC’s collaboration with the Education Ministry aligns with this global effort to promote financial literacy and responsible money management among Cyprus’ younger generation.
The initiative aims to strengthen the culture of saving and financial planning in Cyprus, helping to build a more financially aware and resilient society.
