The First International Thrift Congress was held in Milan, Italy from 26 to 31 October 1924.  It was attended by over 300 delegates from 27 countries, who shared a vision: to promote savings as a key to financial security and independence. This was a period following the First World War which was marked by financial instability, and loss of confidence in banks. Banks were adopting a variety of measures and incentives to encourage people to deposit savings in banks in order to secure some stability for future uncertainties. In fact the word savings itself originates from the early 14^th century, symbolizing ‘salvat’ a way to protect oneself from life’s uncertainties.  

On the last day of the conference one of the organizers Professor Filippo Ravizza proposed that there should be an annual International Savings Day or Thrift Day, as a reminder of the importance of saving, and to foster the habit of saving. It was unanimously agreed that this should be marked on 31 October. The informal symbol chosen to represent World Savings Day was the piggy bank.

Over a hundred years later, World Thrift Day continues to remind about the value of saving. Taken in a broader context, the word ‘thrift’ implies more than just accumulating coins in a piggy bank, or money accrued in savings accounts and deposits in banks. It refers to the prudent management of one’s resources. It is the opposite of extravagance and waste. It encompasses the philosophy and practice of moderation, conserving, and economizing.

Perhaps there is no better example of a life led by these principles than Mahatma Gandhi. For Gandhiji thrift was not just a habit of saving money; it was an ethical and philosophical principle which guided every aspect of his life. For him, the most direct application of this was in the frugal use of resources in one’s daily life. While his own lifestyle reflected this in every moment of his daily routine, he also expected that the people who lived in his ashram do the same.

There are several anecdotes recalled by his colleagues and ashram inmates that illustrate this.

Kishorelal Mashruwala started working with Gandhiji from the time that Gandhiji returned to India from South Africa, and continued to be closely associated with him for the rest of his life. He recounted some incidents.

‘One of my young nephews lived with me at Sabarmati. He once tore his clothing during play and then went straight to Bapu’s room. Bapu saw the torn condition of the cloth, and when he saw my wife later he showed his displeasure at it. He said: “One need not be ashamed of clothes repaired with sewing or patches. Poverty in itself is not a matter for shame. But there is no excuse for a person to put on unmended or dirty clothes. A cloth must be repaired as soon as it is torn, and washed if it has become dirty”.

It is well known that Gandhiji never threw away a used envelope or telegraph form that was blank on the reverse. He would collect these and convert them into scribbling pads, to be used on the day of his silence, or to write drafts of his articles and important letters, or, sometimes, to write notes to be left for others, or sent to them. Mashruwala recalled this: ‘I may also mention a habit which I developed under his influence. It is that of preserving and using bits of paper written on one side, wrappers on book-post packets etc., and used envelopes. Perhaps the instinct of thrift was inherent in me, and it got encouragement by his example.’ 

Kamlaben Patel came to stay in Sabarmati Ashram with her father when she was a young girl. Every inmate was expected to participate in all tasks from cleaning, washing, cooking, and spinning; and every resource was to be used with respect and frugality. She recalled one incident.

‘One day Bapu was passing by the store when the goods were being unloaded. He stopped and enquired how much soap had come. The soap that we all used was round and white but hard as stone, and the cheapest one that was available. The next day after the women’s prayer Bapu enquired about how much soap was used by each family. From their replies it was calculated that the cost of soap for each person was from 75 paise to one rupee. Bapu proposed that the use of soap be reduced. The women frankly told Bapu that any reduction in use was not possible as the soap was used to wash thick white khadi clothes, sheets, pillow covers, and mattress covers. Bapu said that “you all know that the Ashram runs on the donations of people. We claim to be servants of the people. Three hundred people live in the Ashram, and if each one used one rupee worth of soap, what will our donors feel about 300 rupees being spent on soap every month? Even in the days when there was no soap, our clothes were clean were they not? You must consider reduction in soap use.” After a lot of discussion the women agreed to use 50 paise worth of soap each month. Bapu proposed 37 paise. The women said they would respond after more thought. The prayer meeting dispersed. The women reconvened and after considering all options, unanimously decided to inform Bapu that it was not possible to do with less than 50 paise worth of soap per person, and remain firm on this decision. After the prayer Bapu jokingly said that the women’s ultimatum was like the Viceroy’s ultimatum. He would go to Bardoli to provide an answer to the latter, but he bowed to the women’s ultimatum, and accepted their 50 paise demand.’ 

These insistencies may seem as if Gandhiji was bothering over trifles, but for him such thrift was not simply a habit of saving money, but a practice of core principles connected to self-sufficiency, non-violence and social justice.

He believed that self-sufficiency through Swadeshi was not just an economic protest against foreign goods but a practical lesson in self-reliance and dignity of labour.  He emphasized the respect for resources (material and human) that went into creating any product. He believed that wasting or careless use of any product was to disrespect the person who made it.

These were some of the pillars of Gandhiji’s concept of ‘trusteeship’, a principle that suggested that rich individuals should not see their wealth as their own to squander but as a trust held for the benefit of society, especially the poor. He believed that wealth beyond one’s basic needs should be used for the public good. 

Gandhiji believed that genuine happiness lay in contentment, not in endless satisfaction of demands. He encouraged individuals to voluntarily reduce their wants, arguing that this would lead to a more satisfying life and a more peaceful society.

These ideas are best summed up in Gandhihji’s maxim that ‘The world has enough for everyone’s need, but not for everyone’s greed’. He believed that the world naturally produces enough to satisfy the needs of every person, but insatiable wants lead to exploitation and environmental ruin.

World Thrift Day is a thus not simply a reminder of saving for a rainy day, but a promotion of a way of life that values and respects all resources and their wise use.

–Mamata