How Piggy Banks Can Teach Your Children To Save


A cake made to look like a face

Piggy banks are slowly going out of fashion. If you google for “piggy bank” and look at images you will be able to see what one looks like. However, nowadays, parents are taking piggy banks more seriously because they have realized the utility and importance of piggy banks to teach children how to save money. Learn how using one can greatly help your kids save!

Firstly, What Is A Piggy Bank?

How Piggy Banks Can Teach Your Children To Save
How Piggy Banks Can Teach Your Children To Save

A piggy bank is not just a storage box for hundreds of dollars. It symbolizes the essential habit of saving money. Putting a coin or two in a piggy bank has been fun for most of us in the olden days. It is a money box that is a plastic or pot representation of a pig with a slot in the top for saving money.

It Teaches Children The Value Of Money

One of the most effective ways of parenting is teaching your child the value of money. Saving money is an essential skill you need to have in your life. Buying a piggy bank for your kids at an early age and encouraging them to fill it up with money can inculcate great saving habits in your children.

Extra Allowance Money Can Be Stored In Piggy Banks

Ask your children to drop the coins or currency notes received as blessings from their aunt, uncle, grandparents, etc. into their piggy banks. Even if they are young, start budgeting for your kids. The best thing they can throw into a piggy bank is leftovers.

You Don’t Need Fancy Piggy Banks To Store Money

One can even use a coin jar, which I suppose is the same thing. I use cash for a lot of my minor spending, so the loose change tends to mount up after a while. Every few days I put it all in my coin jar, then once a year or so count it out and take it to the bank to put in my savings account. As a rule, I usually end up with a couple of hundred dollars. Not a massive amount, but worth having, especially since you don’t miss the small change. Here’s a cute piggy bank you can use to store your cash. It won’t break your bank literally!

How Piggy Banks Can Teach Your Children To Save
How Piggy Banks Can Teach Your Children To Save

The Money Builds Up Over Time

Your kids won’t save much initially, but it does add up over time. We recycle and all the money we get from the recyclers goes into one can. All loose change, except for one of each coin we keep in our pocket goes into another can. The pocket change usually grew to over 150 bucks a year, and the recycle money often hit over 300 bucks a year. That’s pretty good!

How Piggy Banks Can Teach Your Children To Save
How Piggy Banks Can Teach Your Children To Save

Your Kids Can Get A Treat With The Saved Up Money

We go out to a nice dinner twice a year on the pocket change, and we keep the remainder plus the recycle money and put it in the bank. In about five years the deposits have crossed the 1k mark. Can’t count the interest it is so low, around a penny a month.

It’s a great way to save considering if your kids didn’t have it then they would’ve spent the money most likely on something they didn’t really need!

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