Piggy Bank Vs. Real Bank

Discussion in Savings & Investments Plans started by bomb2060 • Jul 5, 2017.

  1. bomb2060

    bomb2060Member

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    Well, today i will share my real life experience. Just happened a while ago. Am still in shock.
    I have been saving in a piggy bank in my house for close to two years now. It was a big piggy bank, custom made for me. I bet i had saved over $500 in coins and notes.

    This morning i had the biggest shock i have ever received! I went to throw in a coin as usual and alas!! The piggy bank was missing. I tried to search for it for hours. Nothing.

    To cut the long story short, i was informed that my 3-year-old daughter, now in school, was playing with it!! Wow!
    Most definitely she went out with it and someone took advantage of it.

    If your piggy bank is not latched or chained strongly in The House, then it's not the best saving method. I have learnt it the hard way!
     
  2. kamai

    kamaiActive Member

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    I am sorry for what has happened, I wonder how much you had saved in that time period. I bet that person who took it really enjoyed it or maybe it was someone in need. Who knows maybe all this helped a good cause. Yes you are right though having a piggy bank at home might not be the best saving methid unless one keeps it somewhere secure.
     
  3. Jasmin Cottontail

    Jasmin CottontailActive Member

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    Wow that's really harsh :( I do save some coins in my secret stash at home and whenever I reach a certain amount, I put it in the bank. Saving in a piggy bank works for me and I believe it will also work for most people as long as you keep it safe and secure to prevent such things from happening. If I was able to save even a hundred bucks on my piggy and this happens, I would be totally heartbroken :(
     
  4. Jamille

    JamilleActive Member

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    Piggy banks are simply for keeping small stash of money/coins. You can't trust it to keep your money safe for a long time specially if it's easily available to everyone, including kids. With that amount of money, I would have deposited it in the bank to at least earn some interest. I have this small tin can where I put some coins every New Year. Although it doesn't have that much money in it, I still keep it in my safe for next year's celebration. I don't want that small amount of money to tempt the nanny or be visible to uninvited guests.
     
  5. Ray1

    Ray1Well-Known Member

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    I have a piggy bank but I do not use it for saving. I generally put all my lose coins in this box and exchange them for bills once the box is full. In fact, I do not see any real purpose of piggy bank for myself and our schools provide the facility and encourage children of depositing money in real banks by having a banking day every week. The schools even offer a surprise gift after every 10 deposits and they accept deposits beginning 50 cents.
     
  6. harijobs

    harijobsActive Member

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    I am really sorry my friend for what has happened. I hope the money has been spent for something good but don't worry about that. Having a piggy bank is a good thing but we have top be careful. In our house, my mom is the one who has access to my piggy bank and she uses that money when she really needs that and in an emergency. Otherwise, nobody touches it except me.
     
  7. Zero

    ZeroActive Member

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    I wouldn't advise anyone to use a piggy bank instead of a real bank in any situation since you can lose your savings in a robbery, fire.
     
  8. luri

    luriActive Member

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    Piggy bank is for storing currencies of small denomination. I will never throw $100 bank note into the piggy bank. Real bank is for saving big money. Piggy bank comes handly while saving little, however, you should always use bank to save money. A good way to do this is save money on piggy every day and at the end of the month, take all the money out and save in the real bank
     
  9. bomb2060

    bomb2060Member

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    Very true, i learned a bitter lesson. I'm now considering buying a safe. And keeping the piggy bank inside.
    I have selected a safe that is also fire proof. Just some extra safety in the event something of that kind happens.
    But on the positive side, my daughter now has some saving skills. She knows if she picks any coin from outside or anywhere within the house, it should go to the piggy bank.

    The latest lesson that she has learnt, is that daddy's love for the piggy bank ranks 3rd after her and her mother!!
     
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