Save Through Piggy Bank

Discussion in Savings & Investments Plans started by Decentlady • Dec 21, 2016.

  1. Decentlady

    DecentladyActive Member

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    Many a times, we neglect the role of coins when considering money. We tend to think coins are too petty and fir children. However, sometimes they become so useful that you can actually pay a bill.

    It is useful to have a piggy bank Handy. Whenever, there is excess change/coins lying around can be put in. The collected amount can be used for petty payments.

    Do you still use a piggy bank to save?
     
  2. Binu

    BinuActive Member

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    When I was a child, used to save coins as well as small denomination bank notes in a piggy bank. I used to break my piggy bank when I needed money to guy gifts for my friends or siblings. These days I still use piggy bank, however, I use piggy bank only to store coins. When the piggy bank is full I break it. I donate half of the coins to the beggars and remain half, I use for religious purpose.
     
  3. ptahm22

    ptahm22Active Member

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    The piggy bank is like a tradition in my family. My dad taught us how to use them and I've been saving with since I was five years old. The change I get in coins I save them in the piggy bank. I open my piggy bank after every six months and save the money in my bank account.
     
  4. Jamille

    JamilleActive Member

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    I used to have them when I was a kid but I have since learned to set aside some money as savings and to spend the rest for necessities and whatever else. Coins aren't just for kids as we need them to pay for small bills, purchases, or local transportation. There were occasions when not having coins in my purse have actually forced me to buy something just to have some coins to pay for a local transport vehicle. Hence, I try to keep some of them in my purse.
     
  5. Jasmin Cottontail

    Jasmin CottontailActive Member

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    I also have piggy banks when I was a child and yes it helped me save money. I normally save some coins everyday no matter how much that would be as long as they are coins, and I don't open it till Christmas. Then after Christmas, I will be saving another one for another year :) When I grew up, I overlooked this attitude and I wonder why since it helped me a lot especially when I would like to buy something for myself or as a gift to someone. I'm thinking of doing this again though :D
     
  6. Nakitakona

    NakitakonaActive Member

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    I belong to a poor family. My late father was only earning a meager salary to fed three of us. In that case, I was compelled to have my own way of saving for the rainy days. Since I couldn't afford a piggy bank, I used a part of bamboo for my coins bank. I got enough coins saved after a year when I broke. I love doing it for I could buy things which I have to own like clothes, pair of shoes, and toys.
     
  7. luckycharm

    luckycharmActive Member

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    Yes, in my childhood I did use them a lot. But nowadays I keep two of them for my kids. It is good to nurture a habit of saving money in kids. They could accumulate good amount of money from their savings which was used at the end to buy some drawing materials for them. They were very happy with a sense of accomplishment.

    I think we can also use it to put some hard cash every day and when it is full we can have handsome amount which could be used to buy costly items.
     
  8. moondebi

    moondebiActive Member

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    It reminds me of my hobby of buying a piggy bank each time from the local fairs. I seldom had used them, but had a really cool collection.
    However, pennies are powerful, especially when you need to give a change. I do keep them in a separate containers whenever I feel that they are making my purse heavy.
     
  9. Jessika

    JessikaActive Member

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    Yes, we use a piggy bank. It is a very useful place to put our spare change, and eventually it will build up to enough to help with the shopping or pay a quick bill if someone comes to the door. What I don't understand is these one-use piggy banks for £20 that are now on sale, that you have to smash with a hammer to get your change out. It just seems like a waste of £20, since you can't refill it.
     
  10. kamai

    kamaiActive Member

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    I collect coins in a jar which I count by the end of each month to pay up a bill or two depending on how much was saved. I think it's a good idea to do so as we can see the value of coins we usually take for granted. Every coin counts on the long run and it's great to see them accumulate and see how useful they can be.
     
  11. to7update

    to7updateActive Member

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    Just last week I took both piggy banks from my kids to a bank and opened a bank account to them. This bank was clever though, as it offered really cute piggy banks for them to continue saving money at home. From a certain point on we need to spend what's in the piggy, or take it to the bank.
     
  12. to7update

    to7updateActive Member

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    Well, it's not a new idea haha, but it's still a valid one. In reality, not many kids or adults still use them, it's more a symbol of the past, as these days most kids have bank accounts, and they don't use their piggy banks. It's rare that my kids use theirs.
     
  13. harijobs

    harijobsActive Member

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    Yeah, I still use a piggy bank to save the coins as I believe little drops make an ocean, so those little coins that we save from time to time will become a big money one day and will be definitely useful.
     
  14. luri

    luriActive Member

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    I remember saving on a piggy bank when I was a child. During my teenage years I always needed money, therefore, I could not even save a coin in my piggy bank. I stopped saving in piggy bank when I began to make money myself that was when I was in college. Instead I began to put money in the bank. I had a saving account where I used to keep my money. Piggy bank is a good saving option when you are young. However, even when you are old, you can save your coins and small denomination bank notes on piggy bank. I remember when I broke my piggy bank last time, I had enough money to buy a LED TV.
     
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