Many parents, especially those who are suffering with financial difficulties, find it difficult to teach their children how to save money each month and why it is vital to do so.
Finally, for money management, your children are likely to imitate your actions and habits. And this could be a wonderful thing or your worst nightmare, depending on your financial philosophy.
Teaching your children good saving and spending habits at a young age will increase their chances of becoming financially savvy adults.
Some people assume that using a piggy bank is an outmoded method of saving money, but they are still effective teaching tools for youngsters.
We all know that the $20 we saved by putting coins in an old bottle will not pay the mortgage or offer a vacation fund when we’re grownups.
To children, though, that money is the key to getting the toys they’ve always wanted or spending an afternoon at the movies with their buddies.
Children are visual learners, so using a piggy bank to show (rather than tell) how money builds over time is ideal.
By simply looking at numbers, young children cannot fully comprehend what money is and how it works, but cold, hard cash is a different story.
Let’s answer a few questions in this article.
What Are Piggy Banks?
The usual name for a coin container made use by youngsters is a piggy bank (also known as a penny bank or money box).
Collectors refer to the piggy bank as a “still bank,” as opposed to the “mechanical banks” common in the early twentieth century.
Companies frequently use these goods for promotional purposes.
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At What Age Should Children Have Piggy Banks?
While a piggy bank can be got at any age, you should not allow them to handle the money until they have passed the age of putting everything in their mouth.
The best piggy banks come in a variety of sizes and styles to suit children of all ages. Most piggy banks are appropriate for youngsters aged 3 and up.
Is It Good To Save Money In Piggy Bank?
According to a financial adviser writing for USA Today, a piggy bank might help you break your goal down into digestible chunks.
He thinks it’s an excellent reminder of the need of saving regularly. Even a significant purchase, trip, or other expense becomes far more realistic when broken down into modest daily goals, he says.
How Much Money Can A Small Piggy Bank Hold?
Banks usually only hold enough cash in the vault to cover their expected transaction needs.
Smaller banks may only keep $50,000 or less on hand, but larger banks may keep $200,000 or more on hand for transactions.
This surprises many people since they believe bank vaults are constantly full of cash.
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What Are The Importance of Piggy Banks?
Helps to Organize Loose Change:
When you go shopping, you may lose all of your change beneath the sofa, in your car, or under your pillow.
A piggy bank is a great way to keep track of your loose cash. You can also conserve the amount of money that is squandered regularly.
One of the most important things you can do for your children is to set goals. What are the most popular purchases made by children?
It could be a bicycle, a video game, or a lovely doll. Make them save every cash they have in order to buy the toy they want.
This would keep them focused on the task at hand. It also shows your children how close or far they are to each other.
Piggy banks are a great technique to teach children in the family about the significance of saving money by setting a good example.
You may not save a large sum, but you end up saving money that they can use to purchase a new toy or video game. This encourages children to save more money, which will benefit them in the future.
Always Encourages You to Save:
Benjamin Franklin once stated, “A penny saved is a penny earned.” For your children, saving should be a major priority.
Saving money must become a habit for your children. Tell kids what piggy banks are for and why they’re important.
A piggy bank is exactly as a foundation for tremendous savings. It’ll definitely assist to inculcate a saving habit in your wards.
What Is The Fastest Way To Save Money In Piggy Bank?
Place the funds in a savings account. If you want to save for a specific purpose, create a separate savings account for it.
Nickel and dime yourself to fatten up your piggy bank if you save your tiny change. Begin small and work your way up as your budget allows.
What Can One Use For Piggy Bank?
You can use:
- Oatmeal Containers;
- Soda Bottles;
- Large Yogurt Containers;
- Bleach Bottles/Milk Cartons;
- Coffee Tins.
Best Piggy Banks for Kids
Here’s a list of some of the best piggy banks:
1. Pearhead Ceramic Piggy Bank
Allow the iconic piggy to be your newborn boy’s first savings account! This glazed ceramic piggy, which is super cute and just like the one you had when you were a kid, will easily save all the cash in his large tummy.
Pearhead Ceramic Piggy Bank is easy to use and has a large coin slot. It has a smooth construction that makes it a perfect addition to the nursery or kid’s room.
If your little guy is accumulating money in his pockets and drawers, it’s time to get him his own traditional piggy bank!
2. Lefree Digital Counting Jar
Save not only money; keep track of it as well! This Lefree digital coin counter will keep track of every penny you put in.
They equip it with an LCD screen that displays the entire amount accurately and allows users to subtract on removal. Not only that, but it can keep up to 1000 coins and recognize all US currency!
Isn’t it amazing?
It’s one of the best piggy banks for kids and adults since it’s made of high-quality ABS transparent glass, so you can easily keep track of your funds.
It also won’t break when dropped, unlike ceramic money boxes. This computerized coin counter is a must-have if your family enjoys saving money.
3. HmiL-U Panda Stealing Money Bank
Your child will enjoy the money-saving lessons even more after seeing a beautiful panda take the currency away!
This adorable and small little piggy bank provides a unique present for kids and is also eco-friendly.
What makes it even more entertaining is the voice feature, which says “hello” when you place the coin and “thank you” when it takes it away!
It also includes an on/off power switch and can save up to 40 coins. This panda might be your child’s go-to banker if you want them to save money more often.
4. Iefoah Pineapple Coin Piggy Bank
Here’s a piggy bank that can easily function as high-end décor in your home! It will save all those extra pennies in your pockets thanks to its huge coin slot, which adds a tasty and exotic touch (pineapple lovers, indulge!).
They compose it of high-quality ceramic stoneware and has a pineapple pattern that lends a convenient grip to the construction.
And, because it is both luxurious and functional, we believe this long-lasting piggy bank is too elegant to pass up.
5. PHOCAS Pig Money Box
Anyone can now save money with Hamm, the charming piggy from Toy Story! If you’re looking for a plastic piggy bank, this one is a brilliant choice because it’ll endure a long time and is made of high-quality materials.
They may also use this plastic pink piggy bank as a toy, making saving and depositing money a pleasant experience for kids.
It accepts all US monies and has a wide coin slot for an easy deposit, making it a fantastic addition to your kids’ toy tale collection.
The pig head is also removable for retrieving the money, and it has a rubber stopper at the bottom. Still stumped on how to make “saving money” enjoyable for kids?
6. Younion Piggy Digital Coin Bank
They have given your traditional piggy bank a digital and technological makeover! With this transparent and high-quality piggy bank, you can see your kids maintain track of their finances while you keep track of their saves.
Kids may also practice mathematics with the add and subtract choices, which come with an automatic built-in coin counter and an easy-to-read LCD screen. This piggy bank may appear simple and unassuming, but it recognizes and takes all US coins.
Watch as this robust piggy bank transforms into a money saver for the entire family in an instant, thanks to its easy-to-use design that runs on 2AA batteries.
7. Adsoner Cartoon Piggy Bank
A small ATM where your little girl can deposit her hard-earned money! If traditional piggy banks aren’t her style, opt for this large-capacity ATM that not only saves coins but also paper bills.
Simple to use and long-lasting. All you have to do is place the note on the scroll, and the money rolls in automatically, exactly like a slot machine!
This mini ATM has a password feature and can store up to 600 coins and 100 paper bills. It also makes bank sounds.
But it’s the fact that this piggy bank is completely non-toxic and environmentally friendly, making it a perfect choice for kids.
8. LIKE Toy Piggy Bank Safe Box
It gets no more real or enjoyable than this for saving money! This durable and professional-looking ATM will automatically roll in the paper note, just like a slot machine.
In addition, the kids will be required to set a password in order to collect the money, which will help them learn about financial security.
Aside from that, it comes with a fake fingerprint, makes bank sounds, and includes a UV light to check paper notes to make the experience even more authentic for the young users!
Not only that, but it also features a built-in voice clock and alarm, as well as a record of the previous three deposit activities.
Don’t miss out on this small ATM, which is just what you need to urge your kids to save money.
9. Happiness Rocket Piggy Bank
This rocket-shaped piggy bank is perfect for your little astronaut! Give your child this hand-painted piggy bank to encourage them to save money for the next science fair.
This high-quality ceramic figure is glazed for a smooth finish, making it a delightful décor in your child’s bedroom. It helps them track their savings at an early age.
It also has a coin slot for quick deposit and a rubber stopper at the bottom for money removal.
In terms of storage capacity, it is ample and excellent for storing both coins and (folded) paper bills.
10. DomeStar Cute Dog Bank
Prepare to have your heart melted by this beautiful husky-inspired piggy bank. DomeStar Cute Dog Bank is lightweight and made of high-quality plastic, making it a brilliant companion for your dog-loving child or, even better, if you have a husky at home.
Aside from that, the excellent workmanship allows the 3D-designed head and tail to move, and it also features an adorable dog tag!
The dog head, which serves as a playmate for your child while also urging them to save money, is also removable, but only by adults, preventing children from recovering money frequently.
The best thing is that the product is non-toxic and eco-friendly.
Frequently Asked Questions (FAQs)
Why is it called piggy bank?
The piggy bank dates back to the Middle Ages, when pygg, an orange-colored clay substance, was commonly used to make pots and other containers, including those for holding money. The English language then progressed to where “pygg” became “pig,” resulting in a humorous play on words.
Are piggy banks supposed to be broken?
They relate savings to piggy banks. Piggy banks used to be fashioned of porcelain or glass and called for the owner to break them to access the money hidden inside. Many modern piggy banks are composed of plastic and may be easily accessed without breaking.
What is Pygg clay?
Pygg is an orange-colored clay that was extensively used in the Middle Ages as a low-cost material for pygg pots and pygg jars, which were used to keep money. Whether “pygg” was just a dialectal version of “pig” is a point of contention. The name “pig jar” had evolved into “pig bank” by the 18th century.
The list of piggy banks already stated are some of the cutest, adorable and efficient options, as you can always find the one you are looking for.
Whether birthday or Christmas, piggy banks are indeed the best gifts to encourage kids to save early.
So, wait no more! Go, catch a piggy for your little one today!