Piggy bank $$

My daughter keeps saving money in her piggy bank so that she can put all of it in the bank and one day buy her own car! Seriously, she is obsessed with that idea ever since we bought our new car. And I do encourage her to count the money when it is time to go to the bank and made a deposit. I do use my account but keep a note of how much money has been put in. And when it reaches a sizeable amount, I open an Fixed Deposit in her name and transfer all the money in that. And ofcourse, whatever money she receives for her birthday and on special occasions too go into that account. I have been doing that since her birth and she does have a tidy sum now. I know it would be hers when she grows up and I will give it to her to use as she wishes. (But not before she is 21 years old) I do allow her to take small amounts from that and we go to the shop together to buy something of her choice. But it is rarely done.

A couple of weeks ago, my husband and I were looking for a piggy bank for my 4 year old son. I was looking for a reusable one, where once it is full you don't have to destroy the whole piggy bank just to get the money out. Unfortunately, I didn't find anything like that. I think it is the right time for my son to know more about saving. Specially now that he is familiar with our currency because they already learned that in school. And once it is full, I want to open an account for him where all money he has saved and money he received as gifts will go to. But first, I really need to find a piggy bank soon.

i used to have a piggy bank as well when i was still a child and even until now... my parents had always taught me to save since i was a child and be wise when spending money... and i learn about that until now... i always try to spend at least 20% of my salary for rainy days... take care and have a nice day...

My two children are a bit beyond the piggy bank stage. When they were younger i encouraged their saving. A little motivation and incentive was always needed. they were more worried about spending than saving, but they did manage to learn the concept.

hello mermaid! sounds like you love mermaids huh?^_^ hmmm,regards your topic, may i ask first is that your son with you in your profile picture? if it is, he's still a baby and you are practicing him to learn that way? Well, anyways, he can grow old so, I guess he's gonna learn about it anyway so why not teach him while still a baby, right? As a child, I always do have coin banks for me to save money. but then, it always being left empty cause my parents and siblings knew i had money so they don't always give me one. until I get older, this became the habit. It's like as if i always had money, so they keep on asking it from me. when in fact i am saving it for myself in the future. this really is unfair to me. and now i am jobless but still they ask money from me and never even give it back. if you are in my situation how would you feel then? too bad right?

I had piggy banks for both of my kids and our bank was offering a children's savings account. So when my kids were 7 and 5 we took them to the bank each of my kids opened their own account. Both of them had over $200 in each piggy bank and it was cute because they received a bank book statement each with their names and my daughter mostly was very happy because she understood the savings aspect part of it.

Dear friend, I do keep a piggy bank, I had this habit form childhood. This time I mostly use for giving to the worship places. But my main piggy bank is bank of India. May this type of saving would help people to have a saving tendency.

Well I need all the money I can get so I dont give my kids my change to fill their piggy banks. When my daughter loses a tooth I usually give her 50 cents and she puts it in her piggy bank. Her father used to give her change for her piggy bank pretty frequently. I will give her a few cents now and then but not very often. When we are shopping if I see change on the ground I will tell my kids to pick it up and then they bring it home to add to their piggy banks. It takes a long time to fill up those piggy banks. My daughters is really pretty big and I told her she can spend half of the money in it when the piggy bank is full. I told he she can spend the half on anything she wants but the other half has to be saved for when she is older.

It's nice that you have started teaching your child about finances at a young age. My daughter is coming to five years old and I intend to teach her a little bit about saving. But it is important that you also teach them about spending money and also giving to charity. If they cultivate these habit from young, they will bring it with them when they are older. I intend to segregate her piggy bank money into three components - savings, spending and charity. So whenever she receives some money (red packets or whatever), she will allocate money according to the different compartments in her piggy bank. If she likes something she sees at the store, she can see if there is enough money in her spending account to get it. If not, she will have to save more for it. You can teach them how to invest with their savings money a little later. At the same time, your child also learns about giving to charity and helping the less fortunate. Whenever there is a request for donations, your child can get their money from the charity account and give. I think it is important to not only teach kids to save, but also to spend within their means and give to charity.

for me it is good to have it so that you find ways to have money by keep it i the piggy bank but watch up the thief who inter your home it is there friend.

We have a piggy bank in our household. Every time I've been shopping I put the dimes there. Once a week we count what's in the piggy bank. It's amazing how much it becomes. My daughter, 11 years old and I have decided to spend them on something special when we've reached the amount for it. My daughter also get pocket money and she get a few coins when she has helped me with some special chores. She saves parts of it and spend the rest on anything she like.