Do you have a Piggy Bank
@sreejithsreenivas (10200)
India
March 14, 2013 2:59am CST
I have a piggy bank.If i get any coin as a change i drop it in my piggy bank.I open it only once in a year.On January first i will open and spend it for buying some gift.Mylot is another piggy bank for me.After accumulating 10 dollars,we are getting the payment from them.A penny saved is a penny earned". In today's world, a penny accumulated here and there doesn't sound like much, especially with the cost of living continuously rising, but surprisingly enough you can save money by holding onto that loose change. The key to using a money box or piggy bank to increase your savings is to do something with it once you raise significant dollar amounts.depositing change into your money box can prove lucrative over the course of time, it won't necessarily make you rich, but before you know it you're likely to find your piggy bank having a healthy expansion and this happened without impacting any money you needed to meet monthly expenses. Saving change is a neat way to find money for the "extras" that you normally wouldn't spend money on. A good rule of thumb is to tally your treasure every so often and then go deposit it into an interest earning account to maximize your savings if you weren't waiting to buy something specific. Once the savings deposits funds grow you can find better ways to invest or add to other investments you may have.Plus it's fun to realize you accomplished saving money with little effort. If you have kids, it teaches them the value of a dollar and how saving and not splurging every time they have extra money can yield some nice benefits.
9 responses
@thanks1961 (7035)
• India
14 Mar 13
Hi,
A nice topic! As an added point, also there is a psychological factor behind it. In my case, if there is kind of saving, initially won't pay much attention. But once it grow, I have a tendency to put more on it. I have tested and proved it is true. Once I had such a habit of 'piggy saving', by accumulating bits and pices of conts and small units of currency notes. The ratio was relatively less in the intial few months and when I realised that it is growing and increasing, I become more happy and at the same time the desire to 'add more' become a habit and when I realised that, though it is small, the habit is really good and as you said, we need to influence the children for such habits and they can also make a nice fund after some time if they can concentrate on such savings, instead of simply spending their pocket money for unwanted and waste shoppings.
1 person likes this
@sreejithsreenivas (10200)
• India
15 Mar 13
I think the new generation people find nothing special in piggy bank and savings.But it is our responsibility to aware this.Thanks a lot for the reply.
@thanks1961 (7035)
• India
15 Mar 13
Yes, the new generation, especially the youngesters mostly don't bother of it and that is the reason why we need to make them bother about it, becuase we were not with them for the whole time and once they realise the need of money, it may be little late. A timely awareness can help for a better tomorrow. But regardless of new generation or old, the habit of saving is not a bad idea, it will be a help when it is really required. 'Palathulli peruvellam'.
thank-s
@matija410 (8)
• Croatia (Hrvatska)
15 Mar 13
Hehe i don't have piggy bank. Because I don't know how to earn something.It's hard hehe
1 person likes this
@sreejithsreenivas (10200)
• India
15 Mar 13
Thanks a lot for the reply.Happy mylotting and have a nice day.
@sreejithsreenivas (10200)
• India
15 Mar 13
Thanks a lot for the reply.Happy myloting and have a nice day.
@Raine38 (12250)
• United States
14 Mar 13
I used to have a piggy bank. But I already emptied it out last December. And I haven't gotten into buying another one to save my loose change. I agree with you. Each loose change that we have each day, if we put somewhere daily, in a year it could amount to something. And that amount of money isn't just something that you can get off the streets.
1 person likes this
@sreejithsreenivas (10200)
• India
15 Mar 13
Thanks a lot for the reply.Happy mylotting and have a nice day.
@ArielAhhhh (126)
• China
14 Mar 13
Nope, i do not have one now. It seems that pippy bank is for kids. But my niece gets one and its so adorable but for her, she still has no idea about saving money so most of time it is her mom who put some coins in it.
But using a piggy bank to save every penny is a good habit to get and it can let the kids have consciousness of saving money instead of burning it, this is great.
1 person likes this
@randylovesdar (4932)
• United States
14 Mar 13
Yes I do have a piggy bank and every time I get a roll of coins I deposit it into my savings account. I am trying to build my savings account so I can take a trip this summer. I filed my taxes, but the government is taking their time giving people their returns. I am sorry that your country does not accept coins.
1 person likes this
@ryanong (9665)
• Vietnam
14 Mar 13
NO, i don't have a pig bank. I used to have a pig bank but i always opened it and get money out, the result is i didn't save any money. Later, i opened a saving account, whenever i receive salary or get money, i deposit money to it. and right now i keep doing it as my habit of saving.
@miryanag (346)
• Bulgaria
14 Mar 13
I have a piggy bank. I empty my wallet from coins every day. The problem in my county is that no one wants coins. I can't buy nything with them because no one wants them. They act like coins are not money. But I will go to the bak mayve they will change them.
1 person likes this