How Important a Piggy Bank Is

Do you have a new member in the family? Is your family growing? Are your kids going to school already? Whatever the situation is, in a family, it is important to save money. While the bank is a great place to keep your savings, a piggy bank can be similarly advantageous. Let’s learn more about this and see what it can do to you and your whole family.

Advertisement

A piggy bank is not a storage for millions or even thousands of dollars. Normally, the size of a piggy bank is good for coins and a few bills of one dollar, ten dollars, twenty dollars and fifty dollars. You can also put in some hundred dollar bills. Once full, you can possibly earn around $500 to $2000 or more, but do not expect to have more than $10,000. If you could, then that would be really great! Just do not exceed to that high amount if the impossibility is somewhat obvious. The bottom line here is that there are still some amounts of cash that you can save with a piggy bank.

You may start pouting knowing that you cannot save something to buy for a new or a much better car. Unless a piggy bank is able to reach more than $20,000, you can only think of others that are worth less than that. Perhaps, your daughter turns 18 soon and you can just have enough cash to spend for a new beautiful gown for her. Your 10-year old boy might be wishing for a bicycle on his birthday and you can use that money from the piggy bank.

If not for your family, there are still other possibilities in which the money is used. One of your friends may be getting married in a few weeks. It will just be enough then to buy a nice wedding gift if you can start saving money in the piggy bank now. Investing in a piggy bank is surely a good means of certain situations wherein you do not have to use your credit card or loans.

Another best time to use the money in the piggy bank is for emergency or unexpected situations. You may need to buy a whole lot of medicines for your kid who has a skin allergy. At least you do not have to use your health loans and just use it for a much worse scenario. It is still a saving option for you.

A better idea is that every member in your family must have a piggy bank each. Even if your kids are still young, start encouraging them to save. Give them a piggy bank where they can drop a few extra coins from their allowance and from the blessings they receive from aunts, uncles, or grandparents. This is a stepping stone for them to save some real cash, which can be helpful to them once they mature and grow up to be independent of their own.

Leftovers are the best money you can throw into the piggy bank. Everytime you go to the grocery store and use cash instead of a credit card, the change you get is a good one to keep in the piggy bank. You may also have a habit to re-fuel your vehicle with money. The extra coins or bills from stopping by in the gas store are also another instance in which you can have money to use for the piggy bank.

Advertisement

There is always the need to use spare money without minding your own credit card, bank savings or loans. During emergency cases, you have something to use with the money stored or saved in the piggy bank. That’s what the purpose of having a piggy bank after all. It can assure you of the small things but big to deal with.

Comments

comments