The piggy bank has been used to reinforce the ideas of saving and spending since time immemorial. Giving your children their very own coin bank will help them understand the value of saving and the pleasure of being able to enjoy the money they have ‘invested’ later on. It’s easy to insert money in piggy banks, but very hard to get money out from it – your child will have to break it open, so he or she might re-think about whether it’s really worth it to get the money now .
But piggy banks are not just for children. Adults can use it as well to save loose change (which we all get almost every day). Try saving your loose change throughout the year and you may never have to use your credit card to buy gifts during the holidays.
You can also try setting a goal for your money bank. The promise of a treat – perhaps a new gadget or a trip to a luxurious spa – would motivate you to set aside those coins each day.