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How Does A Piggy Bank Help A Growing Kid

Piggy banks are an ancient tool for saving money. They were made from pygge, a kind of clay and were called “pygge jars”. An evolution of the word took place and we were left with the term ‘piggy bank.’ Piggy banks are a great educational tool for teaching kids the importance of savings and managing finance. As kids, we learn from the activity of collecting spare change in a piggy bank but over the time, we lose those learnings.

Recent studies have found that using piggy banks actually work in saving money. People who still use piggy banks save money for small expenditures that occur time and again, without straining their pockets. Piggy banks are a great way to teach kids to be financially strong and learn banking lessons. The whole reason of having a piggy bank is really beneficial and have a look at some of the reasons.

Piggy bank helps to store loose change
We have loose change lying around everywhere in the house. Women have them scattered in their purses while men carry them in their pockets. We often end up giving them away or spending them on insignificant things, simply because we think that we cannot use them anywhere else. A piggy bank is usually placed in the most convenient part of the room. Whenever you see change lying around, you can pick it up and drop them inside the piggy bank. You end up saving more than wasting money on useless things.

Piggy bank is quite spacious
The piggy may look small but its big belly has a lot of room. It is spacious enough to accommodate all your spare change. Filling the piggy takes a lot of time. In the process, one learns to be patient with their savings and returns. This is a very important lesson that can be drawn from having a piggy bank.

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Piggy bank inculcates financial discipline
It just does not stop with putting some loose change into the bank. We all have a certain kind of obsession with filling the piggy bank until it reaches a stage where no more coins can be shoved in. You do not even realize it and suddenly your ultimate goal is to fill the piggy bank. Therefore, you start to look for loose change everywhere just so you can fill it up. Doing this inculcates a habit of financial discipline within you as you look forward to storing more loose change.

Piggy bank helps you control your savings
After the piggy bank has stood the test of time, it is time for you to break it. Since it has only one way of opening, you often hesitate before breaking it. The entire process teaches you how you can be resistant when it comes to withdrawing your savings.

Hence, it can be said that the piggy bank not only helps in teaching goals to kids but it also helps them incorporate good saving habits once they become adults.

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