One of the first things parents do to teach their children about the value of a dollar is pick up one of those cool piggy banks for kids. Whether they’re adorable or awesome, we hope the bank inspires our kids to be thrifty and save their nickels and dimes. Financial literacy is critical skill we need to teach our children.

Since the dawn of time, people have been using pigs for financial purposes. Along with the classic chubby piggy banks for kids to store pennies, pigs have been long used as a form of currency in agrarian societies. Along with understanding the abstract concept as money as a symbol for goods like pigs, we need to teach our children how to use. it.

Good financial literacy includes knowing how to save and how to invest. By the time they become adults, they need to know how to be responsible with their money. The first lesson is how to tuck it away for later.

Learning Financial Self-Discipline

These little contraptions don’t actually do any good if the kids don’t show self-control and restraint in spending. They may be better off with one that’s difficult to open. At some point, it’s a good idea to take this horde and deposit in an interest earning savings account. They may not be the best tool for saving, but piggy banks for kids can give your child a sense of satisfaction when they hear that quarter go “clink.”

Probably the most important aspect of saving as far as your child is concerned is what kind of piggy bank for kids they want.

Piggy Banks for Kids Compilation #1:

"piggy banks fro kids cool good smart fun"

Name: Itazura Panda Coin Bank
Price: $11.99
Available for purchase: here
+ cute design, box shaped, various sizes, learn how to say ‘hello’ in Chinese
mechanical, not that much space for actual money
Recommended age: at least 36 months

" cute piggy banks for kids cool good smart fun "

Name: Carter Smiley Piggy Bank
Price: $13.47
Available for purchase: here
+ silver finish, ceramic body, decorative, large
basic, unpractical, quite expensive
Recommended age: no age limit

 


Pros and Cons of Getting Piggy Banks for Kids

Now that we’ve seen a couple of nice examples of piggy banks for kids, lets look at some of the advantages and disadvantages.

  • PRO: Your kids will have a special place they can put all of their money. This can be really great if they want to buy something nice in the future.
  • CON: Most piggy banks don’t allow kids to remove the money by any other way besides breaking it to pieces. This can cause injuries, as well as result in bad feelings over broken things.
  • PRO: The money stays in one place. Despite the fact that it’s irritating they can’t get to their money, it’s also a good thing for those kids who can’t control themselves and would otherwise never be able to save anything.
  • CON: So much money in one place can be too tempting for siblings or even adults.
  • PRO: It’s a good emergency option. Stuff happens – even when you don’t want it to. And some extra money safely locked away in a piggy bank is always there to come to the rescue. Just be sure to give it back to your kid, otherwise it’s stealing.
  • CON: It’s all spare change and hard to spend. Make sure you change your kid’s piggy bank money at the bank before he goes to buy that awesome thing he’s been wanting.
  • PRO: Piggy banks for kids teach young ones about saving money, about being financially responsible, and another important life lesson: the value of patience. Not only in literal terms, but also when it comes to financial issues.
  • CON: Overexposure to money. This is a thing. When kids start to see everything around them in terms of money or in relation to money, then you’ve got a problem on your hands. Be sure to also teach your child the importance of experience, of fond memories, and of being a good person.
"piggy banks fro kids cool good smart fun"

Kids like to save money. Just about equally as much as they like spending money.

Piggy Banks for Kids Compilation #2:

"piggy banks fro kids cool good smart fun"

Name: Emerson Digital Piggy Bank
Price: $15
Available for purchase: here
+ reasonable price, digital counting mechanism, accepts all types of US coins (even silver dollars)
it’s just a jar, it can be easily opened, it’s transparent, you always know how much you saved.
Recommended age: at least 36 months

 

"darth vader piggy banks fro kids cool good smart fun"

Name: Darth Vader Piggy Bank
Price: $21.99
Available for purchase: here
+ star wars, awesome design, ceramic, can be easily cleaned
not that big, pricy, may draw its owner closer to the dark side
Recommended age: no age limit


Conclusion

In the end, a cute little piggy bank might not make that big of an impact on your child’s financial future. However, piggy banks for kids are a way to tuck away fond memories as well as nickels and dimes. Everyone remembers their first piggy bank and the first coins they ever earned. They can create positive feelings about making and saving money. And that’s not always a bad thing.

Image sources: 1, 2, 3, 4, 5, 6