If you are someone who uses cash regularly, then you could really benefit from a piggy bank. Yes, you! Piggy banks are for adults too. After all, why do we teach our children to use them if we wouldn’t use them ourselves? Piggy banks are great because they help keep your loose change organized, and they’re perfect for setting goals.
While I realize that there are better ways to earn interest on your money, like putting it in a high yield savings account or a CD, a piggy bank is just the first step. Below are more reasons why they are beneficial.
1. You can see your progress.
For those of you who love visuals, a piggy bank is perfect for you. This is especially true if you use a clear glass jar as your “piggy bank.” You can literally see your savings growing or at least feel the weight of it! Every day that you add your change means one more day that you are closer to your goal. You can always put a label on your piggy bank or write your goal on it with a marker to remind yourself what you are saving for.
2. It keeps loose change organized.
How many times have you done laundry, only to find a few quarters at the bottom of the dryer? Or, perhaps you often find a few nickels in the couch cushions? This is loose change that could be going towards a goal! The way to keep organized is to empty your pockets every day when you get home from work and put it in the piggy bank. If you are a woman who throws loose change at the bottom of your purse, dump it out at the end of each day. You’ll feel accomplished, and your bags will be neat and ready for the next day.
3. It’s amazing how it adds up.
Every now and then, there are news stories of people who purchase entire cars with the loose change that they have collected over the years. However, if that goal is a bit too lofty, you can always aim to buy a nice meal out or a new pair of shoes with it, which would only take a few months of savings. It’s a really great feeling to take your spouse out to a movie with just change you collected. It almost feels like you are doing something fun for free!
4. It builds great habits.
The one way to build a habit is to start out slowly. Too many abrupt changes can lead you to quit too soon. So, to start making saving your change a habit, put a reminder in your phone. Put the piggy bank right by the door when you put your keys. If you forget, it’s no big deal. Just try again the next day.
5. You set a great example for your family.
If you are regularly using a piggy bank, then your friends and family will take note. How great would it be to set an example for your kids or for your nieces and nephews? They can learn that saving is fun and easy too! Plus, they’ll love dumping out the change and counting it.
So, what are you waiting for? Grab a mason jar or an empty jelly jar and start putting your change in it today! Remember that you don’t have to actually go out and buy a piggy bank. It’s just a way of thinking that will have a very positive impact on your life.
How do you save for a rainy day? Do you have a combination of investments and regular savings or just a change jar?