Inexpensively

Helping you live your life, inexpensively.

  • Money Saving Ideas
    • Budgeting
      • Debt Management
      • Financial Planning
      • Taxes
    • Eating
      • Cooking
      • Dining
      • Gluten Free
      • Organic
    • Going Green
      • Living
      • Entertainment
      • Fashion
      • Health and Beauty
      • Holidays
      • Home and Garden
      • Travel
    • Sharing
      • Charity
      • Gift Giving
    • Shopping
      • Couponing
      • Free Stuff
      • Groceries
      • Rebates
      • Rewards
  • Deals
  • Coupon Codes
    • $ Off
    • % Off
    • Free Shipping

Oink Oink – The Piggy Bank Approach to Savings

May 19, 2010 at 4:52 pm Leave a Comment  

You probably haven’t had a piggy bank since you were a kid. And I’ll bet that piggy bank got raided a few too many times for candy, movies, and toys. But now that we’re adults, and have mastered the art of self restraint {insert snickering here}, it’s time to give the piggy bank the respect it deserves.

We’ll start by calling it a coin bank. That makes our change collecting endeavor sound much more serious and mature {insert more snickering}.

I recommend a sophisticated piggy coin bank to encourage your own penny pinching – something that can sit on your counter as a daily reminder of the process of saving. A 401k, Roth IRA, and automatic savings are all wonderful and necessary to plan for the future, but nothing is quite as fulfilling as the tangible evidence of your savings.

Plus, cash on hand is much more accessible on a rainy day, and who says you can’t have a little spontaneous fun with your loose change every now and again?

Here are a few coin banks that I love:

  • Jonathon Adler Midnight Elephant Bank
  • His and Hers Banks – perfect for Penny Wars!
  • Money Tree Coin Bank – the tree “grows” as your savings increase!
  • Computer Key Money Box
  • Clear Glass Piggy Bank

Once your coin bank is prominently displayed, it’s time to start saving. Here’s a few tactics I’ve used to kick start my penny pinching:

  • If you’re budget is a cash system, you’ll have plenty of extra change to fill your bank. Make a habit of emptying your pockets into your bank at the end of every day.
  • Up the ante. At the end of the week, commit to contributing a percentage of your remaining cash or all your $1 and $5 bills to your bank.
  • Make saving a friendly competition with a game of Penny Wars or see who can reach a set dollar amount first. Winner gets to pick how the money is spent.
  • Have a goal in mind. Do you want to save for your next vacation? A night out for your anniversary? A  new patio set? Whatever it is, saving towards something specific is a motivator.

Putting the piggy bank method into action may sound silly, but I think you’ll be pleased at how gratifying it is when your coin bank is full!

Filed Under: Financial Planning Tagged With: savings

About CorrinRenee

Corrin Renee is a featured author for Texas Inexpensively. Corrin is Broke as a Spoke and blogs about her quest to become debt free. Including daily spending habits, fights with Sallie Mae, paying off all of her credit card debt, setting up an emergency fund, pumping up her 401k, and saving for lots of fun stuff like vacations, a house, new clothes, gadgets…the necessities. Follow Corrin on Twitter.

More from Inexpensively

  • Food Bank Shortage
  • Financial PlanningSave like a Pro using the Dream Jar Method
  • Health and BeautyMedicine Savings
  • Financial Planning6 Ways to Teach Your Child About Money

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Copyright © 2023 Inexpensively · Theme by Studio 27

Copyright © 2023 · Inexpensively on Genesis Framework · WordPress · Log in