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A piggy bank for the kids

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Jonathan Y. writes,

“I came across this piggy bank for kids, which has separate “buckets” that allow kids to set aside money for different things. As a kid, I always just thought you put ALL your money in one BIG bucket…and decided where it would go later on. I imagine many young people have this mentality out of college. Sticking to a plan is much easier when you decide where the money will go, then dole it out to accounts. Can you imagine the way (hopefully) this type of toy could change the way a child thinks about money?? Amazing!

PS- “Now 40% larger!” I could give the manufacturer a hug!”

A piggy bank

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19 Comments on "A piggy bank for the kids"

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JasonC
JasonC
10 years 1 month ago

Since you didnt post a link, I believe that is the Money Savvy piggy bank.

http://www.msgen.com/

I think that also comes as the Moolah Cow 🙂

Ramit Sethi
10 years 1 month ago

Link added, thanks.

Brad
10 years 1 month ago

This is great. I’m going to buy a couple for my kids. I think it will help make it fun for them. Thanks for pointing it out!

Jonathan C
Jonathan C
10 years 1 month ago

Wow, kids these days saving money to donate. When I was a wee lad, I never did donate much and yet it looks like it’s the biggest section on this piggy bank. Man, my priorities are all screwed up. I would probably put an “XBOX 360” sticker over the “DONATE” section.

Victor
10 years 1 month ago

Money Savvy Generation? MSG? Hmm…

All in all a great idea, except I wouldn’t have donations be such a large category. For god’s sake, if I donated that much out of my paycheck every month, I wouldn’t be able to afford rent.

Jonathan Y.
Jonathan Y.
10 years 1 month ago

what really caught my eye was how the “donate” bucket appears larger than the “spend” bucket…

Ramit Sethi
10 years 1 month ago

Woah, I didn’t notice that. I guess when you think about it, what do kids really need to spend on?

Khurram
Khurram
10 years 1 month ago

Imagine how great it would be if most ADULTS thought of money this way! I think kids using this piggy bank could give advice to many adults I know.

Bill
Bill
10 years 1 month ago

This is a good idea in theory and maybe I’m a selfish jerk, but those ratios appear to be very out wack.

For a kid, they should really be saving and and investing the majority of their money. Spending and donating should be minimal expenses.

Now maybe once an individual gets older (30-40 yrs. old) and they’re well established they can afford to donate and spend that larger of a portion of their money. But I suppose if you’re 30-40 and you need a bank like this to delegate your spending, you’ve got bigger problems.

Lucy
10 years 1 month ago

The idea is great the only problem being the sizes of the “donate” and “spend sections”. Beside that the piggy bank looks fine and I guess it will draw some attention from the kids.

Carlin
Carlin
10 years 1 month ago
Notice that the save portion is shorter but is wider than the donate portion. There was a study about how much alcohol someone would pour into a shorter, fatter glass as opposed to a taller thinner glass. Everyone (except for a group of really experienced bartenders) would always pour more into the shorter glass, since it looked like they were putting in less because there was more room for the liquid to go sideways before it went up. I’m figuring the same deal is why the Save side looks smaller (it’s shorter and fatter). It’s probably about the same volume… Read more »
Mikael
Mikael
10 years 1 month ago
I don’t see a problem with the emphasis on spending and donating. After all, if there is little or no tangible reward for playing the “game” (putting money in the bank in the first place) what kid is going to stick with it for any length of time? Besides, in the last seven months I’ve saved more money than I have during the rest of my life combined. Who cares if the kid saves or spends that odd quarter? What’s important is that he or she learns how to allocate it responsibly. Also, charity is really not a difficult sacrifice… Read more »
Jonathan Y
Jonathan Y
10 years 1 month ago
Mikael has it right on. The reason I submitted this item is because it’s the first time I’ve ever seen “charity” as a consideration for kids. It’s immaterial how much actual money goes from this bank to charity- the point is that kids will see “charity” as something that they should also consider when putting money away. We don’t just decide one day to be financial curmudgeons- it’s a habit we develop starting at childhood. I like how this toy introduces “charity” as a viable place to place your hard-earned money. With a little luck- kids will learn that donating… Read more »
Elliot
Elliot
10 years 1 month ago

so fantastic idea…

Gomek
Gomek
10 years 1 month ago

This would be more fun (and more effective) if all of the money dropped into one slot, and the money randomly (and therefore proportionately) distributed into the different categories.

It would also make it more fun. 🙂

Michael
10 years 25 days ago

We are the inventor of the Money Savvy Pig. Please don’t read too much into the size of the donate chamber. The chambers are designed to be visually equal when you look at the product in three dimensions. In actuality the chambers are all NEARLY the same size. There is no intention to put any emphasis on one chamber over the others. The length of the words and the available real estate on the side of the pig were the deciding factor for where the words were placed.

gambama
gambama
10 years 25 days ago

Actually, I’m pleased and impressed the “donate” section isbig. Tt certainly fits my values, and the ones I’m passing on to my daguhers. My daughter earned her first professinal money and promptly donated abput 10% to charity. I was proud of her.

E.V.K.Sivanand
E.V.K.Sivanand
9 years 9 months ago

Any donation should not be more than what you save. My Guru says your donation or charity shouldnot be more than 9% of what you earn. Also what you spend should not be more than 50% your income.(Didn’t we learn all these while doing our MBA!)

piggy bank
7 years 11 months ago

Thats a great idea for a piggy bank. While a child can decide on payper what he will do with the money, this is quite helpful.

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