Comments on: A piggy bank for the kids http://www.iwillteachyoutoberich.com/blog/a-piggy-bank-for-the-kids/ Personal finance blog for college students, recent graduates and everyone else -- including entrepreneurship -- for getting rich. Featured in the Wall Street Journal and New York Times. Sun, 21 Mar 2010 02:45:13 -0700 http://wordpress.org/?v=abc hourly 1 By: piggy bank http://www.iwillteachyoutoberich.com/blog/a-piggy-bank-for-the-kids/comment-page-1/#comment-78152 piggy bank Sun, 26 Oct 2008 21:50:46 +0000 http://www.iwillteachyoutoberich.com/blog/a-piggy-bank-for-the-kids#comment-78152 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. 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.

]]> By: E.V.K.Sivanand http://www.iwillteachyoutoberich.com/blog/a-piggy-bank-for-the-kids/comment-page-1/#comment-2731 E.V.K.Sivanand Thu, 30 Nov 2006 08:54:14 +0000 http://www.iwillteachyoutoberich.com/blog/a-piggy-bank-for-the-kids#comment-2731 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!) 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!)

]]> By: gambama http://www.iwillteachyoutoberich.com/blog/a-piggy-bank-for-the-kids/comment-page-1/#comment-2730 gambama Fri, 01 Sep 2006 13:12:53 +0000 http://www.iwillteachyoutoberich.com/blog/a-piggy-bank-for-the-kids#comment-2730 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. 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.

]]> By: Michael http://www.iwillteachyoutoberich.com/blog/a-piggy-bank-for-the-kids/comment-page-1/#comment-2729 Michael Fri, 01 Sep 2006 02:25:19 +0000 http://www.iwillteachyoutoberich.com/blog/a-piggy-bank-for-the-kids#comment-2729 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. 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.

]]> By: Gomek http://www.iwillteachyoutoberich.com/blog/a-piggy-bank-for-the-kids/comment-page-1/#comment-2728 Gomek Thu, 17 Aug 2006 14:29:25 +0000 http://www.iwillteachyoutoberich.com/blog/a-piggy-bank-for-the-kids#comment-2728 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. :) 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. :)

]]> By: Elliot http://www.iwillteachyoutoberich.com/blog/a-piggy-bank-for-the-kids/comment-page-1/#comment-2727 Elliot Thu, 17 Aug 2006 04:40:21 +0000 http://www.iwillteachyoutoberich.com/blog/a-piggy-bank-for-the-kids#comment-2727 so fantastic idea... so fantastic idea…

]]> By: Jonathan Y http://www.iwillteachyoutoberich.com/blog/a-piggy-bank-for-the-kids/comment-page-1/#comment-2726 Jonathan Y Thu, 17 Aug 2006 03:53:33 +0000 http://www.iwillteachyoutoberich.com/blog/a-piggy-bank-for-the-kids#comment-2726 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 money to charity is a "purchase" you will always feel good about later on...as opposed to all the "grown-up toys" we develop addictions to. 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 money to charity is a “purchase” you will always feel good about later on…as opposed to all the “grown-up toys” we develop addictions to.

]]> By: Mikael http://www.iwillteachyoutoberich.com/blog/a-piggy-bank-for-the-kids/comment-page-1/#comment-2725 Mikael Thu, 17 Aug 2006 00:54:13 +0000 http://www.iwillteachyoutoberich.com/blog/a-piggy-bank-for-the-kids#comment-2725 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 for those who believe that it is important; it's a psycological hurdle, not a financial one. Folks who never donate to charity when they are young do not seem to start donating when they are older. Folks who are taught at a young age that sharing is good, even when resources are a little tight, seem to be more generous to charities later in life when resources are plentiful. I don't have any research handy to support this, but I've observed it to be true. 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 for those who believe that it is important; it’s a psycological hurdle, not a financial one. Folks who never donate to charity when they are young do not seem to start donating when they are older. Folks who are taught at a young age that sharing is good, even when resources are a little tight, seem to be more generous to charities later in life when resources are plentiful. I don’t have any research handy to support this, but I’ve observed it to be true.

]]> By: Carlin http://www.iwillteachyoutoberich.com/blog/a-piggy-bank-for-the-kids/comment-page-1/#comment-2724 Carlin Thu, 17 Aug 2006 00:07:36 +0000 http://www.iwillteachyoutoberich.com/blog/a-piggy-bank-for-the-kids#comment-2724 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 wise as the donate portion. 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 wise as the donate portion.

]]> By: Lucy http://www.iwillteachyoutoberich.com/blog/a-piggy-bank-for-the-kids/comment-page-1/#comment-2723 Lucy Wed, 16 Aug 2006 22:59:19 +0000 http://www.iwillteachyoutoberich.com/blog/a-piggy-bank-for-the-kids#comment-2723 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. 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.

]]>