piggy banks may seem to be an abstract concept for some kids to use but there are lots of kids that do understand about using them to save money for a future date

Reply

you people really have one lodged up your butt. do your kids even know what a coin is or are debit cards all they know? some people out there actually know the value of a dollar and the effort needed to earn one.

Reply

Single slot piggy banks? Perfect! A very young child of two or three hasn't any value conception. For that matter, I'm not sure some adults have the concept, who use the plastic Mr. Reynolds speaks about. It is my experience, with the correct tutelage, the piggy bank can make a world of difference in the future spending habits of any child. The piggy bank has served to segue into the important things such as giving, saving, investing, and finally spending through visual attempts at appreciation, e.g., shiny coins, pretty coins of different size and weight, in so doing appealing to the childs senses. What could do a better job of this than grandparents, parents, the toothfairy, or other significant individuals and the piggy bank. The financial foundation has to be started early, of some allure to a small child in order to build a foundation of respect, appreciation and understanding of how this money thing works. Well, the piggy bank plus someone to offer loving good, real, functioning direction to commect the dots at every step makes for a savvy, financially sound individual. Ms Beacham, while I am sure the intensions are good, needs to leave her ivory tower of financial platitudes and understand if the the allure bug doesn't bite at a early, young age, the battle is not only lost but the war is too. In others words, it becomes real when the younger child is involved directly on a scale which they can comperhend. It is up to the parents to connect the dots in helping the youngest child understand exactly what they are doing (combating those blank stares) then take that child to the next level with a multi slot piggy possibly, all on the foundation built with the single slot, traditional piggy bank.

Reply

I agree that a piggy bank for a small child is nonsense. But by the time a child reaches school age and is "cognitive" of such things, the idea of saving for a stated objective is a necessary lesson. Why, my wife has a jar labeled "greens fees" and anything she finds in my pockets eventually gets used on the golf course. Another example? Back in the 40's, my grandfather told my grandmother to "round up" in the checkbook and at the end of the month transfer the difference to a savings account. In about 1951, she showed up at the house in her shiny new car! Single slot piggy banks? We need more, not less!

Reply

Wow. Susan Beacham is one money "expert" I'd stay away from. Why she gets her knickers in a knot over a child dropping coins into one of these is beyond me. When that piggy bank is full, it is a great parent-child teaching moment--sorting the coins, then wrapping the coins and taking them to the bank to put into a savings account. Or splitting the money--a portion for savings (not to be touched), a portion for charity, a portion just for him or her to do with what he/she pleases.... Susan should get a grip and invest her time in something that really matters, like the current state of the economy and how to best help those silly enough to follow her after reading what she has to say here....

Reply

Your children must be rather stupid...

Reply

You missed again. One-slots are a piece of our nostalgia and history. They are memory evokers, paper weights, coin claches for the emergency caffeine fix, donation repositories, conversation starters, and a fun and easy way to imprint the concept of saving on young children. While you are trashing the one-slots, slip your credit cards through your shredders, too. If you think a child doesn't understand the one-slot piggy bank, then the concept of paying with invisible money is way beyond their comprehension. Try again guys, and send me your one-slot piggy banks.

Reply

What should we be saying goodbye to? Dangerous piggy banks with no stopper that you have to smash to get your money out of. Keep one slot piggy banks! You don't need four slots, just have the kids divide their money as they see fit when the piggy bank is full!

Reply

sure sounds like marketing spin from someone trying to sell a "new" "modern" or "updated" piggy bank.

Reply

I couldn't disagree more. I give all newborns a piggyback (and a real Tonka truck) when they're born. At first, family & friends added the coins. My 21-month old niece has been adding to it since she was 11-months old, emulating what she saw others do. She NEVER puts money in her mouth. She curls her hand around any coins she's given until she can get home and "feed the piggy." When she's done, she kisses the piggy and points to the shelf where it's supposed to sit until next time. She and her Mommy and Daddy take the piggy to the bank when it's full, along with her passbook. She may not know what all that means at this point, but she'll know soon enough -- and, better yet, a habit will have already been ingrained in her to save. We now have additional piggy banks at both maternal & paternal grandparents' homes. Coins are kept in a separate storage until she visits and can put them in herself. She doesn't need fancy toys. She loves to "feed the piggy," as can be evidenced by her $2000+ savings account from coins alone. As far as I'm concerned, it's a great way to teach a kid to save. The explanations can come later. It's never to early to start good habits. This one happens to be fun, too.

Reply

That writer is a dork. Nothing wrong with Piggybanks. Maybe mom and dad just need to teach the little ones all about the money that goes into the piggybank and what to do with it when piggy is full. I had a bank and I understood that when it was full there was a decision to be made about the contents. I also knew that when I was putting the coins in that eventually some of it would be used for spending on a vacation.

Reply

I agree with the person who says this is clearly a marketing ploy, given the single "expert" viewpoint is from someone who has designed a product to fill this artificially created "need". We have several single-slot banks in our house, and our 5yr old and 2yr old LOVE putting coins in them. They're not all pigs - we have a Moncchichi one that was bought for our firstborn (born inthe year of the Monkey) for his personal use, a house-shaped one for saving for things that are for the whole family, a Lego one for saving for Lego sets, a pig for the little one (born in the year of the pig), one just for pennies, and a cardboard one that is from our church for donations to charity. The kids love putting money in the different ones. If people really want to have kids separate out their money as they're "banking" it, I would recommend getting different single-slot banks that somehow visually convey the idea of what the money is for instead of this piece of junk recommended (more like advertised) here, so that you can get the kids into the habit before they can READ the words on this piece of trash!

Reply