Piggy box: for small or big savings?

[Toyoabasi]

December last year, there was a lady on social media who broke her piggy box and to the surprise of many realised more than a hundred thousand naira. Most people who save with the piggy box think it can only accommodate small savings and so do not care to save huge amounts of money.
Let me know your thoughts on this. Is the piggy box meant for just small savings?

 

[Laurentta]

It depends on how you earn. You can't be earning hundreds of thousands of naira and expect to save it in a piggy box. I feel piggy box is meant for small or medium saving purpose.

 

[Immilash1]

I have never save any amount of money on piggy box. Many people are saving on piggy box but I have never give it a trial. Many one day I should.

 

[eLdavis]

December last year, there was a lady on social media who broke her piggy box and to the surprise of many realised more than a hundred thousand naira. Most people who save with the piggy box think it can only accommodate small savings and so do not care to save huge amounts of money.
Let me know your thoughts on this. Is the piggy box meant for just small savings?

Saving with piggy box is very effective, early this year I did some savings using this method for I think three months or so and I was able to amount over 15,000 naira. Imagine if I had done it for the whole year.

 

[Kane]

Your piggy box will store only the money that you place inside it, it will not grow your money, it will not multiply your money. IN order to save money on your piggy box, you need n income where you are keep your money inside the box on regular basis

 

[AirDima]

Piggy box is not just meant for small or medium savings, its what u put there that comes out at the end of maybe 3 months or even a year.

 

[Good-Person]

Such kind of box is called "Gulak" and we use it here to save money. It is made of clay and it is basically a clay pot with a hole to put money into it. We used to buy it during childhood. It can only be used to save small amounts of money only.

 

[Trexxxy]

I think the piggy bank is for whatever savings, it could be either large or small savings depending on how much you save daily. I find it quite amusing that people use piggy banks, that is nice.

 

[Toyoabasi]

Saving with piggy box is very effective, early this year I did some savings using this method for I think three months or so and I was able to amount over 15,000 naira. Imagine if I had done it for the whole year.

Wow, that's impressive.
I was able to save small using a piggy box last year.
When I broke it open, I realised i had only been able to save 5000 naira in a space of six months.
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Piggy box is not just meant for small or medium savings, its what u put there that comes out at the end of maybe 3 months or even a year.

Most times you don't even get to remember what you have been putting in until you finally break open the box.
Have you saved using this method before?

 

[eLdavis]

Wow, that's impressive.
I was able to save small using a piggy box last year.
When I broke it open, I realised i had only been able to save 5000 naira in a space of six months.

That's also something, I stopped using it because I was actually using a wooden box and I heard since the box is made of wood, if I should leave the money for a year, insects might destroy the money. I plan on starting again next year though.

 

[Kingstone]

If I had the opportunity to make savings, it will not be a piggy box. But it's actually a good place to save. Although it might be like a local tool for savings, it is still valid for our day

 

[kinqzbitz]

No I think it is meant for big amount of money,atleast that way it can help you when you are in need of it because most times people get stranded and they end up breaking their saving box

 

[greenie]

December last year, there was a lady on social media who broke her piggy box and to the surprise of many realised more than a hundred thousand naira. Most people who save with the piggy box think it can only accommodate small savings and so do not care to save huge amounts of money.
Let me know your thoughts on this. Is the piggy box meant for just small savings?

I personally find this piggy box stupid. maybe just for the small part in coins that I still receive from the store ... but I can't get rich from this in the end when I break the piggy box. if you really want to raise some money, you create an account in a bank where you only have access after 1 year and every month you deposit some money and only after 1 year you have access to withdraw it, simply.

 

[YERUS]

December last year, there was a lady on social media who broke her piggy box and to the surprise of many realised more than a hundred thousand naira. Most people who save with the piggy box think it can only accommodate small savings and so do not care to save huge amounts of money.
Let me know your thoughts on this. Is the piggy box meant for just small savings?

I think the piggy box is just for small savings, depending on what you term small.
I used the piggy box last year and broke it in december, total i was able to save was 8000 naira.

 

[Good-Person]

The fact of the matter is that such kind of "banks" cannot be used to store small amounts of profits and this is why it is only used for small amount of savings. Some people still use such kind of banks to save small amounts of money.

 

[Godspower]

I think piggybox is for small savings and not large amounts of money. You can always decide to save the little money you would have used for daily frivolities or expenses that are not really needed.

 

[Dagm1]

No, I believe it is intended for large sums of money, at the very least so that it can assist you when you are in need, since most people become trapped and end up smashing their savings box.

 

[Justin]

Piggy box holds on only the amount that you have put inside. It cannot be used for big savings. Generally speaking, no one will keep a huge denomination notes inside the piggy box, they will only keep inside small denominations and changes.

 

[Thinker009]

Piggy box is actually not just a small saving ,but also big saving many have saved huge amount of money in the box and it benefited them ,but the thing is that when it involves big amount you need to thight security

 

[Ghost1]

Who keeps millions in a piggy box? It's obviously for small savings. The idea is to have an extra little savings other than the one large one at bank