Piggy box: for small or big savings?

[Heatman]

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.

All of my children have actually started learning how to use piggy banks to save the money because I always try to cultivate the habit of saving money when they are still young.

 

[eLdavis]

All of my children have actually started learning how to use piggy banks to save the money because I always try to cultivate the habit of saving money when they are still young.

That's very good and I must commend you on this, not every parent understands the Importance of savings. I was discussing with someone some time back and she was like as long as she has all that is needed to fend for the family, why should the children stress themselves in savings.

 

[jay]

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.

I have actually since someone who was able to save more than 5 million naira in his piggy bank over the course of two years of saving without touching the money.

 

[Godspower]

I have actually since someone who was able to save more than 5 million naira in his piggy bank over the course of two years of saving without touching the money.

That is quite a huge sum of money and it is even more impressive it was saved with the aid of a piggybox. I must commend the discipline of the person in ensuring that the kept saying for a long time.

 

[Psalmseen]

Well, it depends on how much you wanna be saving in there. It depends on how much you're making in a week and you want to be saving part of it weekly or monthly as the case may be. But piggy bank shouldn't be a safe place to keep huge amount of money.

 

[Ghost1]

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.

My point exactly. They are not that trusted, they can disappear anytime. Their transaction policies favours those that transfer money often as they dont take out charges

 

[Godspower]

My point exactly. They are not that trusted, they can disappear anytime. Their transaction policies favours those that transfer money often as they dont take out charges

Well I think it depends on the savings app you meant. Piggyvest is one of the apps that is quite reliable in savings and they don't deduct unnecessary charges. You can choose to lock your savings for sometime and you can also save in dollars as well.

 

[Shigobad20201]

I am into small business and I am advising people like me to be using piggy bank as a means of saving because If you save in the bank ,the charges is too outrageous and might affect your money negatively.

 

[kayode10]

Piggy bank is basically for saving money. It depends on you how big or small you want the piggy box to be. If you are planning to save a lot of money in the box then you are going to make bigger one for yourself.

 

[Swazykid4all]

A piggy box can accommodate much savings depending on the size of the box and the way you put your money. You'll be amaze that a small piggy box can accommodate up to a million in it.

 

[mayumi97]

I only use a piggy box to accumulate loose change. I won't keep a large sum of money there for safety reasons. Last year, I've tried accumulating coins of a certain type in a piggy box and the result has been positive. I counted the amount last December and I was pleased to have collected enough money to either pay for a domain and hosting or register a small offline business. In the previous years, people have been trying all sorts of money challenges to motivate them to save and most of these challenges require putting away a certain sum of money within a year or less. This was great as long as it is accomplishing its purpose, and that is to inspire people to save. I would just want to remind people who try to go into these money challenges to ensure that the piggy box is kept in a very secure place.

 

[Bookwormlux1]

Piggy banks are the best to use for both big and small savings. This is because you do not get to see how much is in the box, unlike bank savings that show your balance which is tempting.

 

[Shigobad20201]

Since the banks has been removing unnecessarily charges from people account Nowadays , i have been thinking of starting my own personal bankong with piggy bank.

 

[tyrim88]

When it comes to the aspect of savings,it would be very wise to keep your money in a secluded area where you can bearlly have access to it.My brother years back saved hundreds of thousands at home,it was really a discipline act.

 

[Sotherefore]

Piggy box is just like saving your money in the banks and I hate it like crazy. I have to invest my money or save my money on something that can help my money increase in its overall value. Which is crypto-currency.

 

[joy101]

I have never give that a trial by saving money on piggy box I don't think it can use piggy box for saving bigger money, because I don't think that it can carry huge amount of money.

 

[Setho]

Piggy bank in is definitely a very good idea especially for low-income earners that need some kind of motivation in order to save money. This does not ordinarily me that day when you are going to put there is going to multiply.

 

[Shigobad20201]

The way commercial banking are behaving currently is really bad , deducting people's money anyhow even without making any transaction , I prefer piggy bank to normal bank

 

[Sotherefore]

Anything that is trying to encourage me to invest in their stable currency of our country is something I want always like to do and this is all of them. I don't just want to have it in my mind to invest or save in the Nigerian currency.

 

[Setho]

A piggy bank is usually used whenever you want to start saving money but maybe it is not for a particular target like for a health emergency that might arise in the future. It is usually very good for you to have a piggy bank at home.