What's in your kid's piggy bank?

[mollybrown]

It seems some of your children have lots of money in their piggy banks. Who puts it in there? Is it mostly you and your H, or do friends and family give them money for their banks as well?

My son has a piggy bank, but no one other than me ever puts money in it. I think his grandfather gave him a dollar once. The kids have never even gotten cash as a gift...only savings bonds. BIL joked that I needed to put his piggy bank in the living room so that it got more action

There is probably less than $10 in it, and I only put change in.

[ijack]

small gifts from family and friends - there is probably $50 in it (don't break into our house please)

[6fsn]

My parents and my childless brother send cards for every little holiday and stick $1-5 in the card. That money goes in the piggy bank. The 18 month old is obsessed with feeding the bank. As soon as DH opens the door she runs and empties his pockets. To be fair the 4 yo also gets change. The grandparents think this is hysterical so they empty their pockets too.

[Deleted]

Mine have 3 jars each...Spend, Save, Charity...they each get $1 per year per week for allowance. So DD1 gets $8 now, DD2$5, DD3 $3... To be divided evenly between the 3 categories. I don't know how much is in each now...less than $30 in any one. I take the save jar periodically & put the same amount in their USAA savings accounts. I put allcash gifts into this account. Charity is their choice, usually goes tosomething at school. They go toCatholic school so they often have opportunity to give charitably to a cause that moves them.

[satama]

Both grandpas save their change and bring it in a ziploc when they visit. They give ones or fives too sometimes. Every once in a while DH empties the banks (one for each kid) and puts the money in the bank.

[Ashley&Scott]

I would guess less then $10 in his piggy bank.

Most of his money is in his bank account, gifts are put in this account too.

[dragonfly08]

The girls have a couple of bucks, max, in their piggy banks. We don't really use them as a way of saving any money. I know I don't put anything in there...anything they have is spare change they pick up here and there, or that might be left over if we go shopping, etc.

Money sent in birthday cards goes into their 529 accounts mostly, and DD #1's allowance gets deposited periodically into her bank account. When #2 starts getting allowance, if she wants to open a little "slush fund" account like her big sister I'll take her over to the bank.

[Deleted]

I doubt more than $10. Its all change.

She has an ING bank account. And a 529.

[frlcb]

My ILs and dh always fill them with change, so we empty it every so often, last time it had $150 in it. We told him he could spend $75, and save/charity with the rest. He hasn't spent it yet though, since he doesn't actually 'get' it.

[h]

The grandparents put their change in it when they visit, and sometimes a $1 or $5 bill. They also get a few dollars here and there in cards from grandparents or aunts and uncles. DS2 probably has $75 and has never spent any of it. DS1 has about $50, but he has raided his piggy bank a couple times in the past to buy toys he has really wanted.

[Deleted]

$0. Not sure when we'll introduce piggy banks or something like what carolbrady is doing.

[Deleted]

Probably $20 in each. They have been saving change for our Disneyland trip.

[cjeanette]

My kids can't keep their piggy banks closed to save their lives. Everything they have is either in their pockets or bags. Must carry all the monies!

[Deleted]

Any change we have goes in. That's it. I take it once a year or so and it is usually about $80. That goes into his savings account.

[whitepicketfence]

Probably no more than $50. DH gives DD1 watever change he has on him at the end of the day and her grandparents will sometimes give her a dollar or two. Otherwise, all gift money goes into her savings account or 529 plan.

DD2 doesn't have her own piggy bank yet. Im sure we'll get her one someday but, for now, we just split whatever is in DD1's piggy bank between the two girls.

[jena]

Both of their piggy banks are packed to the top and I doubt there's $10 each in there. How big is a $50 or $70 piggy bank if it's mostly change???

DD asked for money from Santa last year. She wanted a bag of coins to toss in fountains. They rarely spend their money.

In a couple years (maybe 2nd grade) we'll introduce a virtual bank system to them. We did it with SS - basically it's just a check register, no physical money. They withdraw money by asking us for it so every time they want to put a quarter in an arcade game, it's their money they're spending. They earn interest on the money that they keep in the account. SS is 18 and is very good with his money IMO and knows that his debit card is still "real" money.

[bronxgirl]

She has a ceramic bunny bank that she got when she was born, but we've never used it.

[mellymel]

$0. He has an ING savings account. Will probably introduce a piggy bank soon though, for fun and learning.

[MrsManners]

He has a divided piggy bank (spend, save, give, invest) but it's currently empty. He has a bank account we fund, one that my parents fund and some precious metals. We will likely work with the piggy bank concept in another year or so when he's old enough to get it.

[beaver12]

DD's piggy bank was a gift at my baby shower and came with $10 in quarters. She puts change in it when she finds it or earns it for picking up toys and helping around the house. She probably has about $30 in it and we've never emptied it. I bought DS a bank when he was a few months old. DD insists on sharing with DS and splits the money she gets between the two banks. He probably has $15-20. All monetary gifts go into their bank accounts. We save for college separately too.

[UnderProtest]

Oct 12, 2012 18:46:14 GMT -5 bronxgirl said:

She has a ceramic bunny bank that she got when she was born, but we've never used it.

Ditto. My kids have a single ceramic elephant (sticking point for me....my husband bought it when I got pg the first time- was a chemical pg- and never did anything when I got pg and stayed pg with the twins) and there is absolutely nothing in it after a year.

[definitelyO]

no idea how much is in his piggy bank - but he has 2 that are full. we've already deposited one full one into his college account a few years ago. (DS is 6). he picks up change around the house, we give him random allowance, grandparents give him change and sometimes a dollar.

he has his piggy banks for save, a jar for donate and one for spend. he has about tapped out his spend jar on pokemon cards and hasn't done anything to get more allowance - so we'll see if that gets stepped up.