10 Best Piggy Bank Tips for Kids

Best Piggy Bank Tips for Kids
Written by Oana Schneider

For kids from earlier generations, going to a local bank with their parents has become almost a rite of passage. Having a bank account teaches kids the importance of saving money while also encouraging them to develop good financial management skills.

The younger they get trained about money management, the better off they will be in the future once they start handling their own money. Try out these piggy bank tips for kids and teach your little ones to be wise about their pennies. 

If you’re a parent who thinks that handling money is something that kids should only learn from their teachers at school, think again. Here are a few quick facts to give you an idea about how important it is to teach kids about the value of saving, even at an early age:

  • According to, an alarming 36% of Americans do not have any money at all on their retirement savings accounts.
  • From a recent survey done by T. Rowe Price, it showed that 63% of kids with families who freely talk about their financial goals claim that they feel smart about money. This can be compared to the mere 35% who feel confident about having good money management skills, despite having a family who does not freely talk about their financial goals.
  • According to a T. Rowe Price’s survey, here’s how children regard their saving and spending habits for 2014:

36% are more of a saver than a spender.
34% are more of a spender than a saver.
16% are definitely a spender.
13% are definitely a saver.

Only a small percentage consider themselves to be a definite saver, so it will greatly help if parents will proactively teach their kids the importance of saving and instil in them the skills for good money management. We know all the piggy bank tips for kids, so keep reading.

What are the Best Piggy Bank Tips for Kids?

 Now, what are the ways for you as a parent to get your little one to save money? Should you use the piggy bank approach, or do the traditional opening of an account at the local bank with them? It’s entirely up to you, but to give you an idea about which approach might work, check out our top piggy bank tips for kids:

It pays to start early.

While the kids are still young, aren’t you already instilling in them certain habits like brushing their teeth before going to bed; saying please and thank you; respecting elders; putting away their toys; etc.? Why not include saving money in this list? As young as three-year-old kids are, getting them started with the habit of saving will let them know how important it is to save instead of spend money. Kids aged three to five can be made aware of the importance of saving money and doing it as a habit, although experts say that on average, kids can grasp basic financial concepts by age six. 

Best piggy bank tips for kids

Teach Your Child to Save Money!

Start teaching kids how to save at home using actual piggy banks or savings jars.

Actual piggy bank tips for kids include savings jars that are an excellent training ground for your kids to learn how to save money. If you have a six-year-old son who would like to buy a toy which is beyond your budget as a struggling parent, give him a piggy bank where he can put spare change. Pay him for age-appropriate tasks so that he can pool together resources to buy what he wants. Not only will this teach him the value of saving money, but he will also be aware of the importance of hard work.

If there are many kids around the house, you can pool together all your resources and teach them the value of saving money. Have money jars ready which you can label with different savings goals. For Jar 1, you can put “To Donate” on the label. For Jar 2, you can put “Disneyland Trip Funds”. For Jar 3, you can put a “For College” label. Once your kids see you putting away even spare change on these jars, they will realize how important it is to manage one’s finances and work hard to achieve one’s goals.

When you think that your kids are old enough, take them with you to your bank.

No matter how old your child is, these piggy bank tips for kids apply to them all. If you think that your child is old enough, take him or her to a trip at your local bank. Call the bank in advance and maybe arrange a tour of the vault, or pay a coin factory a visit. Kids love seeing cool things and this will amp up their first experience with banks.

If you do decide to open up an account for your child, make sure that there are enough funds. A regular savings account which has your name on it as a parent, also called custodial or in-trust accounts, is a great first step to take in teaching your kids how to save money. If your son or daughter is close to college-age, make sure that you’re aware of the restrictions once he or she gains access to the funds. This is usually at the age of 18 or 21, depending on the state. You should also check on the other Terms and Conditions of the account and explain them to your child in an age-appropriate language.

More importantly, make your kid aware that the account is under his or her own name. Their first banking experience should be a pleasant one so that they will not hesitate to use the services during their adult years. Have them choose their own PIN number, and make them see the name written on the ATM card, debit card or passbook. This will give your child a sense of ownership and pave the way towards financial responsibility. Just make sure to look up the best piggy bank tips for kids online for a little inspiration!

Work into your daily conversations lessons about saving and spending.

The best of all the piggy bank tips for kids ever is to explain money to your kids. For most families, money is actually a taboo subject – but this should not be the case at all. The less you talk about something as important as finances, the more likely family members will make mistakes along the way. A good way to open up the subject of money is to talk about spending, saving and interest in your daily conversations. Let’s say that you’re a mom who is making a weekly budget for groceries. Take your daughter to your next trip and have her check on the prices of goods, and teach her how to compare different brands. Explain to her that you need to stick to a budget so that everyone will be fed, but without exceeding your allotted budget.

If you’re going on a trip, explain to the kids how you had to work doubly hard to come up with the funds to pay for everything. If your son wants the latest gaming console, encourage him to save money from his allowance or even work for a few dollars so that he can pool together the funds to buy what he wants. It’s little things like this that will make your kids more aware about the importance of saving money. In fact, why not ask them to come up with piggy bank tips for kids? You’ll keep them informed and responsible, not to mention occupied. 

Guide your kid every step of the way.

after a certain age, these piggy bank tips for kids seem ineffective. Mistakes are bound to happen especially once your kid reaches the age of 18 to 21, when they would have to take over the account. At this stage, you can let them take over the account and take your name off it. However, do encourage them to keep on saving money on the account and build a long history with the same bank in order to build good credit. If your kid stumbles while you are still a guardian under the account, you can take the necessary steps to correct the mistake but make sure that your child has learned that valuable lesson and not make the same error in the future.

Best piggy bank tips for kids

Try Apps to Teach Your Child How to Save Money!

Download cool apps for money management which are age-appropriate.

Finally, the best piggy bank tips for kids refer to using a language that they are very familiar with even at such a young age: technology. If you have an Android or an iOS device, you can download apps that will teach them the necessary skills to manage their money. What’s good about downloading these apps is that not only will they enjoy playing the games or tinkering with the apps, but they are also learning a valuable lesson about money in the process.

Here is a list of some must-have apps for money management and saving that you can download on your Android or iOS device:


This is a free Android app which acts as a virtual bank for kids. This will teach your elementary-age kid how to budget her allowance or meet a savings goal.


Suitable for kids aged 14 to 15, this iOS app can be installed on Apple devices. It teaches older kids how to manage their finances and keep track of their cash funds. What do you think about these piggy bank tips for kids?

Learn to Count Money

For young kids, a great app to teach them how to recognize pennies, nickels, dimes, quarters and dollar bills is Learn to Count Money. It’s an Android app with a pirate as a main character to keep the kid’s attention glued to the screen.

Learning Money with Leo

Suitable for kids aged 3 to 6, Learning Money with Leo is an iPad app with different games and activities. One example is the Coloring Book option which teaches kids how to sort and count coins.

My First Money Tablet

There’s also My First Money Tablet, an Android app that also teaches kids about the US monetary system. After learning how to recognize the different coins, they would know hot o count money or use a virtual vending machine to make random and fun purchases. Do you know any piggy bank tips for kids?

About the author

Oana Schneider

Oana Schneider is a published author located in Chicago, Illinois and was part of our team as a communication specialist and blog editor. She writes about lifestyle, family budget and has a degree in Communications.


  • I was fortunate that my kid started saving money on his own. It started when they made these plastic bottle piggy banks in art class. My kid would always as for his allowance in coins so that he could put them in the piggy bank.
    By the way, your tip about bringing kids to the bank reminds me of the movie Marry Poppins when Mr. Banks tried to teach his kids how to save money but they instead wanted to spend it on bread to feed the pigeons.

    • That’s awesome. It’s always nice to see schools taking some initiative and teaching children information or principles that they can use in real life. Academic subjects are nice, but the truth is that not all students are going to need advanced math or technical writing skills moving forward.

  • Piggy banks are so simple, and yet they’re so important for teaching children about personal finances and the importance of saving. The sooner a child starts realizing that they need to save rather than spend money, the better off they’ll find themselves when they become an adult. It’s as simple as that, and a piggy bank at a young age makes the difference.

    • Yes they are! Piggy banks are simple ways to teach your children about personal finance at an early age. Even though it may not seem relevant to teach such young children about personal finance, it is important to learn to save at an early age.

  • I think that being able to understand about money from a young age is incredibly important indeed, because it means that they are much more likely to be able to learn the lessons later on in their lives, which is great. I think that having a piggy bank is a brilliant idea, and it is good to show children that once they have spent their money, that’s all that there is, and it is not an endless pot. This means that they are able to learn to budget and to save for things that they need. Encourage them to buy treats for themselves (even though obviously the money is coming from you in the first place) and teach them about how much money it costs to buy certain things.

  • I have to say some of those apps are quite cute and very ideal for kids. I started young myself but that was because it was a long time until I got my first allowance which then ended. So for it was good I saved nearly all of them!

  • I believe that teaching children to save money at an early age is very important. Saving and using money wisely is a very important trait as an adult, and having a piggy bank is a simple, yet very effective way of teaching children early on about saving money. Even though they are children, learning early is very important.

  • I guess, I ‘m a child at heart for saving 2/dollar coins and $50 bills in a tin piggy bank. I think, prudence with money and expenses will help children be wise with money matters, too. Earning for tasks at home encourages them to work harder and diligently. A child, old enough to earn from a skill she loves doing, like, writing. She gets paid $5 for every 1,500 words. Cool!

  • I was taught to save my spare change in a piggy bank from a very young age. To this day I still have the habit, and I definitely think it made me more of a saver than a spender. So I would wholeheartedly recommend anyone with young children to get them piggy banks posthaste. They’re simple and effective.

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