Piggy bank and hammer: what kids should know
Short answer
A piggy bank is a fun container where kids save coins and small bills, often shaped like a pig, and a hammer is used to break it open when it’s time to spend or count the saved money. This teaches kids important lessons about saving, patience, and making choices with their money in a simple, hands-on way.
What Is a Piggy Bank and a Hammer?
A piggy bank is a container designed for saving money, especially coins. It’s often shaped like a pig, but there are many other fun shapes too. Kids put their money inside through a slot on top, and the money stays safe until they want to take it out. Many piggy banks are made of ceramic and don’t have an opening to take the money out without breaking them. This is where the hammer comes in. When the piggy bank is full or the child wants to use the money, they gently tap it with a hammer to break it open. This breaking moment is a big event—it shows that saving is done and it’s time to use the money thoughtfully.
This physical act of breaking the piggy bank helps kids understand that saving means waiting and that money doesn’t disappear but grows when saved. It also makes saving fun. Some piggy banks, especially plastic ones, have a removable plug so kids can open them without breaking, but the classic ceramic piggy bank needs a hammer to open, which adds excitement and teaches patience.
How Does a Piggy Bank Work? A Step-by-Step Example
Here’s a simple way piggy banks work, using an example: Imagine a child who receives $2 every week as allowance. Instead of spending it immediately, they put all their coins and dollar bills in the piggy bank. After 10 weeks, the piggy bank holds $20. The child has saved all of it without spending any coins during those weeks. When the piggy bank looks full, the child and a parent decide it’s time to break it open.
- First, count how many coins and bills are inside without opening it. Some piggy banks are clear, others are not, so parents can help guess the amount.
- Next, place the piggy bank on a soft surface like a towel to keep it from breaking into too many pieces.
- Carefully tap the piggy bank with a small hammer until it cracks open.
- Remove the money and count it together to see the total amount saved.
- Decide what to do with the money—save it in a bank account, spend some, or share some.
This process shows how saving a little money regularly can add up to a useful amount, and breaking the piggy bank with a hammer makes it a memorable event.
Why Does Using a Piggy Bank Matter for Kids?
Using a piggy bank helps kids learn important money habits early. First, it teaches patience — money needs time to grow. Kids learn that if they spend coins as soon as they get them, those coins don’t add up. But if they save, the total amount grows bigger. It also teaches goal-setting. For example, a child might save to buy a toy that costs $15. Seeing the piggy bank fill up brings excitement and a sense of achievement.
Additionally, breaking the piggy bank with a hammer signals a moment of decision: is it time to spend or keep saving? This builds skills in managing money, making choices, and understanding value. It creates a positive attitude toward money that helps kids grow into thoughtful savers and spenders.
Parents and teachers can use piggy banks to talk about money management in a hands-on way. This simple tool can start conversations about earning, saving, spending, and sharing money responsibly.
What Terms Do People Mix Up with Piggy Banks?
People often confuse piggy banks with other containers or money concepts. Here’s how to tell the difference:
| Term | What It Is | How It Differs from a Piggy Bank |
|---|---|---|
| Coin Jar | A simple jar or container for coins | Usually not shaped like a pig and can be opened anytime |
| Tip Jar | A jar used to collect tips for services | Not for personal savings, but for money given to someone else |
| Wallet | A small pouch for carrying money and cards | For carrying money on the go, not saving over time |
| Savings Account | A bank account for holding money safely | Digital, earns interest, and managed by banks, not a physical container |
Understanding these differences helps kids and adults know that a piggy bank is a special tool for saving money at home and learning about saving, unlike a wallet or a tip jar.
How Can Parents and Teachers Help Kids Use a Piggy Bank?
Parents and teachers play an important role in helping kids get the most from their piggy bank. Here are some practical steps they can take:
- Give Regular Coins or Small Allowance: Provide kids with coins or an allowance to put into their piggy bank, encouraging the habit of saving regularly.
- Set a Goal Together: Help kids decide what they want to save for, such as a book, game, or art supplies. This goal keeps saving purposeful.
- Use Clear Piggy Banks Sometimes: Transparent piggy banks allow kids to see coins piling up, which can be motivating.
- Practice Counting Coins: Occasionally help kids count the money inside without breaking the piggy bank, using math skills.
- Supervise Opening the Piggy Bank: When it’s time to break it, do it safely with supervision and explain why it’s a special moment.
- Talk About Next Steps: Discuss whether to spend, save more, or share the money, teaching budgeting and decision-making.
By involving adults, kids learn that saving money is part of a bigger plan, not just dropping coins into a container.
What Should Kids Do After Breaking the Piggy Bank?
After breaking the piggy bank with a hammer, kids should follow these steps to make smart choices with their money:
- Count the Money: Sit down with a trusted adult and count all coins and bills carefully. This helps kids practice math skills and see the result of their saving.
- Make a Budget: Decide how to divide the money. A simple way is to split it into three parts: Spend: Money to buy something fun or useful now. Save: Money to keep for a bigger goal or future need. Share: Money to give to a charity, gift, or help someone else.
- Decide What to Buy or Save For: If choosing to spend, pick something meaningful. If saving, find a new piggy bank or consider opening a savings account with a parent.
- Keep Track: Write down what was earned and spent. This record helps with understanding money flow.
By doing these steps, kids learn how to manage money beyond just saving. They practice making plans and responsible choices.
What Types of Piggy Banks Are There Besides the Classic One?
Piggy banks come in many styles beyond the classic ceramic pig that needs a hammer. Here are some popular types:
- Ceramic Piggy Banks: Traditional and fun to break open, teaching patience.
- Plastic Piggy Banks: Often have a plug on the bottom to remove money without breaking.
- Digital Piggy Banks: These count coins automatically and show the total on a small screen.
- Themed Piggy Banks: Shaped like animals, superheroes, or sports equipment, making saving more fun.
Each type has pros and cons:
| Type | Pros | Cons |
|---|---|---|
| Ceramic | Teaches patience and excitement when opening | Can break into pieces, one-time use |
| Plastic | Easy to open and reuse | Less exciting, easy to take money out |
| Digital | Helps track money saved | Usually more expensive, requires batteries |
| Themed | Makes saving fun and personal | Sometimes pricier, less durable |
Parents can choose based on the child’s age and what will encourage saving best.
How Does Using a Piggy Bank Build Good Money Habits?
Using a piggy bank regularly helps kids develop lifelong money habits:
- Saving Regularly: Kids learn the habit of putting money away instead of spending immediately.
- Setting and Reaching Goals: Watching their savings grow motivates them to keep saving for what they want.
- Delayed Gratification: The need to wait before breaking the piggy bank teaches patience.
- Decision-Making: Choosing when to break the piggy bank and what to do with the money builds smart money choices.
- Math Skills: Counting coins and adding amounts improve basic math.
These habits can lead to responsible money management as kids grow older and start earning their own money.
Sample Saving Plan for Kids Using a Piggy Bank:
| Week | Money Added | Total Saved | Notes |
|---|---|---|---|
| 1 | $2.00 | $2.00 | Start saving |
| 2 | $2.00 | $4.00 | Keep going! |
| 3 | $2.00 | $6.00 | Almost halfway to $10 goal |
| 4 | $2.00 | $8.00 | Good job! |
| 5 | $2.00 | $10.00 | Goal reached! |
This chart shows how small weekly savings add up and how goals can be tracked.
Frequently asked questions
What if my child breaks the piggy bank accidentally?
If a piggy bank breaks by accident, help your child carefully collect the money and count it. Use this as a chance to talk about careful handling and saving in safer containers or accounts.
Can older kids use piggy banks too?
Yes! Piggy banks can be helpful at any age to save small amounts of money and practice budgeting. Older kids may also benefit from using real savings accounts alongside their piggy bank.
How can I make saving with a piggy bank more fun for kids?
Use themed piggy banks, set savings challenges, or create rewards for reaching goals. Let kids decorate their piggy banks or use clear ones to see coins pile up.
Is it better to save money in a piggy bank or a bank account?
Piggy banks are great for learning and saving small amounts. Bank accounts offer safety and earn interest for larger savings. Parents can help kids open accounts when they’re ready.
How can teachers use piggy banks in the classroom?
Teachers can use piggy banks for money lessons, saving challenges, or class rewards. Activities like counting coins and setting class goals make money lessons practical and fun.