5 Reasons Saving in a Piggy Bank Could Be a Big Mistake

Updated

July 21, 2025

Gambar 5 Reasons Saving in a Piggy Bank Could Be a Big Mistake

Jakarta, Pintu News – Piggy bank saving is a traditional method that has been used for centuries. It involves using small containers – usually in the shape of animals or other cute shapes – to store loose change or leftover cash.

The concept of saving in a piggy bank is very simple: by setting aside a small amount of money on a regular basis, the amount can eventually become large without realizing it.

While it may seem old-fashioned compared to modern methods such as online banking or investment apps, saving with a piggy bank remains a popular way for many people of all ages.

Although there are several advantages to saving in a piggy bank such as encouraging regular savings and no fees or interest rates, saving in a piggy bank also has its drawbacks.

Here are the drawbacks of saving in a piggy bank.

Limited Capacity

One of the major drawbacks of piggy banks is their limited capacity. Most traditional piggy banks can only hold a small amount of coins and bills before they are full.

So, if you’re serious about saving money, you’ll need to empty your piggy bank frequently and find another place to store your ever-growing cash.

Does Not Produce Interest

Unlike other saving methods such as high-interest savings accounts or stock investments, money saved in a piggy bank will not increase in value because it does not earn interest.

This means that even if your money is safe in a piggy bank, it won’t grow in value.

Easily Damaged

Piggy banks are usually made of ceramic or plastic materials that are prone to breakage if dropped or hit. This can be a risk to your money, especially if you move frequently or have small children who may accidentally drop it.

Temptation to Take Money

While piggy banks seem like a good way to save, the ease of accessing cash in them can be a temptation.

You may be tempted to grab coins or slips to buy small things, which can ultimately hinder the achievement of your financial goals.

No Records or Monitoring

Piggy banks don’t provide a record or tracking of the amount of money you’ve saved. This makes it easy to lose track of how much you’ve saved and how far you are from your savings goal.

Without clear monitoring, you may struggle to stay motivated and consistent in saving.

Overall, while piggy banks can be a fun and nostalgic way to save, this method has its limitations. If you want to take saving seriously and expect your money to grow over time, considering other methods such as high-interest savings accounts or investments might be wiser.

However, using a piggy bank to complement these methods can also be an effective strategy in achieving your financial goals.

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