The Old Dog Asks: Has The Piggy Bank Really Died?
Is One of Life’s Simple Pleasures Gone?
The “piggy bank” has long been a part of western culture. For hundreds of years it has been used as a way to teach children the importance of saving money. Is this coming to an end? For me, here in Switzerland it already has!
Is a time honoured way of saving and teaching how to save now gone? image pixiby.com
The Way it Was Before Something Shocking Happened!
For as long as I can remember, every day when I arrived home from work I would “clean” the change out of my wallet. I’d keep a few coins for parking etc… and the rest I would put into a jar. I’d keep doing this for a year or two and then finally the time would come to roll up the coins and take them to the bank. The last time I did this I deposited just under $1’000!
It was always exciting to dump all of the coins out on the table and then roll them up before heading off to the bank.
What Has This Method of Saving Accomplished Over The Years?
- Saved with my then girlfriend to get married!
- Saved for vacations!
- I taught my son to do it and have deposited over $2000 in his account over the years!
This "piggy bank" was a gift to my son when he was born. It is no longer in use!
What has Changed (no pun intended)?
The last time we went to the bank to deposit about $1,000 of change saved up over several years we were shocked when the bank told us that they would charge us 20% to make the deposit! 20%! Can you believe that? That means we would lose $200.00 even though WE did the work of rolling the sorted coins!
In a state of shock and disbelief we brought our rolled up coins home, dumped them back in the jar and have proceeded to take out scoops at a time in order to pay for things! It’s very annoying both for us and for the shop keepers!
This is all that's left of the our once filled "piggy bank". It's going to be tough spending such small change!
In Our Case The Piggy Bank is Dead!
Yes, for us the piggy bank has died and I’m sad. I’ll miss it! "They" have stolen a part of culture, a good method of saving, and good clean fun!
What do You Think?
- Do you use a piggy bank?
- Do you train your children to use one?
- Is this another sign of even bigger changes in the banking industry?
I hope that you found this story about the death of the piggy bank interesting!
Until next time,
@kus-knee (The Old Dog)
Remember, I reward the best comment(s) on each of my posts with my "The Old Dog is Throwing You a Bone" program! So please re-steem and follow so that we can spread the wealth!
They don't make a piggy bank big enough for me so I use a large pickle jar and save all my change.
Love your gifs! Fantastic!
I have even used huge wine making Jugs in the past!
yeah - you are not alone lol I have used all kinds of leftover jars XD! Cheers!
I still have the piggy bank I have had since my teen years, and I still dump a bunch of coins in there. Last time we emptied it was about two years ago; rolled the coin myself and ended up with about $720... or enough to almost pay for one of our tickets from the US to Denmark, that year.
They have coin machines at many of the supermarkets in the US... I think the stores lease them, and the deal is that it costs 12% if you want the cash back, but you get full value if you agree to get a voucher only good in the store. My local bank still takes my coins without a fee, but I think it's because I have a commercial account for my shop. Cash is just not "king" anymore...
You're still allowed to have fun! I'm happy for you.
I guess I'm saving up Steem pennies now. I see that your comment is now at 0.47 so put them in your steemit jar. Do I see a trip to Denmark in your future?
At this time, Steemit is definitely a "savings bank" of sorts, for me... I'm planning to keep whatever pennies I get here invested in Steemit, and will probably Power Up with some, as well.
Hmm I think I had one when I was younger, but I don't think I did much with it. It didn't make much of an impression anyways. It's not really something I would think of for my future kids, either! I guess it's an age thing (I can't call myself an old dog, just yet ;-) ).
I guess it's to do with the whole world shifting to digital. 20% sounds like a lot though! I can't believe they can charge that and get away with it.
Yes 20% from one day to the next!
It seems like banks don't really value your deposits or dealing with the paper cash aspect of things or even checks. Most transactions are done electronically now. There are many advantages to this including less use of copper or other metals in low value coins. These coins are often lost and the cost to produce them is very high environmentally. Counterfeiting paper money is also an issue.
On the flip side having no cash will make it easy for banks to head towards negative interest. The value of deposits is minimal in a world where central banks flood the market with very low interest loans. Another good reason for moving towards cryptocurrancy imho.
I lean toward your second paragraph as the most likely explanation.
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@kus-knee I never had a piggy bank because I was like my mom when I was a kid - a one day millionaire (shame - not anymore) but my younger sister had .. so I can't tell how that feels if you're a child. Now.. it's a different deal isn't it. I'd rather mum about it -
as for the piggy bank being alive I think it still is here - where I am and where I came from. We still have this kind of atm machine they give couples who open up a bank account for their children -
source
I had a friend who did this - it was a bit embarrassing going with her but she seemed very excited doing it too :D
I don't have kids but I have nieces and instead of "banking" we're teaching them "jars" - a kind of a money management system to allocate your money to make sure it makes you more money. That's to train them to allocate their money - in many things to make sure they don't ran out of it and they can deal with it properly. This part I envy - I wish I learned it earlier - I would have been out of the rat race a very long time ago .. if only...
I think your son is freaking lucky to have a parent like you who trains him this way - financial education is very essential. The earlier one acquires it - the better!
Very good points @englishtchrivy ! Thanks for your visit and your support!
@kus-knee thank you!
I sometimes want to resist but you often raise very good questions I can't help it hahaha - did you notice I applied the same in some of my posts lately?
I like what you're doing so I copied it. Thank you for the idea! I hope you don't mind cheers!
We all need to help each other and learn from each other. I had the feeling from some of your other comments that you were discouraged with Steemit. It's good to see that you're still plugging away!
@kus-knee discouraged - not really
frustrated yes.. but not with Steemit - just some characters here
but that's normal everywhere so we will just have to deal with all of that
but I'd be damned to stop and accept defeat hahaha
so yes I'm moving on like you Old Dog! unless this place crashes
Thank you for this comment - that means a lot.. back to work now - unplugging from this comp :D
Have a great day and regards to the bird!
And society wonders why no one wants to save money - it has become an expensive to save money, interesting indeed. Between your example in this post and the fact that savings accounts don't even keep up with inflation, we now lose by saving, yes interesting times indeed.
Have they started with negative interest rates where you live?
Nope, it looked like the U.S. was headed that way but the Fed finally started tightening. We got an uptick with the new president as well. All rates are still historically low though. P.S. - I've been to Switzerland for a work function, enjoyed it very much.
Thanks for the info. Yes Switzerland is a beauty!
In my eyes the main problem is the fight of politicians and banks against the cash money in general. Without that it is more easy to impose negative interests and control all transactions more easily. Without cash money it will be very easy to freeze all your money immediately if you don't "behave". Together with the cash money part of the freedom of the individual will vanish.
Good that at least there are crypto currencies ...
I think that your reasoning is sound!
I don't have a piggy bank, but...I have " The Old Dog Bank"!!!
The banks are the worst, and I keep using my coins to buy candies, bubblegum, chocolates, soda, etc.
I'm the "Highlander Child"! (;
An artistic man will always find a fun and artistic solution!
(;
It's the same here. My bank would also charge me. But I found out that kiosks and bakeries really appreciate if I bring them my coins. They change them into bills when they have a minute (when there are not many customers). This way they don't run out of change too quickly and I can use my money with less stress (without annoying the cashiers).
I like your thinking!
Nice blog @kus-knee The Old Dog
Cryptocurrency is the new piggy bank💰
By the way there something special about your blogs, maybe because its unpredictable.
You've got a good point there @araki!
The Old Dog is Throwing You a Bone For Your Nice Comment!
Please check your wallet!
Remember: I reward the best comments on all of my posts so continue to follow me and tell your friends!