Piggy Banks That Count Your Money

Saving is difficult for many people. To teach children how to save money through easy small steps, parents give them piggy banks to start to count their money. Adults too, utilize piggy banks to reach a particular savings goal more easily. However, filling up a piggy bank is a serial process which complicates saving for multiple targets in parallel. Saving in the present day can be a very uninspiring task for many people. As money becomes completely digital, people misconstrue its worth, lose financial context and subsequently make poor spending decisions. Studies have proven that people don’t feel a strong sense of loss when they make purchases with digital money.

Piggy Banks That Count Your Money

If you are searching for the best piggy banks that count your money then gobabymama.com has some reviews and tell you some of the best around the marketplace online. Please note that some of the links below are affiliate links and we will earn a commission if you purchase through those links.

Best Overall: Digital Coin Big Piggy Bank

Adding coins? Push coins through the slot one at a time. The LCD Display will blink showing the value of each coin. When it stops blinking, it will display the total. Alternate way to add coins? Remove the lid. Add coins to the Bank.

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Best Budget: Digital Coin-Counting Money Jar with LCD Screen

A NIFTY LITTLE BANK FOR CHILDREN OF ALL AGES. Surprise them with the Discovery Kids Automatic Coin-Counting Money Jar and watch their hard-earned cash pile up while keeping track of their finances! The money jar’s intuitive design features a built-in digital LCD display and add/subtract buttons that monitors how many coins are placed in or taken out of the transparent container. A convenient twist-off lid makes retrieving pennies, dimes, nickels, and quarters easy for boys and girls!

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Best Cutest: Younion Piggy Digital Coin Bank

GREAT FOR THE WHOLE FAMILY. Your child will have a blast depositing their coins into the money jar while parents can enjoy seeing good financial and spending habits develop over time!

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Best Piggy Banks That Count Your Money: Lily’s Home Kid’s Money Counting Piggy Digital Coin Bank

Digital Piggy Bank from Lily’s Home is a real money hog! When you insert a coin, he displays the amount you just deposited, plus the running total. He counts U.S. coins, including pennies, nickels, dimes, quarters, half-dollars and dollar coins. It’s fun for kids to watch the number grow as they save their money for toys, candy and gifts. You’ll love watching your kids learn the value of a dollar as they discover how rewarding it is to save.

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Best High Tech Piggy Bank: Jumbo Digital Coin Counter Bank & Savings Jar

Have coins laying around? Hate paying coin sorting fees? Our line of unique Digital Coin Sorters will fit your every need. From teaching your kids how to manage money to keeping track of your savings. Almost perfect for you or to give as a gift!

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Struggle to Save Money?

Saving and mindful spending is a skill that not many are masters of. Behavioural economics says that the reason behind this are a few psychological challenges that people face, around saving for the future

Opportunity cost

Encouraging people to save for a meaningful goal means getting them to think about the opportunity cost. It means that the money spent today, won’t be available to spend on something else tomorrow, and vice versa: to save up for tomorrow, sacrifices need to be made today.

Delayed gratification

Saving is tough. It pitches the concrete against the abstract. Instead of buying that delicious pizza today – that one can see, touch and immediately eat – money is being saved for some future objective. It means delaying gratification – something humans are usually pretty bad at.

Pain of paying

People tend to feel more pain when the time between consumption and payment is short. Which is why paying for a meal on a credit or debit card, for example – which in effect delays payment – somehow does not hurt as much as paying for it in cash, which is immediate. This encouragement for credit cards further makes it difficult to judicially spend and hence poor savings for future goals.
These are a few reasons why people have problems with saving. The skill of saving has to be built with practice and appropriate tools or technology that is designed taking these psychological weaknesses into consideration.

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How to Develop Saving Habit

Behavioral Economic Strategies

Researchers have been trying to motivate behaviour change for the benefit of the users. Behavioural economics strategies can be used in a good and effective design of a technology that can inculcate the right saving habits in people over time.

Mental accounting

Like a company allocating expenditure to different budgets, as humans, we often allocate money to spend on certain things, like bills or food. In our heads, that money is already accounted for and cannot be accessed for daily purchases.

Implementation intention

Concept of feeding the piggy bank with intentions or goals results in much better savings than feeding it with just money. Every time users look at the piggy bank, they are reminded of their intention to save. This physical representation of commitment proves to be a strong motivator toward saving.

Emotional encouragement

An emotionally-driven reminder about the saving goals or rewarding messages on goal completion can help encourage people to save more.