Traditional piggy banks may take the actual shape of an actual pig or another animal or object. Others look like round or square containers with fun graphics like princesses and unicorns. These types of piggy banks are especially popular for kids since they’re fun, simple and creative. Simple piggy banks targeting adults may instead resemble small square safes without any electronic components and may be transparent. Any piggy bank will accept coins, but you’ll need to shop around if you also want to insert bills. Some models have a large slot that can take either coins or bills, while others have separate coin and bill slots. Although the jar-style banks usually just take coins, you can always unscrew the lid and put bills inside; however, any electronic sensor won’t detect the extra money to update the balance. Piggy banks come both in simple and high-tech forms so that you have many choices. These differ in factors such as design, usability, maintenance and suitability for users of different ages. Also, some are reusable while others need to be broken to access the money. The most sophisticated piggy banks require batteries and offer additional functionality to count or protect your money. Some look like plastic jars with a special counting sensor on the lid where you insert the coins, and these have a small display that shows the current balance. More complex piggy banks look like small ATMs and may accept an electronic code to access the money inside. These often display the balance on a small screen and may even speak the balance when you deposit money or press a button.

Whenever you need a place to conveniently put your loose change, a piggy bank has long served as a classic solution for kids and adults alike. This container makes it easy to save up your money since you simply insert your money in the piggy bank’s slot. When you want to use the money or deposit it into a bank account, you just find the opening and get your cash. Keep in mind that non-tech piggy banks come with the downside of needing to physically count what’s inside to know the balance. While this may be inconvenient for adults, it can help children improve their math skills. If you want to help your child develop money management skills, you could offer them some starter change and encourage them to put away part of their allowance or special occasion money in the piggy bank. It also helps to encourage your child to save for some specific goal, whether that’s to buy a new bike or an upcoming video game. When your child reaches an appropriate age, you might get them a bank account where they can deposit their piggy bank funds occasionally.