Lessons From My Mum- Piggy Bank Tales

Growing up I was taught to save and I did this by putting money (either the ones gifted to me on my birthday or by my parents) in a wood box built by the local carpenter. It was an exciting time for me as I get to put every naira or kobo in the box. What’s more exciting was, I could also include notes in the ‘safe’ or ‘Kolo’ as it was locally called in Nigeria.

My favourite moment is when I have to go withdraw cash from my ‘safe’ either to give my mum to get something for me or go to the shop to buy sweets for myself. I did this with a lot of excitement, sometimes desperation and anger on my face if my broomstick refuses to pick out the notes I want or picks nothing at all. Those days, when I look through the safe hole, I get excited at the green and red notes (N10/N20- 10/20Naira)staring back at me as back then, these notes were a lot of money and I could get new stuff for school or simply treat myself.

When I got a little older, I was gifted with a beautiful piggy bank with a lock. Oh how I cherished it. I kept it safe and wouldn’t let anyone touch it. By now I have mastered the art of saving and understood the need to invest.  Understanding this was priceless.

I remember travelling out of the country less than a year after I got gifted with my fancy piggy bank and had to part ways with it. That was one sad day for me- I had to give out this gift. According to my aunt, I wouldn’t need it in the country I am travelling to and since she needed something to remember me by, the bank came in handy. As painful as it was, I unlocked the bank, removed my money ( of course I had to )and gave her my little piggy bank.

Here is a very close sample of my fancy piggy bank. Mine was a square shape

Now as an adult, even though I have a bank account, I still find myself going shopping for a piggy bank to drop my 1p,50p, £1 and every change I can gather because I am sure, a time would come when I need to cash out. I remember having a chat with my friend last week and I said, rather than getting rid of my 10 and 5p’s, I will keep them in my piggy bank (I no longer call it safe)  and that will sort out the shopping bags and 17p water as you know in the UK, you no longer get shopping bags for free, you now pay for your bags when you go shopping in most supermarkets and if you haven’t got a 5 pence to complete your purchase, you won’t go out with it. Now see why every penny counts.

Here is my little piggy bank.

Another thing I do when it comes to saving is to randomly put cash in any of my bags. According to my mum, having spare cash at home helps for rainy days. Let me share this story.

One time during my undergrad, I travelled to a different city on holiday on my return, the taxi driver didn’t have change and it was a Sunday so shops were closed and I didn’t want to walk to the cash machine. Luckily, I remembered I had some cash and I paid him off. What my mum said was exactly true as having cash to lay aside saved the situation.

Another example was when I went to a restaurant in January this year. I opened my bag and saw the extra money I had randomly left. When it was time to pay, I realised the money i brought initially wasn’t enough. Rather than paying with my card, my random note paid off. Indeed laying money aside helps save for rainy days.

What are you into, do you still save with a piggy bank or do you randomly put cash away?

Let me know from the list mentioned what method you prefer to use when it comes to saving those notes and pennies or would you rather put all in the bank?

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