How old were you when you received your first piggy bank? Most of us had a piggy bank when we were growing. In general, was the first lesson any of us have in managing our money. The piggy bank has been the universal symbol of savings around the world for more than a century. In fact, the piggy first is the traditional way of introducing the concept of money management to children. That tradition is unconditional, however, is the least effective way of managing money, and most of the time, never a child learns another.

An examination of the origin’s piggy bank will show how it contributes to the mentality of the piggy bank money. In past centuries in Europe, banking institutions, officially only dealt with the aristocracy of the rich. They wanted nothing to do with most of the world, the working class. The traditionally popular the few currencies that were able to accumulate in jars or clay pots called pygg cheap. These jars are called pygg bank, referring to financial institutions and, finally, the story, a clever potter began to shape pygg jars in the shape of reality, the pigs. From there, it was just a small step for marketing to parents as a savings program for children.

But what do children really learn from the piggy? If you think back to his childhood and his bank first, you will notice that the piggy banks teach kids to save to spend. Think about what happened when the ice cream man came around. Throughout the neighborhood, kids raided their piggy banks for the coins he had saved for their ice cream treat each week. This piggy bank we first taught that we should invest our money in a cute little pig that yields no return on investment, even lower 1.2% obtained by the typical savings program. Often, money was the only lesson taught to a child, along with the idea that we must work very hard to make money. With that background, it should be no surprise to us that about 80% of our population will need to obtain financial assistance from family or government in the next decade.

When we understand that piggy banks rose from poverty, it is easy to see that the only lesson we learn is the savings to spend. It is time to abandon the old tradition of piggy and understands that it is a symbol of our traditions are not discussed in relation to the money. We can raise our children with outdated traditions that will serve them for their future. It is time that overthrew the piggy bank of his financial educator position and find better ways to teach our children how to manage your money.

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