Opening My Piggy Bank

Posted by Fitz Villafuerte under Money Saving Tips on November 11, 2010

Keeping a piggy bank is not just for kids.

Anyone who wants to save money can do what probably is the most straightforward and simplest way to be thrifty – and that is to have a piggy bank at home.

A couple of nights ago, I had the pleasure to open my piggy bank which is already full. Yay!

My piggy bank is not your usual piggy bank. Why? Because it’s a recycled Pringles container. icon biggrin Opening My Piggy Bank

Frugally speaking, why would I spend to buy an actual piggy bank when I can just reuse this, right?

I’m not good at doing crafts so you have to forgive the very crude coin slot I managed to slice on the cover with some scissors. icon razz Opening My Piggy Bank

piggy bank Opening My Piggy Bank

I started using this homemade piggy bank around first week of June 2010. I decided to make things interesting and make this a Picky Piggy Bank.

What’s that? Well, basically, I followed three rules in saving money for this:

  • I will only put in 5-peso coins.
  • Throughout the day, whenever I come across a 5-peso coin, I have to keep it and NOT spend it.
  • When I get home, all of the 5-peso coins I have MUST go to the piggy bank.

Pretty simple right? But I should tell you it was not easy at first.

opening the piggy bank Opening My Piggy Bank

A few weeks into it, I had several days when I forget that I was supposed to keep those 5-peso coins and made an oversight of spending them.

Other times, I would forget to “deposit” the coins I collected into the piggy bank, which caused my coin wallet to weigh extra heavy the next day – not comfortable at all. icon sad Opening My Piggy Bank

But alas, I got the hang of it and would always remember. And then new challenges faced me.

Parking in public places in the city, you would always have those people who assists you in backing up your car. Customarily, my “tip” to them would be… you guessed it, 5 pesos.

And the same goes for gas attendants who would check my car or clean my windshield whenever I pass by the station to get fuel.

coins Opening My Piggy Bank

There was a time when all I had left were 5-peso coins and my smallest bill was 50 pesos. Surely, one would not give a 50-peso tip for those tasks!

So, during those times and similar situations, I would just break the rule and spend the coins. (It’s my rule anyway :P)

Anyhow, so there I was, feeling like a kid and happy with my small accomplishment. I organized my coin savings and counted how much I was actually able to save in a span of around five months.

five peso coins Opening My Piggy Bank

My total? P2,085.00 – more than enough for me to buy a round trip seat-sale plane ticket to Iloilo next year for the Dinagyang Festival, or maybe Cebu for the Sinulog Festival.

Or I could save all of it and do this again for another five months and hopefully, by April 2011 – I’d have around P4,000 to spend for a beach vacation during Holy Week.

Of course that’s just me daydreaming, and if you know me well enough – you’ll know that half of this will go to my savings account while the other half, will be spent on an expensive dinner. icon biggrin Opening My Piggy Bank

Anyway, how about you? Do you keep a piggy bank?

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31 Responses to “Opening My Piggy Bank”


  1. Micamyx says:

    Thanks for this article :D I have two piggy banks (ok, it’s not a piggy – one is a cow from Nuffnang and one is a house from 7-11 :D) The first one is filled with coins i collected from my travels abroad (nagkahalo-halo na LOL) and the other one is being filled up with 5 peso coins. Prior to these two, i bought a piggy bank somewhere in Makati when i saw an old vendor. I bought it and started inserting 5 and 10 peso coins only. There was a time wherein i ran out of money (as in total zero – GC na lang pangkain LOL) then i decided to break the ceramic piggy bank. I think i was able to collect Php 1,500+ that time. It’s not even full! :D

    I also have this ‘money figure’ i bought in Puerto Princesa. Accdg to the vendor of the stall, this brings monetary luck of you put coins into it. Ayun. Ginawa ko naman and i think it is working :P

  2. rose b. says:

    i had two pigy banks made of kawayan which i bought for 20 each.
    every time i have coins whether its a 1 peso, 5 or 10 i put in inside my piggy bank.
    i think the most important here is developing the habit of saving.

  3. ceemee says:

    Amazing how mere coins could amount to much if saved wisely. I also allot a sort of piggy bank for my daughter, it’s actually a doll that used to store jellies inside. I told her that if it becomes full, she could buy whatever toy she wants. So now, she doesn’t “kalat” her coins around the house, she puts them inside. I just dunno how to buy her toys with that “mismo” or to have it changed at the bank? But if it was changed, I fear she wouldn’t get the concept. She’s just 3 years old.

  4. belle ecleo says:

    thank you i have learned to save money by little steps my dad ask me to read this article and its awesome to save money i’m going to save money for the future

  5. jubert says:

    Nice of you to post this.

    I have what I call my piggy bowl for each coin type (five and ten pesos share the same bowl). I don’t spend any coins except those that I leave on the car coin compartment which I fill-up to give as tips. For over 4 years I’ve been doing this and incrementally deposit them on a separate passbook account. Guess what, i have accumulated 58K+ as of last month (including interests and no withdrawals). :)

    Sometimes we take coins for granted as if they are “value-less” which can actually be of some value when seriously considered.

    More power to your blog.

  6. Troiks says:

    wow kaya pala wala nang pang sukli sa aling nena, nasa yo pala ang mga coins. Anyways, in my 24 yrs of existence, i have not tried saving in piggy bank; however, i have this huge cigarette from blue magic. I collected five peso coins and its already almost half full. Planning to open this this new year.

  7. Benn says:

    Great! isn’t that so simple and pressureless.

    I’m an OFW and I used empty box of safety shoes. I bought bulk mail envelop first. It became my habit to put a bills like SAR 5, 10, 50 in the envelope and properly stored inside the box. I labelled the box like the date started and date to be opened. Of course, it is normal to open it a week before vacation period. And you know how much I save for one year,…. Yes… its SAR 3,400 equivalent to Php 39,100. Wow, di ko namalayan. Ang sarap ng feelings habang binubuksang isa-isa ang mga envelopes.

  8. Itchy Rich says:

    it’s nice to know that there are other pro-frugality people who do this. :)

    you can also use cans (e.g. pineapple juice can) so you won’t be able to withdraw from it unless you really want to open it :P

  9. garyleo says:

    Nice article!

    i too have a piggy bank wherein I put 5 and 10 peso coins left at the end of the day in my pocket. this is done with the help of my 2 year old daughter. I usually let her insert the coins into the piggy bank. I hit two birds with one stone: saving and bonding with my daughter. and after a month or two months i usually “collect” it and use it to buy stocks in Ayala or Filinvest. pakunti kunti but slowly and surely, this “little savings” everyday help me accumulate and buy more stocks.

    More power!

  10. blankPixels says:

    This post reminded me that I’ve got a big cigarette savings bank (I call it my ciggy bank) that I haven’t used yet. I also do that, save my 5-peso coins and put them all in that ciggy bank when I get home. After I started our computer shop here at home a few months ago, I stopped doing it. I guess it’s because most of my money are 5-peso coins. *LOL* I guess I just forgot all about it.

    This post and the comments here inspired me to go back to using my ciggy bank again. Thanks for sharing! :)

  11. Winston says:

    I have a box full of shiny 1 peso coins on my desk. :D

  12. arbee says:

    It’s from this site where I got the idea of starting with the Piggy-Bank idea again. I tried before back in elementary and it helped me well. I didn’t know why I stopped it but good thing I started it again last year.

    Soon I will be opening my piggy-bank. I wonder how much I am able to save this time.

  13. aylin says:

    Great!

    I have 2 piggy bank, one in the office and in our house. Every week i have to consolidate all my 5 peso coin and put it on my piggy bank. It’s still best to have money save even how big or small it is. =)

  14. we do have a “piggy bank” and what we’re using is an empty formula milk can of our daughter :) putting a hole and sealing the sides with tape to make sure we’re not tempted to open it. and it works! all our coins (all denominations) go to that coin bank. sometimes, we let our daughter put the coins herself so that she can learn how to save money when she grows up. the money we saved from that coin bank will be used to buy an accent piece of furniture for our new home soon :) we’re now on our 2nd can yipee!

  15. Fitz says:

    Wow so many responses. Thanks everyone!

    @Mica, that’s interesting, I want to see that “money figure”!

    @rose, indeed, saving should be developed as a habit.

    @ceemee, your daughter is very lucky to be taught about saving money at an early age. :D

    @belle, yes, you should follow your dad’s advice!

    @jubert, wow, P58K is big!

    @Troiks, haha, ihagis mo sa loob ng bahay niyo yung coins sa new year, para “swerte” :P

    @Benn, that’s true, no matter how big or small – masarap talaga magbilang ng pera, specially if it’s from your your money saving habit

    @Itchy Rich, nice name :D and pro-frugality people rocks! :D

    @garylea, you are actually hitting three birds with one stone because the money you saved, you are using it to invest – very smart!

    @blankPixels, LOL at ciggy bank – witty name for it.

    @Winston, yan bang coins na yan ang ibibigay mo sakin pag nag-carolling ako sa inyo this Christmas? :P

    @arbee, congrats – hope you saved more this time than the last one!

    @aylin, I agree – big or small, everything counts!

    @shoppingsells, yeah, piggy banks are a great way to save for simple things that you want to buy, it’s a big lesson on delayed gratification :D

  16. Nicely says:

    Thanks for this post, now I remember I also have a piggy bank which I have taken for granted for quite a while, say I had it last January and it’s less than two months before the year ends, I haven’t filled it yet, even half of it :’( Sadness…

  17. Anne says:

    Hi, I have actually started the exact thing using P5.00 a few months back. The interesting thing is that my kids got interested with the idea and did their own share filling up the “piggy bank” which is actually an empty peanut butter jar. What’s interesting is the kids consciously keep their P5.00 change to put in the jar. I think it’s a great way to teach children to start saving. Now to make it more challenging, I made another container for P10.00.

  18. Rins says:

    I never had a piggy bank … in whatever form or shape. This is interesting! Although I do need lots of coins for our businesses. Maybe I can do a 10-peso coin piggy bank since this is the least used. Okay, I need to find a can of Pringles or something like that. :)

    Love the article, Fitz!

  19. Piggy banks is for kids. Adults need an elephant bank

  20. Julius says:

    Hi fitz! I have a picky piggy bank too, only my piggy bank would have shiny coins in it :p

    too bad i stopped depositing. Last count was around P2k..

  21. rayne says:

    meron din akong piggy bank,, kaso para mas challenging,, guess what kung mag kano nilalagay ko?? =)

    20 peso bill =),,sa una ang hirap ..syempre lagi ganun ung sukli sa isang daan mu..pero habang tumatagal masasanay ka na din =)

  22. Let says:

    Ive also started doing the same thing in August. It’s meant for the Davao trip for me and my boyfriend. I computed it before I started, the goal is 20pesos a day, and by June (before our trp), most likely, we will have 7K. As of now, we’ve reached 2k+. It wasn’t that hard for me to start since I’ve got used to saving. But this one, I find it so fun coz you save a little everyday and you’ll just notice you get a lot when you count it. =) It’s rewarding.

  23. Flor says:

    Hi I got interested in this article ‘coz a few years into our marriage, my husband developed this habit of putting in 5 peso coins in a jar, after that he progressed into a 5 gallon plastic bottle of Minola cooking oil, in a span of 5 years I think he was able to fill 4 or 5 of these gallons and a smaller jar. Boy, I had a hard time exchanging the coins for paper money in the bank, it was too heavy and I had to do it in batches but it was all worth it. All in all he was able to save 39k which we later used to buy 4 plane tickets for our trip to Surigao (that was before the plane promos when the tickets costs 6k each). It has really taught me a lot about these coins we often take for granted.

  24. hi there, just came across your blog and i promise to read it every time i can. :)
    i have a piggy bank at home, but i often end up spending the coins, but i’ve already saved some money, guess its time to upgrade and have another piggy bank, for 5 and 10 peso coins only :)

  25. Andrew says:

    hey…can’t believe so many ppl share this habbit of mine..:)…i too hav a piggy bank…its almost full…but i’m confused abt wat to do with the money i saved…will b so gud if i bought something for my galfriend :)…plz suggest :) loved your blog.

    take care :)

  26. Erlaine says:

    Just wanna share Fitz, we were able to fill up 3 cans of Kelsea’s formula milk with lots of coins. And guess what? We were able to use it for landscaping :) We’ll continue this habit of ours of having “piggy banks” whatever the shape is LOL!

  27. Wena says:

    your post and the comments inspired me to start saving on piggy again. my previous attempts to do so always fails. I’ll do the Picky Piggy Bank habit.

  28. RONA says:

    Hi Sir Fitz,
    Thanks for the nice article.
    Ito naman po ang maisi-share ko. I must admit na di po ako avid fan ng piggy bank hehehe. feeling ko po everytime may iniipon ako, nagiging suki din ako ng hospitals dahil parang doon din napupunta ang mga ipon ko :)
    But i have 3 kids (12,4 & 3) & I don’t want them to grow up same sa nakalakihan ko. Kaya ito, sinasanay ko silang mag alkansya — made from empty container ng Stick O. then tinadtad na lang ng stickers ang katawan para hindi see through & naka tape para di pwedeng iopen till mapuno.
    Meron kaming daily allowance sa office & I see to it na every saturday ko lang kukunin & nagpapareserve na ako ng 105.00 worth na 5 peso coins. katumbas na rin ng P5/day (P35/kid), & ihuhulog nilang lahat sa alkansya nila.
    Malapit na ring mapuno & I’m planning to them a bank account for kids.
    Thanks po uli..

  29. Emily says:

    Nakapuno na po ako several times this year…ang saya po:)

  30. David says:

    I too have a piggy bank. I started last June putting 1 and 5 peso coins, it’s almost full and I’m excited to count it already before Christmas. The idea of putting all 5 peso coins that’s left in my pocket in a day is a good idea, I will start doing it soon. I also shared the idea of piggy banking with my staff and they were happy to learn to save even it seems it’s hard to let both ends meet.

  31. Ayie says:

    I have been keeping a piggy bank for years now and it never fails to excite me when the counting begins. The largest amount that I saved in a ‘piggy bank’ (it was a broken 5-gallon plastic water bottle), the counted amount was a little over P18,000. But that was for over a year of saving and it has mixed denominations. Another year of saving gave me P12,400 (this amount I used for opening a BDO savings account for my baby girl). Then I moved on to a strictly-P10 and P5 peso coins only piggy bank. When I first filled the bear-head shaped coin bank, I saved P7,240 (this will be added to my baby’s bank account). Now, I am on the second round of coin saving, and it’s already half-full. Cant wait how much is the savings when this round is done!

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