I don't know about you, but I make multiple piggy banks. I already have a coffee can used as a bank for travel, and I just made one for charity months ago. Paypal is another piggy bank - I'd spend about 40% or less of the money received from the Ad Program on HubPages (the earning threshold is $50, so I'd limit my spending to $20) on online purchases.
I'm (hopefully) due to get a job, and my mother and I agreed to divide my salary in fourths (one quarter for savings, another for loans/mortgage, one for travel, and one for me to spend). But of course I'm planning on not spending all of my portion in one place. 10% of my salary is going to charity. I'd save 7% on taxes. And the remaining 83%?
Well, if I don't spend all my money on wants (polymer clay, beads, etc.) I'd set that money aside for a Disney Annual Pass (even a Premium one because of free parking) and call that a pass for staycations! Or even better, my student loans. (Well, because I'm also doing a legit network marketing business besides my future job, I can knock them off fairly easily.)
Do you make at least 2 piggy banks? How would you label each one?
I used to do the change-saving thing. But it seems that all the damn stores get very excited and obstructive these days whenever I'd try turning in the rolls. So I finally gave up and said to heck with it. Oh, well...
Sure! One is paypal, where HP deposits it's only income. That's play money - vacation, trips, etc.
One bank savings account is for taxes and insurance, and another is for emergencies or, when it grows large enough to leave some for unforeseen events, home improvements. We want a carpet and a couch now, and have nearly enough for the first.
Congrats on being near the goal of saving for a carpet and a couch! I am in the process of making another 2 banks (one for the savings for big ones besides my trips in and out of state, such as the aforementioned Disney FL Resident Premium Annual Pass or that college loan, and buying a waterproof money keeper for emergency funds).
The one for savings will be covered in polymer clay cane slices (to indicate special savings). I already have a coffee-tin bank for vacations, a wooden bank for spending, PayPal, and the aforementioned bank for charity.
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