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The Piggy Bank Budget

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Logan Lamb, Junior, Sheldon High School

          Budgeting can be very difficult for some people. I am one of those people but this project is helping me understand the aspects of managing my money and how important using a budget is. Since I am just a beginner and I am learning how to handle my money I chose to do a piggy bank for my Show-Me the Shreds project.  I have learned that even just saving coins and dollar bills add up to  more than I would have ever thought.

           Piggy banks portray an effective part of budgeting. They conceal the money so you literally cannot see it. They make the money harder to get to so you cannot just go and grab the money to spend it. The piggy bank tends to slow you down a bit and hopefully makes you think before you crack open the piggy bank to spend it.  

           By experience, I have learned that I have really been using a budget for much longer than what I thought. Since I was young, I have put my birthday money and other monies I have received in a piggy bank and kept a list of what I wanted to spend that money on. If you think about it, that is how a budget works. List your income and then list your expenses or what you want or need to spend your money on and plan where you will spend it. I have learned through class that I am not earning any interest or income on my money in the piggy bank and I should really give up the piggy bank and take my money to a bank so it can earn a little interest over the time that it is in the bank. I also realize that by putting my money in the bank I will have to think about what I am spending it on before I go withdrawal it from my savings account. As I grow up, whether I use a piggy bank or a real bank, I have most definitely learned that everyone needs to use a budget to get the most out of their money.