What is a 'piggy bank' in a bank and should you use it?
Answer
It's a convenient mechanism for small savings (rounding/up percentages). Suitable for starting, but for large sums compare rates with deposits/savings accounts.
Was this answer helpful?
More questions in this topic
- Where is the best place to keep savings?
- How to protect savings from inflation?
- How much should be in the safety cushion and where to keep it?
- How to distinguish a safety cushion from savings for goals?
- Where to start saving if you can't save anything right now?
- What percentage of income is best to allocate to savings?
- How to save if income is irregular?
- What to look at when choosing a deposit besides the interest rate?
- Is a savings account or deposit better for a cushion?
- Is it worth keeping savings cash at home?
- How to distribute savings among different instruments?
- Is it necessary to open a separate account for savings?
Related questions from other topics
- Bank accounts and cards: how to use cashback?Personal finance · Bank accounts and cards
- Bank accounts and cards: how to split money across accounts?Personal finance · Bank accounts and cards
- Bank accounts and cards: how many cards/accounts are needed for order?Personal finance · Bank accounts and cards
- Bank accounts and cards: how to reduce fees?Personal finance · Bank accounts and cards
- Large purchases: how to choose a savings period?Personal finance · Large purchases
- How to use separate accounts/cards for budgeting?Personal finance · Budget and planning