Borrowing from Piggy Banks....

I'm sorry to hear money is tight & I hope things improve for you.

Here is my opinion
I wouldn't put money in the piggy unless you could be certain it will stay put. (for me) The idea of a piggy bank would be to teach a child the concepts of money management. Putting it in for savings & then pulling it right back out doesn't really teach them responsibility.

I have an account already for both my boys. We keep a log book for them. They are free to open & free to maintain so why not? It's cute to see a written log of gifts, such as $10 from grandma for my first birthday.

I'm a much older mom, so money is no longer tight for us. However, I have been through some very tough times.
Just keep what you need out of the money they get for gifts & put a tiny bit of it aside for them. Banks don't care if you take them in to deposit $2. Kids get a kick out of going to the bank. Then let it stay put.

Good luck!

honey ive been there too many times before. My husband is a law student, and I am a part time server. I feel like I will be saving for my childrens future tomorrow, but they need what they need today! Know what I mean. Ie() food on the table, diapers, heat in our house, gas in the car). Believe me I know that it is heart wrenching evreytime you have to break their bank, so to speak, but you giving them what they need today is what matters. Good luck to you and your family. My only advice is as hard as it is, is to not let your children know that your family is hurting financially as much as they are. Because they know when things are tough, and they should be children. Honey I've been there many times, and continue to do so. Let's look towards the future.

Best wishes-
D.
Mother of 4 yr old son and 2 yr old daughter.

It sounds like the money has only been used on necessities. I think as long as the money was spent on important items it's fine to take from the piggy bank. I have to believe if you had the resources for food, gas etc... you wouldn't have touched it.

Just make sure your boyfriend isn't taking advantage of the money.

Once your finances improve you can begin saving for the children. I know how "guilty" this can feel at times because I've had to drain my kids several times. I try not to beat myself up over it because at the time there wasn't an alternative.

Good Luck!
M. M.

This was a pet peave of mine with my ex husband. I put all the money my children received in cards and such into their piggy banks. My husband kept taking it when he needed cash to get a soda or whatever at work. He never put it back. It aggravated me to no end. I kept telling him not to do it, but he didn't listen. Eventually, there was nothing left. I don't know what to tell you except maybe hide the piggy bank from your boyfriend.

Hi. It sounds like you feel guilty doing this every time. What I would suggest doing is setting up an account for your son in which you are not allowed to take any money out. My husband and I started a college fund for my son through Fidelity. It's called Fidelity 529 college, which is tax free. We have a certain amount put into it each month. When he turns 18, he can take it out and use it hopefully towards college. As long as you keep putting money into a piggy bank, you will always find yourself borrowing from it and some times not putting any of it back. Good luck!

I have a 4 year old daughter with a piggy bank that we have had to borrow from once in a while. She knows that it is hers, and we respect that. We ask her if we can borrow if we need to, write out an IOU so she is still in control of it. She makes sure we put it back in her piggy bank too...keeping us accountable. She by no means controls us, and it is teaching her a good lesson. When she gets $10 in her bank (all 1's so it looks like more to her) we take it to the bank and she tells the lady her acct. number and counts it all out. We also have the account frozen, so we can add but not take anything out of it until a certain time of year. Helps us as her parents to budget better, and starts the lesson in saving for her.

Best of luck.

I like to look at piggy banks for my kids as being for my children's welfare. If I needed the money to feed them, then by all means, pulling from them is fine.

However, I have two caveats to that:
1) I don't touch their gift money. If Grandma sent them 10 bucks for a birthday- that is their money. If they want to LOAN it to me, I pay it back.
2) If it is in their college saving, I don't take it. To prevent myself from even being tempted, I put all educational money in a bank account specifically for that.

If you are worried about the money being spent foolishly, put it in a bank account, not a jar. It's easier to track expenses from a bank account than from a cash fund.

I have to laugh at this and have to admit my sons piggy bank is 60 dollars short too and has been now for a few months =0( I too have borrowed and put back and yes its true we are the ones that give the money to be in the piggy banks how else would it get there. I tried to plant a money tree one time but my tree never grew (just a joke) lol. My husband and I are going to open a savings account at our bank and this will keep me from borrowing from my sons piggy bank, so I think that that would be a good idea for you too. Hope it works for you!

Go to the bank and open a bank account for your children. You and your boyfriend will not be tempted to take the money. If you absolutely need it, you can go to the bank and take it out (the account is really in your name since your child is a minor) Your child will enjoy and learn from going to the bank to make deposits.

YOu can open an account for the child and if it is in your name your boyfirend can't take out maoney. 529 plans are good too. ANother option is to get a piggy bank that won't open. WOuld he really break it to get the money?
He needs to look at it as isn't not his money to take. Would he take it from your parents piggy bank and not put it back? Or a neighbors? Just trying to look at it in a different light.
Good luck! That's a rough one!

Maybe you should start a 529 account so that way you can't take the money out of it after putting it in, and that way you won't be tempted and plus you'll be saving for your children's college.

I think many have resorted to the piggy bank and I would think that most have returned the money.
Even though the child is to young to realize, it is only fair to return the cash since that is what it was put there for.
It is hard to put the money back, but if you look at it as if you had borrowed it from a parent or friend, they would be looking for payback as you would if it was borrowed from you by someone else.
My son 10 has $520.00 and I am looking to put it in the fastest growing account. I am thinking of a 12 month CD or other way.
I guess my final word is, yes, return what is borrowed.
R.