THE PIGGY BANK PROJECT

Adam Puff handles a lot of wealth, but he knows that every penny, nickel, dime and quarter counts, and the best way to turn small change into big money is to start a savings program at an early age.

Haddonfield Financial Planning, in partnership with Republic Bank, PNC Bank and TD Bank, is helping kids to jump start their savings program, manage money and help with the national coin shortage.

Parents and kids may pick up a Republic Bank tote bag of banks at the Haddonfield Farmers’ Market on Saturday, September 18th, or by visiting Haddonfield Financial Planning. Each bag contains 4 child-friendly banks, along with helpful savings and investing tips. 

Children are encouraged to employ each bank for a specific reason, ideally to hold funds with intent to invest, save, spend or donate.

Invest

Invest with the Haddonfield Financial Planning little piggy!

This is money for the long term and a goal of growth. The concept of investing money for the future is a challenging one for children, but an interest bearing savings account or a US Treasury Bond is one way to begin. Choose an area to invest this money, and each month, review the statements with your kids so they can see how the money potentially grows. This will help teach them about the power of compound interest.

Save

SAVE WITH THE REPUBLIC BANK LITTLE PIGGY

Money for “deferred spending,” on a larger purchase such as a bike, video game or gift. This money is being saved for a specific reason, and once your child has the funds required to make the purchase, the money will be spent. Saving up teaches children that we can’t have everything we want immediately. 

Spend

SPEND WITH THE TD BANK LITTLE PIGGY

Money to be used when your child wants something small or wants to purchase something on a whim such as treats or toys. Having actual money to spend makes it tangible, and because the amount of cash is limited, they know exactly how much they are able to spend. 

Donate

DONATE WITH THE PNC BANK LITTLE PIGGY

It’s important to teach your children the importance of sharing and giving back to your community. Younger children can use this money to buy gifts for less fortunate children around the holiday season. As your children get older, let them choose causes they want to donate to.