Like mentioned earlier, children follow the footsteps of their parents or elders. It’s extremely important for parents to present themselves as fiscally prudent. Parents, who are generally cautious about spending money or investing it, pass it to their offspring’s inherently. However, to develop the habit of saving early, children should be made to realize the importance of saving and how to save money. The piggy bank is a classic example to get children started with saving. If they save whatever money they get; in the form of monthly allowance, prize money or cash they get from relatives and accumulate them in their piggy bank, then this could help them to buy something that they like, or buy something expensive. It could also serve as a mini contingency fund, for instance, if they run short of money by the end of the month, then instead of asking others, they could use the money in the piggy bank wisely.