With each one I always make them listen to a lengthy lecture (along with graphs and charts and timelines) about the value of compounding interest and how anyone if starting young enough, can effortlessly become a millionaire or multi-millionaire (Really). A can of pop purchased today would be worth up to $6,000 cash at retirement age. This piggy bank always amazes them how small amounts can add up to some real money. I make them VOW to not open it till is full (a few have waited, most don’t)
It’s useful for adults too, but of course you’ll know the secret in advance (see below) but don’t tell the kids. It took me years to fill mine, my daughter only took a couple of months.
It’s so easy to make, and the kids seem enthusiastic. It’s one 3 foot piece of 4" PVC sewer pipe, (either white or green) plus two end caps both glued permanently in place. Make a quarter sized slot on the top piece before gluing it on.
The markings are at 4.25" apart starting at the bottom (see photo) incrementing by $25.00 with the very top being $212.00.
One pound of typical? (varies) loose change has a value of about $12 to $15.
Typically made up of
.49 cents in pennies
.65 cents in nickels
1.90 in dimes
9.50 in quarters
100# of change is $1,300 to $1,400.
If your coins are in an unmarked container, weigh it and deduct for the weight of the container, then multiply number of lbs times $13 and you'll have the approximate value.
***Hint at surprise – When full, this 4’ tube will weigh about 60 to 65#
The Secret Surprise… the markings do not represent $25 each, they represent more like $100.00 each for a total of about $865.00 when full.
lol I just use a jar but this idea looks like fun. Kids would love it.
ReplyDeleteIriani - the kids are SHOCKED when they find out how much money they Really have..They jump up and down and scream... I mean, that's real money.
ReplyDeletewhat another great idea from the page of bert
ReplyDeleteGot it Mr. Chicken. I'm going to do it for my 22 grandchildren. Will have to make them fancy but will save me bundles for Christmas.
ReplyDeleteEquine - I'll do anything to save a buck. It's cheap and effective.
ReplyDeletetexas - 22 grandchildren? My, there must be something very special about your genes. Yes it's a lowly Sewer pipe but to the kids it's cool (not just cheap). I mean... how many kids can say they got Sewer pipe for Christmas? With mass production, it may only take you an hour or two?
Hmmmmm very very cool....
ReplyDeletelove it!
Bert, this is brilliant! I may just make one for myself ; )
ReplyDeletewow I have a son who would probably make this after I send directions.
ReplyDeleteWaaay better than the water bottle full of pennies!
ReplyDeleteCongrats Bert You've saved us all a hernia! lol!
NOTE TO ALL - My credit union has a free-standing change counter that anyone can use if you have an account with them. Some places charge $ for the service... go somewhere else, your own bank is your best bet.
ReplyDeleteALSO - I goofed, it THREE feet not four feet of pipe. .
Stefnee - I bet you could fill it in a day or two with the tips YOU get. ?
tint - It is a rather handy way to accumulate change... and after a while it adds up and it's "Guilt Free" spending because it's "extra".
jgigi- So easy to make, the hardest part is to make the slot in the top (dremel tool).
du - Well, it's still very very heavy and cumbersome but I pour it into multiple containers, easier to carry.
Ha ha ha, I love that marking secret for the big surprise. Let me see how much a badmitton shuttlecocks canister can take ... probably half the amount, as it is about same size but only about 1 and half feet.
ReplyDeletebareheart - if it's the same interior diameter (4") and is half the height of the sewer pipe the badmitton canister should hold about $430, but I think the shugglecocks are not that big, more like 3" in diameter so in that case it would be considerabley less, like maybe $275 ????????????
ReplyDeleteHow interesting. Isn't it amazing how much can accumulate in such a short time? Really good idea Bert have you thought of patenting the idea?
ReplyDeletefreya - I am an inventor... So far I have 79 inventions, but I have not gone thru the complete patent process with any of them... YET (working on it but procrastinating). This piggy bank may be patentable? but I just didn't figure it was worth it.. maybe it would have been but now that I have posted it, I can't claim it wasn't divulged to anyone so this one is likely out of the question... I have much better ones to patent.
ReplyDeleteI love it!
ReplyDeletebloglady - Whether you knew about the real value or not... it's always fun when you cash it in. Guilt-free spending cause it was "extra" money.
ReplyDeleteWow, I want one. Saving will be so easy and dreaming about what to buy with what feels like free money. Great idea
ReplyDeletebeen saving change for many years..we use a large german beer mug! You're idea is great! Love it!!
ReplyDeleteDew - It's fun to spend it friviously, but of course you could pay bills with it too, but not as much fun.
ReplyDeletekats - it's always fun to have that "extra" cash at your disposal.
This would be great to make a pair.. his/hers and save.. then use the money for a weekend get away!
ReplyDeleteFantastic plan Bert... get those patents done!!
Stef - hey, that's a good idea... you could sneak a hole in the bottom of his bank and "supplement" your bank with change from his...HA ha, . he'd never find out, the hole is on the bottom (Plug it or replace bottom cap before he opens it). Then YOU can have more fun on a getaway than him. HA Ha ha HO Ho ho.
ReplyDeleteThanks for the push, thinking about patents again.
Brilliant idea!!! I like the surprise at the end though, "getting more than you put in"... *smiles* Magic!!!
ReplyDeletehmm forgive me but I'm not sure where and how that measures. What do you mean? how does that work?
ReplyDeleteHeidi - Yes, you should see their reaction when they have 4 times more than they expected... it IS like magic.
ReplyDelete7jewel - Lower a washer on a string into the tube. The washer is just for a weight (that will fit thru the slot on top) and when you lower it into the tube on a string and it stops... pinch the string with your finger then pull it out and hold the string on the outside over the markings and where the washer is, shows how much money (how full) is in the tube. Otherwise, you have no way of knowing how full it is. A stick that would fit thru the slot would tell you the same thing.
.....It's especially great for kids when they realize the value of saving even small amounts.
.....
ok i see...thanks...some older children might enjoy making it too. Clever and easy
ReplyDelete
ReplyDeleteYes, many of the parents made one for themselves... I have one too.