Gifts for a richer life

A piggy bank

The piggy bank is a gift that encourages a lifetime of good savings habits.

Here's a way for parents or grandparents to start teaching important savings strategies, like putting aside a certain percentage of an allowance or cash gift for a rainy day. And marvel as your kids grow excited from putting coins and bills through the slot and watching savings accumulate.

Plus, a full piggy bank leads to the next important step of opening a savings account.

A boon to gift givers: piggy banks now come in plenty of shapes and sizes if, say, a soccer ball is more the speed of your little saver than the traditional pig. There are even ones with digital counters.

And since piggy banks aren’t expensive, you can easily include some cash to get the savings started.

Tread carefully when gifting piggy banks to adults. Unless the intention is to help fund a specific item, like a vacation, it could be interpreted as a veiled insult about how someone handles their money.