piggy bank
A place to keep loose change or daily savings at home.
What it means
A piggy bank is a place to store small amounts of cash, usually in the form of a box, can, or other container where money is set aside little by little. In Indonesia, piggy banks are often used by children and adults to save daily without going through a bank. Money in a piggy bank does not earn interest and is not officially recorded, so it is only temporary storage.
Why it matters for families
Piggy banks help families build a saving habit and set aside loose change before the amount is enough to deposit in a bank. However, cash at home is prone to loss, damage, or being spent without record. If all savings are kept in a piggy bank, the family loses protection and cannot monitor fund growth.
Example
For example, every day the husband sets aside Rp5,000 of leftover shopping money into a piggy bank. In a month, about Rp150,000 is collected, which can be used to buy children's school supplies. Once there is enough, the money should be moved to a savings account to be safer.
Common misunderstanding
Many people think a piggy bank is the same as a bank savings account. The correction is that a piggy bank does not provide interest, is not guaranteed by a deposit insurance institution, and has no transaction records.