Get the feed"Thrift" popular again
Monday, Jan 12th 2009
Interestingly, the piggy bank industry has been helped by the economic downturn, according to this article:
Recession-wary Americans embraced the virtues of thrift this Christmas, with stores reporting a clear rise in the popularity of piggy banks.
"We have been selling coin banks really well," said Laura Kellner at Kikkerland Design Inc. in New York City, whose stylish chrome pig is priced at $31.
U.S. savings levels have increased markedly in recent months as households adjust to a yearlong recession and the worst financial crisis since the Great Depression.
The downturn has shattered house prices and the value of retirement accounts which, in turn, has reinforced the necessity to systematically put funds aside for the future.
Retailers said this translated neatly into a gift that captured the spirit of the times.
In fact, my mother gave my kids little ATM machines, complete with fake ATM cards to keep their money in. It was a wonderful Christmas present.
It got me thinking... As awful as the economy is, what better time to start teaching our children about saving, spending wisely, and giving to other families who might be in need?
Nancy French
Nancy French is an author, commentator, and mother. Her next book, about the year her husband spent in Iraq is due out July 4, 2011. Connect with her on Facebook at www.facebook.com/NancyAndersonFrench and follow her on Twitter at https://twitter.com/nancyafrench.
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