22,335 reasons to start a piggybank
It started off as a Playstation fund (to purchase the original playstation). A post-adolescent’s piggybank of 5 peso (and later 10 peso) coins to save up for a gadget fix. I got that playstation eventually. But more than just getting a fix, I came away with something more. I learned the value of the piggybank.
Over the years, the fund morphed into many iterations. It became a PC fund; a wedding fund; back to a PC fund; part of a going-abroad fund; and now, its current incarnation, the Mikey Fund.
If anyone out there is looking for a good reason to start a piggybank (I’m looking at you, Moks), I have 22,335 reasons for you - PhP22,335 that is.
We, Wrigley, Mikoy and myself, counted our 5 and 10 peso coin hoard last Sunday. Or rather, mommy and daddy counted, while Mikoy gleefully rolled around in them, all the while trying to stuff his mouth with the shinies. After an exhaustive 2-hour count, we marvelled at the total: 22,335 pesos. Actually 22,336 pesos, a one peso coin somehow managed to get mixed up in the pile.
The coins filled a six-liter Wilkins bottle to the brim - holding exactly 18,000 pesos - and a pasta jar - the remaining 4,000. The 335, went back to Mikeybear.

This latest batch of savings took us three years to accumulate. That seems like a long time, but hey, do the math. At this pace, in three more years, the total may come close to 44,000. Good enough to buy us a nice big Home Theater system, or a nice kitchen for Mommy.
By the time Mikoy turns 15, the total amount will be just a tad over 133,000. If we are not able to migrate to a different country by then, 133,000 should be enough to cover part of mikoy’s college tuition in UP, or at least half of it considering the inflation rate. That’s not counting all the stuff you can do with it such as revolving monthly dollar time deposits and whatnot, for it to earn interest.
Need more convincing? Mikeybear, our venerable yellow banker, took just over a year to fill. When full up to his eyeballs, Mikeybear can hold P10,000. That’s 10,000 per year. In 40 years, if you only manage to fill a coin bank his size once a year, that’s 400,000 more for your retirement. Of course you’d do well to put that money in an interest bearing account every now and then.
Like every habit, skimming 5 and 10 peso coins from your budget takes a lot of getting used to. My advice is to use clear plastic or glass jars so you can see your progress. its a great motivator seeing all those coins pile up. Once Mikey is old enough, Daddy’s gonna start him on his own piggy bank too.
Now if our 22,335 reasons aren’t enough for you, well…


