Rubbish crew rewinds 80 years to save money with 1929 Budget Bank
In this tough economy, I’m constantly looking for new ways to manage my money and update my savings strategy. And now, with the holiday shopping season in full swing, I can’t help but think it would be nice to have a gadget like this 1920s Budget Bank.
I found this Budget Bank on a garbage cleanout job in Queens, New York. After doing a bit of Internet research, I learned that the Budget Bank was invented and patented in 1929 by a man named Elmer Sas. Not surprisingly, the bank was extremely popular during the Great Depression, just as Americans today (post-recession) have buckled down on spending and have scaled back on life’s luxuries.
You can see by the photographs here that the Budget Bank is basically several smaller piggy banks all compiled into one. The advantage of having all of the banks separated is spelled out in the name — you can create “budgets” for various savings goals. Essentially, it’s like having a bunch of little savings accounts, the same way you’d use a financial institution to save today.
The Budget Bank has two types of entry methods: (1) small holes to insert rolled-up bills and (2) coin slots to input coins of all values. The Budget Bank, in my opinion, is quite brilliant and could be extremely useful to teach children the value of a dollar. Even if you don’t have kids, you can use it to compile all of the leftover change you carry around on a day-to-day basis and, down the road, you’ll be surprised at how much you saved.
What is your favorite savings antique? Let me know in the comments below.