The piggy bank principle: Lessons in consistency

As children, we may not have realised it, but every coin dropped into our piggy banks was a lesson in discipline and delayed gratification – a tangible reminder that patience and persistence turn modest efforts and sacrifices into something more significant. It taught us that progress might not be visible day to day, but it builds over time. The piggy bank wasn’t just about saving money, it was about cultivating a mindset and laying the foundation for building wealth and reaching bigger financial milestones as adults.

Sticking to a goal

In the beginning, the progress seems invisible – a few coins or contributions barely make an impact. The simple methodology doesn’t seem rewarding in the short term, but it rewards consistency and the ability to exercise self-control through weeks, months, and years. Each contribution builds discipline, and when you are saving towards long-term goals like buying a home, funding your children’s education, or retiring comfortably, it’s the discipline and consistency that will get you to your goal.

We often overestimate what can be achieved in a short time, and underestimate what can be achieved through consistency. In his book Atomic Habits, author James Clear explains that lasting change doesn’t come from motivation, but from identity-based habits. The goal isn’t just to save money, it’s to become the type of person who saves.

Budgeting is the equivalent of what a piggy bank represented to us as children: a structured way to give every rand a purpose and ensure that our use of money reflects our values and priorities. By setting aside a portion of your income each month for your future self – for example, by contributing to a retirement fund or tax-free savings account – you are reinforcing the behaviour that will help you achieve your long-term goals. Over time, small but consistent contributions have significant compounding effects.

Patience and the benefit of waiting

Patience is perhaps the least glamorous trait when it comes to saving, but it’s also the most powerful. In a world obsessed with immediate results, patience can feel countercultural, but the most meaningful savings outcomes depend on it. It takes time to effectively build good saving habits, and time for returns to compound year after year.

Behaviourally, patience helps our instinctive urge to ‘do something’ when markets or circumstances fluctuate. But the best decision is often to stay invested and let compounding over time do the work. The investor who steadily contributes towards their retirement and resists reacting to short-term market noise almost always outperforms the one chasing quick wins. The same principle applies to saving through economic cycles: staying the course, even when growth feels slow.

The ability to delay gratification is one of the strongest indicators of financial success. It is the willingness to sacrifice today’s wants for tomorrow’s freedom. Whether it is skipping an impulse purchase to stay on budget or increasing your investment contribution instead of upgrading your lifestyle, each act of restraint will reward you over time.

A final thought

The piggy bank may seem old-fashioned, but in an age where everything is instant and digital, it quietly reminds us of the importance of the timeless art of patience, purpose, and persistence.

We often think of wealth as a number, but in reality, it’s a result of a collection of behaviours. It is reflected in how we budget, how consistently we save, and how patiently we invest. True financial success lies in aligning behaviour with intention, managing emotion, focusing on the long term, and resisting the noise of comparison.