Internet-connected piggy bank helps kids save money

Saving money isn’t always as easy as it sounds. In order to assist future generations, a wireless entertainment company called Spiral Toys has developed a mobile-connected piggy bank.

The piggy bank, named Wiggy, introduces the concept of saving at an early age by combining a toy piggy bank with an interactive mobile app and a linked bank account. Using the mobile app, parents and other friends and family can deposit funds to a child’s bank account for birthdays and holidays, or to reward the child for great school grades and completing their chores.

Wiggy incorporates Blue Tooth Low Energy (BTLE) technology  to connect the pig, which lights up, oinks and even shakes, to the mobile app.

Parents can set up a reward system via mobile app where tasks and chores act as a way for a child to earn money. Money can be transferred from the parent’s bank account into their child’s account when they complete tasks and chores.

Parents can also ask friends and family to deposit money directly into the child’s account on occasions like birthdays and holidays. The app allows children to check their bank account balance and set savings goals.

Wiggy will be available for purchase in the second half of 2016.