Piggy banks are back but Gen Z is calling them ‘smash jars’ in latest money saving hack

Piggy banks are making a comeback, but they’ve had a TikTok-era rebrand.

Searches for “money box opening” on the app have jumped 311% in the past week and a huge 1,355% year-on-year, as creators post videos of themselves smashing open sealed jars to reveal stacks of savings inside.

But unlike the piggy banks of the past, which often held loose change from pockets and purses, today’s smash jars are being filled with real savings. We’re talking folded £10s, £20s, even £50 notes being stuffed in weekly.

Our Founder of Updraft explains the trend, highlighting the pros and cons of a piggy bank compared to an online savings account.

Why is Gen Z saving like it’s 1999?

Aseem Munshi, our Founder at Updraft, experts in helping people pay off credit card debt and manage consumer credit, shares:

“For Gen Z , a generation raised on tap-to-pay, Klarna and Apple Pay, analogue saving methods offer a different type of clarity, control and a sense of progress.”

“Much like the cash stuffing trend of 2023-24, where people sorted their cash into envelopes by category, smash jars offer structure with a side of dopamine. The act of physically inserting notes and eventually breaking open the jar brings an emotional connection to saving that apps can’t always replicate.”

“We’re seeing people build friction back into their finances, in a world designed for instant spending.”

It’s previously been reported that Gen-Z consider cash to feel like “free money”, which may explain the popularity of the trend. This says a lot about how disconnected digital-first generations can feel from their finances, as Aseem continues to explain:

“The perception that cash is “free money” is a double-edged sword, as it makes saving feel exciting and rewarding, but it can also create a false sense of abundance.”

“Calling cash ‘free money’ shows how removed we’ve become from our own cash flow. It’s great if that mindset motivates saving, but people should still stay grounded in the fact that this is their hard-earned cash, and should be treated with the same care and intention as any money in a bank account.”

From swipe culture to smash culture

One of the most powerful benefits of this trend is how it counters impulse-led spending, particularly on credit cards or BNPL platforms, as Aseem explains:

“Credit cards make it incredibly easy to spend now and worry later, but piggy banks or smash jars flip that script. You save now and enjoy later. That shift in mindset can stop people from overpaying on high-interest debt or financing lifestyle costs with credit.”

Why it works and where it could fall short

Aseems shares why using a smash jar works:

1. Forces you to save, not spend
“Once money goes in, you can’t dip into it. That self-imposed “lock-in” is great for anyone trying to break the habit of overspending.

2. Tangible progress
Seeing the jar fill up with real notes makes saving feel motivating. It’s different from watching numbers climb in a banking app.

3. Emotional payoff
Smashing the jar becomes a reward in itself, especially if it means you can fund a goal without touching your credit card.

4. Great for short-term goals
Whether it’s a festival, birthday, weekend trip or emergency buffer, having a physical jar means the goal stays top of mind and out of reach.”

He continues to share its limitations:

1. You’re not earning interest
“Savings held in jars lose value over time due to inflation. Savings accounts may suit longer term goals, especially as they earn interest and are protected if the bank fails.

2. Risk of spending in one go
The ‘big reveal’ moment can trigger a “spend it all” mindset. Without a follow-up plan, that money can disappear quickly, especially if used to justify a big splurge.

3. Less secure than the bank
There’s no protection if your jar is stolen, lost, or damaged. A digital vault is far safer and more traceable.

4. Doesn’t help pay off existing debt
While it prevents new spending, it doesn’t tackle existing credit card balances and saving cash at home while paying 30%+ APR on any credit card debt may not be the most efficient route.”

Aseem concludes: “Trendy? Yes. Silly? Not at all. Smash jars are tapping into real behavioural science, helping people build savings habits that stick, especially if they’ve struggled with traditional financial tools.

“It’s a small win, but those moments build confidence. And confidence is everything when it comes to getting out of credit card debt or irresponsible use.”

Looking to simplify your credit card repayments? Find out more about managing credit and borrowing at updraft.com

Methodology:
Search data was collected and correct as of 14/07/2025 via TikTok’s Creator Search Insight Tool and Keywordtool.io

About Updraft:
Updraft is an FCA authorised lender. We provide personal loans to try and help customers manage existing credit commitments, subject to credit and affordability checks.