Milk jug piggy banks are a resourceful way to craft a fun kids' bank that teaches children how to save money and handle their financial resources. Making a piggy bank out of a milk jug also helps recycle old plastic jugs to minimize impact on the local landfill.
Remove the milk jug's cap and wash the milk jug thoroughly with warm water and dish detergent. Allow to dry in a cool area outside of direct sunlight. Failing to wash and dry the milk jug thoroughly may result in an unpleasant smell and bacteria growth inside the homemade piggy bank.
Replace the milk jug's cap.
Use the utility knife to cut the empty toilet paper rolls in half so that you have four short tubes. Lay the empty milk jug on its side in a horizontal position. Glue the tubes onto the long end of the milk jug. These will form the piggy bank's feet and legs. Allow to dry thoroughly so that the legs are secure before moving the milk jug.
Cut a 5-millimeter-wide slit on the horizontal edge of the milk jug, opposite the end that has the tube legs. This will be the slot in which a child can deposit his or her coins into the milk jug piggy bank.
Paint the piggy bank's nose. The milk jug's cap will become its nose, and will also be the area that is removed to shake out any coins deposited inside the piggy bank.
Paint the piggy bank's body. To make this child's craft look somewhat realistic, you may wish to paint the milk jug pink and use black paint for the piggy bank's eyes and feet. Add as much detail as you wish. Allow the milk jug piggy bank craft project to dry thoroughly before using. Orient the piggy bank on its "legs" and allow your kids to drop quarters, nickels and other coins into the slot. Unscrew the piggy bank's "nose" to remove the deposited coins at the end of each saving period.