Taylor Scott
The piggy bank is a well-known concept, often used to teach children about saving money. While modern piggy banks are usually made of painted ceramic or porcelain and have a rubber plug or removable nose to allow access to the coins inside, traditional piggy banks were meant to be broken. This stems from the practical need to access the money inside and the symbolic act of ending a saving cycle and transitioning to spending. Today, breakable piggy banks remain as novelty items, encouraging saving and providing a sense of satisfaction when the savings goal is achieved.
| Characteristics | Values |
|---|---|
| Purpose | To store loose change in a decorative manner and teach children about saving |
| History | The oldest Western find of a money box dates to the 2nd century BC in Priene, Asia Minor. The earliest pig-shaped money containers date to the 12th century in Java. |
| Construction | Traditionally made from clay or ceramics without openings, requiring users to break them to retrieve coins. Modern piggy banks often include rubber plugs or removable parts for coin access. |
| Symbolism | Breaking a piggy bank represents the end of a saving cycle and the transition to spending or investing. |
| Novelty | Modern "breakable" piggy banks exist as novelty items, emphasising the commitment to saving and providing a dramatic reward upon access. |
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What You'll Learn
The history of piggy banks
The piggy bank, sometimes known as a penny bank or money box, is a coin container usually used by children. It is known to collectors as a "still bank", in contrast to the "mechanical banks" that became popular in the early 20th century. The general use of piggy banks is to store loose change in a decorative manner, and they are often used to teach children the basics of saving. Money can be easily inserted, but piggy banks are designed to make it more challenging to remove, encouraging saving and discouraging theft.
The oldest Western find of a money box dates from the 2nd century BC in Priene, a Greek colony in Asia Minor. It is shaped like a miniature Greek temple and has a slit in the pediment. Money boxes have been excavated in Pompeii and Herculaneum, and they appear frequently in late ancient provincial sites, particularly in Roman Britain and along the Rhine. Money boxes of various forms have been discovered from the ancient East, many of which are shaped like wild boars.
The earliest known pig-shaped money containers date to the 12th century on the island of Java, Indonesia. A large number of boar-shaped piggy banks were discovered at an archaeological site surrounding Trowulan, a village in the Indonesian province of East Java, which is a possible site of the capital of the Majapahit Empire. The Javanese term "cèlèngan" means "likeness of a wild boar" and is used to refer to both "savings" and "piggy bank" in modern Indonesian. The Majapahit Empire ruled for just over 200 years from 1293, and during this time, terracotta piggy banks became famous.
There are several theories about how the term "piggy bank" originated in the English language. One theory suggests that the term evolved from the word "pygg", an orange clay used to make dishes and pots in the Middle Ages. Frugal people would save cash in these kitchen pots and jars, and although they were not pig-shaped, the name persisted as the clay was forgotten. Over time, the pronunciation of "pygg" changed from "pug" to "pig", and potters began casting the banks in the shape of pigs. Another theory suggests that the term "piggy bank" comes from the Scots word "pirly pigs", which refers to the action of inserting a coin.
The popularity of Western piggy banks may have originated in Germany, where pigs were revered as symbols of good fortune. The oldest German piggy bank dates to the 13th century and was found in Thuringia. The large flow of German migrants to the US in the 19th century helped to popularise the piggy bank in its modern form.
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Practicality vs symbolism
The piggy bank is a well-known concept, often associated with children and saving money. The idea is that loose change can be easily inserted through a slot, but the lack of an opening to remove the money means that the bank has to be broken to access the savings. This design has both practical and symbolic significance.
Practicality
The practicality of having to break a piggy bank to retrieve the money is questionable. It could be seen as a way to ensure that the money is not spent until the saver has a substantial amount. It also prevents casual access to the money, which could be beneficial for those who struggle with impulse control or who are saving for a specific goal. Additionally, the act of physically breaking the piggy bank can be a dramatic and satisfying way to mark the end of a saving cycle and the transition to spending or investing.
However, breaking the piggy bank can also be seen as wasteful and inconvenient, especially if the saver wants to access their money before it is full or if they want to reuse the container. Modern piggy banks often include features like rubber plugs or removable noses that allow access to the money without breaking the bank, making them more practical and user-friendly.
Symbolism
The symbolism of breaking the piggy bank is powerful. It represents the fulfilment of a savings goal and the transition from saving to spending or investing. In some cultures, like Spanish tradition, breaking the piggy bank is a ceremonial act, with families gathering to celebrate the unveiling of the savings. The act of breaking the piggy bank can also be seen as a commitment to saving, requiring the saver to physically break the container to access their money, which could be seen as a drastic measure that reinforces the importance of financial discipline.
Overall, the practicality vs. symbolism debate surrounding piggy banks highlights the tension between convenience and ritual. While modern piggy banks have evolved to be more practical and reusable, the traditional act of breaking the piggy bank remains a symbolic and nostalgic ritual for many.
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Teaching children about saving
Piggy banks are commonly used as a tool to teach children about thrift and saving. They are designed to store loose change and make it easy to insert money but harder to remove, discouraging spending. Some piggy banks need to be broken open, reinforcing the idea that money should be saved rather than spent.
Encourage Earning and Saving:
Children can be encouraged to earn their own money through age-appropriate tasks, chores, or other activities like walking the dog or selling handmade crafts. This teaches them the value of hard work and helps them understand that money is earned through work, not debt. It also instills a sense of responsibility and independence. Guide them to set realistic savings goals and break them down into smaller milestones, celebrating their progress along the way.
No-Spend Challenges:
Introduce the concept of a no-spend month, where children can track their progress and visualize how much they save. This can be made fun with a calendar they can color in, helping them see the benefits of saving.
Generosity and Giving:
Teach children about the power of generosity and giving. Encourage them to donate a portion of their earnings, such as 10%, to a charity, church, or individual in need. Help them brainstorm creative ways to donate their time or talents as well. This will instill a sense of financial responsibility and empathy.
Financial Education Programs:
Take advantage of financial education programs like "Teach Children to Save," offered by organizations like the American Bankers Association. These programs provide resources, videos, and presentations to help children learn about financial topics, savings habits, and personal finance. Banks often participate in these initiatives, so look out for events in your community or digital platforms offering this service.
Use of Piggy Banks:
Piggy banks are a great visual tool to teach children about saving. They can easily insert money and watch their savings grow. Some piggy banks have stoppers or removable noses for coin access, while others require breaking to reinforce the idea of saving. This tactile experience can help children understand the value of money and the effort required to save.
By combining these methods, parents and educators can effectively teach children about saving, setting them up for a financially responsible future.
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Security and theft protection
The act of breaking a piggy bank to retrieve the money symbolizes the end of a saving cycle and the transition to spending or investing. While modern piggy banks often feature stoppers or openings for convenient access, the traditional concept of breaking the bank remains nostalgic and symbolic. This method requires a hammer or similar tool to smash the piggy bank, ensuring a dramatic and irreversible way to access the savings.
The process of breaking a piggy bank can also serve as a commitment device, encouraging individuals to save. The knowledge that breaking the bank is the only way to retrieve the money creates a psychological barrier against impulsive spending. This design feature aligns with the pedagogical purpose of piggy banks, teaching children the importance of thrift and saving.
Additionally, the distinctive shape and material of piggy banks can contribute to their security. The ceramic or clay construction, often in the shape of a rotund pig, makes it challenging to discreetly break the bank without attracting attention. This feature further deters potential thieves and reinforces the security of the savings within the piggy bank.
While the act of breaking a piggy bank can be satisfying and symbolic, it is important to prioritize safety. When breaking a piggy bank, individuals should wear protective gear, such as safety goggles, to prevent injuries from flying shards of ceramic or clay. It is also advisable to place the piggy bank in a bag or pillowcase before smashing it to contain the mess and minimize the risk of injury.
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Novelty and tradition
The piggy bank is a novel concept with a long tradition. The idea of a pig-shaped container for saving money has a rich history, deeply rooted in culture and tradition. The earliest known pig-shaped money containers date back to the 12th century in Java, where they were associated with the term "cèlèngan", which refers to both "savings" and "piggy bank" in modern Indonesian. In medieval Europe, a type of orange-coloured clay called "pygg" was used to make household items like pots and jars, which were often used to store coins. The term "pig jar" evolved, and people began to associate it with the animal, leading to the creation of pig-shaped coin banks in the 18th century.
The traditional piggy bank is unique in that it does not have an opening at the bottom, and the only way to retrieve the money is by breaking it. This concept originates from both practical and symbolic aspects. Early piggy banks were made from ceramics or clay without removable stoppers or openings, so breaking the bank was necessary to access the savings. This act symbolised the end of a saving cycle and the transition to spending or investing the money.
Over time, piggy banks evolved to include stoppers or openings, making them more practical, reusable, and user-friendly. This change preserved the decorative aspect of piggy banks while allowing for repeated use. Today, modern piggy banks are usually made of painted ceramic or porcelain and come in various shapes, sizes, and colours. Some even incorporate electronic systems that calculate the deposited amount.
Despite these modern innovations, the tradition of breaking a piggy bank remains. It has become a nostalgic and symbolic act, representing the fulfilment of a savings goal. Breaking open a piggy bank can evoke a sense of commitment to saving and provide a dramatic reward when it's time to access the money. This tradition is especially prevalent in Spanish culture, where children are given small piggy banks to decorate themselves, and families use larger pigs for collective savings goals.
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Frequently asked questions
A piggy bank is a coin container that is commonly used by children to teach them the basics of saving money. They are often designed to be difficult to remove money from, encouraging users to save.
Early piggy banks were made from ceramics or clay and did not have openings or stoppers. As a result, the only way to access the money inside was to break the piggy bank. Today, some piggy banks still don't have openings to discourage spending and encourage saving.
The earliest piggy banks were made from a type of orange-coloured clay called pygg, which was used to make household items like pots and jars in medieval Europe. Over time, the term "pygg jar" evolved into "pig jar", and people began to associate it with the animal. In the 18th century, English potters started crafting coin banks in the shape of pigs.
