Every child can remember their first piggy bank and some might remember that proud moment when they slotted those coins in after a hard day’s work selling lemonade on the street corner. For some children, saving up was a serious business and the rewards were better than any gift they could receive.

The pig has symbolised savings for centuries, thanks to the famous piggy bank. It has been used to teach people about the value of saving and banks often use the symbol for savings campaigns.

But why a pig? Where did this term originate from? It surely couldn’t originate in Israel or any Muslim country, where pork is prohibited by both Jewish and Islamic religions.

The answer to its origins lies on that muddy island, known more commonly as Great Britain.

Made of pig or mud?

The one origin story is that pig skins were used in England to make jars in which money was stored and were initially called “pig jars”, according to Wikipedia.

“As earthenware was supplanted by other materials, such as glass, plaster, and plastic, the name gradually began to refer specifically to the shape of the bank, instead of what was used to make it,” it explains.

The other origin story concerns the evolution of the English language.

“Going way, way back, there was a word in English, ‘pygg’, which referred to a certain clay,” according to The Straight Dope.

The site that claims to be “fighting ignorance since 1973” said the clay was used for making all kinds of household objects, including things for storing money.

“At the time the barbaric Saxons learned to write ‘pygg’, [which] was probably pronounced to rhyme with ‘pug,’ but as the pronunciation of ‘y’ changed, ‘pygg’ came to be pronounced about like ‘pig,’ and the banks were shaped like pigs as a joke, or because of confusion of the meaning.”

That’s the English for you.

Other references to money boxes come from Indonesia.

“The Javanese and Indonesian term celengan (literally 'likeness of a wild boar', but used to mean both "savings" and "piggy bank") is also used in the context of domestic banks,” according to Wikipedia. “The etymology of the word is obscure, but evident in a Majapahit piggy bank from the 15th century.”

Saving money in a special container hasn’t always been bound to a pig.

The oldest discovery of money boxes dates back to the 200 BC Greek colony of Priene in Asia Minor and features the shape of a little Greek temple, says Wikipedia.

“Money boxes of various forms were also excavated in Pompeii and Herculaneum, and appear quite frequently on late ancient provincial sites, particularly in Roman Britain and along the Rhine.”

While most piggy banks still look like the swine, deviations are common, with examples ranging from the red London bus to a quaint little cottage, which might be in reference to what the money is being saved up for.

Bring home the bacon, but don't be greedy

As a matter of coincidence, the origin of the phrase “bring home the bacon” also comes from England.

The phrase means to earn money for one’s family and to become financially successful.

The origin comes from the story of the Dunmow Flitch, according to phrases.org.uk. In the year 1104, a couple impressed the Prior of Little Dunmow with their marital devotion to the point that he awarded them a side of bacon.

“The continuing ritual of couples showing their devotion and winning the prize, to considerable acclamation by the local populace, is certainly old and well authenticated,” the site reveals, adding that Geoffrey Chaucer mentions it in The Wife of Bath's Tale and Prologue, circa 1395: “But never for us the flitch [side] of bacon though, that some may win in Essex at Dunmow.”

Another financial pig reference isn’t as kind. In financial circles, a “piggish investor” is a person who is seen as greedy and has forgotten the original investment strategy, according to investopedia.com.

“After experiencing a gain, these investors often have very high expectations about the future prospects of the investment and, therefore, do not sell their position to realise the gain,” the site explains.

Click here to view Perkals range of piggy banks / money boxes