Thrift

“It’s usually best for students and young professionals to practice thrift.”

What is the best definition of thrift?

Check your answer!

Choice A - The theory of supply and demand
Choice B - Being stingy or greedy with money
Choice C - Being fashionable or trendy
Choice D - The habit of careful economics

Definition:

Thrift (noun) – the very careful management of money and other resources; resourcefulness without wastefulness

GRE pro tips:

The GRE word thrift comes from the Middle English thriven, meaning “to thrive” or “prosperity or savings.” You may wonder how thriving and saving are related. This is where thrift comes in. Thrift refers to extreme care with money and resources without wastefulness. Someone with thrift is frugal and economical and in the habit of both saving money and avoiding waste. Know this: thrifty people are not cheap, they are resourceful. In fact, their thriftiness can lead to an increase in wealth and prosperity. (Note that a spendthrift is the opposite of a thrifty person, as it refers to someone who spends money irresponsibly.)

When you think about it, “thrift stores” are perfectly named; those who shop at them are saving money and those who donate are avoiding waste – and all parties are being resourceful. Maybe you can think of your local thrift store to remember this word.

Example sentences:

“First and foremost, I thank my parents – were it not for their hard work and thrift, I would never have graduated from medical school debt-free.”

“Ideally, non-profit organizations are managed by thrifty leaders who practice fiscal responsibility.”