Definition of thrift

The English word "thrift" originated from the Old Norse word "þriftr," which meant "good management" or "prudent planning." The Old Norse word was introduced into the English language during the Viking invasions of the 9th century when the Norsemen settled in England and left a significant linguistic and cultural footprint. Over time, the meaning of the word evolved, and by the Middle English period, it came to mean "saving money for the future" or "frugality." This sense of thrift became closely associated with the Protestant ethic that emphasized hard work, self-discipline, and diligence. Today, the word "thrift" is used as a noun and adjective, synonymous with "frugality" or "savings." It can also refer to a financial institution, such as a thrift institution, which is a savings and loan association or credit union that offers savings accounts, loans, and other financial services. Interestingly, the word "thrift" has also given rise to some popular expressions in the English language. For example, "to spendthriftly" refers to spending money recklessly, while "to live in thrift" describes living frugally and economically. In this sense, the word "thrift" continues to hold both a financial and a moral connotation, highlighting its rich history and cultural significance.