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ByPranav R
GRE Prep Word List #16: Money Matters
Hello folks, welcome to the 16th GRE Prep Word List Blog. This series of blogs aims to provide GRE aspirants with a comprehensive set of GRE Word Lists to bolster their GRE Verbal Preparation.
If you haven’t read our previous blogs, check them out here – GRE Prep Blog Home Page
In last week’s blog, when talking about crème de la crème, I had included a reference to Wu-Tang Clan’s ‘Cash Rules Everything Around Me.’ That sparked the thought of this blog focusing on words related to money.
The words in this blog are parsimonious, profligate, fiscal, patronize, and bequeath.
Before we start off with this week’s GRE Prep words, there are a couple of monetary words I’d like to explore.
Bang for your Buck
In the American colonial period, hunting was one of the best ways to earn ‘money.’ This was well before the dollar was introduced. So, people used to barter for goods/services. Deerskins/buckskins were one of the most traded commodities. As per writings from that time period, 5 buck skins were worth a cask of whiskey.
After American Independence, the Continental Congress authorized the issue of currency called dollars, derived from the German ‘Thaler’, a term used to describe Holy Roman Empire coins. Despite the currency replacing animal skins as means of payment, the slang ‘buck’ remained, and still does.
Salt
Although the origin of these stories are apocryphal, they, to some extent, contextualize several phrases we use nowadays in a few languages.
In ancient Rome, salt was a valuable resource. So, Roman soldiers used to get paid their salarium, which we now know as salary, primarily to purchase salt. This also led to the phrase ‘being worth one’s salt.’
In Hindi, there is a phrase ‘Namak Haraam’ which loosely means traitor/unfaithful. This is used when a person, who had been taken care of, fed, and treated friendly, betrays said person, thus disrespecting the salt given to them.
Now on to this week’s words!
Any interesting money-related trivia/word origins you’ve got for us? Leave them in the comments below!
i. parsimonious
Part of Speech – adjective
Definition – very unwilling to spend money or use resources.
Word Origins – late Middle English: from Latin parsimonia, parcimonia, from parcere ‘be sparing’.
Synonyms – miserly, ungenerous, stingy.
Usage – She’s so parsimonious that she refuses to turn on the Air Conditioner despite it being 40 degrees outside.
Bah, Humbug!
A Christmas Carol is a 19th-century novella that revolved around a great archetypal character – Ebenezer Scrooge.
Scrooge is a very wealthy man who is pretty misanthropic and doesn’t enjoy festivities. He underpays his employees, and is generally, a joyless old geezer. On Christmas Eve, he is visited by 3 Ghosts of Christmas – Past, Present, and Yet To Come. What follows, is a wonderful tale.
I recommend that you read this for yourself here.
Disney conceptualized a character inspired by Scrooge’s tale and named it Scrooge McDuck. Even if you haven’t heard of the character, you may have come across an image of it/him jumping into a room full of his money.
An empire of joy, indeed, Disney.
ii. profligate
Part of Speech – adjective
Definition –
1. recklessly extravagant or wasteful in the use of resources.
2. unprincipled, and degenerate (characteristic of manner).
Word Origins – mid 16th century (in the sense ‘overthrown, routed’): from Latin profligatus ‘dissolute’, past participle of profligare ‘overthrow, ruin’, from pro- ‘forward, down’ + fligere ‘strike down’.
Synonyms – spendthrift, improvident, licentious, decadent.
Usage – He’s a profligate spender; he spent his fortune on parties and gambling.
Show Me The Money!
Profligacy is the opposite of parsimony. Where parsimony shows conservatism in spending money, profligacy involves throwing money at everything.
Marie Antoinette, the once Queen of France, was a spendthrift. She had a reputation of spending the crown’s money on lavish, personal items, jewelry, etc. The ‘Affair of the Diamond Necklace‘ is one of the most notable scandals that reveal the extent of her profligacy.
As a result of her failed attempts to revitalize the nation’s finances, she was given the nickname “Madame Déficit”
If Marie had not said ‘Let them eat cake’ (which she apparently never did), and instead said ‘Let them get this bread,’ (slang for let them get money) perhaps her fate would have headed in a more pleasant direction.
iii. fiscal
Part of Speech – adjective
Definition – relating to government revenue, especially taxes.
Word Origins – mid 16th century: from French, or from Latin fiscalis, from fiscus ‘purse, treasury’
Synonyms – budgetary, pecuniary.
Usage – My accountant handles my company’s fiscal affairs.
iv. patronize
Part of Speech – verb
Definition –
1. frequent (a shop, restaurant, or other establishments) as a customer; give financial or other support to.
2. treat in a way that is apparently kind or helpful but that betrays a feeling of superiority.
Word Origins – from patron + -ize, or from Old French patroniser meaning “treat in a condescending way” 1797; the sense of “give regular business to” is from 1801.
Synonyms – sponsor, promote, condescend to, put down.
Usage – People should patronize small businesses to ensure their survival.
How did Harry decline a DeMentor’s invitation?
“I’m expecting a patron.” Sorry to all the Potterheads out there.
The spell used to banish dementors ‘Expecto Patronum’, is Latin for ‘I await a saviour.’
Take a fun quiz here to find out what your Patronus is.
Patrons, as we know them in this context, have been around since the medieval era.
Talented artists, musicians, writers, among others, would be taken under the patronage of wealthy people. They would be given money, space to pursue their arts, and sometimes, would be commissioned to create works of art as per the desires of said patrons.
The well-chronicled exploits of the Medici family come to mind, when thinking of notable patrons. Leonardo Da Vinci, Michelangelo, Raphael, and Galileo, etc. sought the patronage of the Medici family.
Salvador Dali was an artist who is well-known for courting patrons, and since he was active in the 20th century, sponsorship deals with brands. He has done work for brands like Chupa Chups, and has appeared in commercials as well. Due to his supposed greediness for such undertakings, he was given the derogatory nickname ‘Avida Dollars,’ which translates to ‘fond of money,’ and is an anagram of his name!
Take a bow, Breton!
v. bequeath
Part of Speech – verb
Definition –
1. leave (property) to a person or other beneficiary by a will.
2. pass (something) on or leave (something) to someone else.
Word Origins – Old English becwethan, from be- ‘about’ (expressing transitivity) + cwethan ‘say’
Synonyms – consign, transfer, vouchsafe.
Usage – The old man decided to bequeath all his assets to his grandchildren upon his passing.
Where there is a will…
Most of us may not be familiar that there are different kinds of wills. Grisham readers however, may know of a peculiar kind of will – a holographic will. (Check out The Testament and Sycamore Row)
A regular will usually contains the signature or thumbprints of the testator(the will’s writer). It is also witnessed by 2 people who sign the will and must not be its beneficiaries. A holographic will, however, is handwritten and only requires the testator’s sign/thumbprint. There have been umpteen stories, novels, TV series, and movies based on this type of will, as the legitimacy of such a will is debatable.
Check out this link for more info about holographic wills.
3 GRE Words in 5 minutes!
Watch the video below or here to learn more about money-related GRE Words!
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