People handle money in very different ways, and English has a sharp word for each. Some save every penny, some spend as if the money will never run out, some give it away by the bagful, and some want it all for themselves.
Key idea
Sort the ten words into four groups. Savers: frugal (wise), parsimonious (stingy), avaricious (greedy). Spenders: extravagant, prodigal, profligate (each more wasteful than the last). Givers: munificent, largesse. Rich and poor: affluent, destitute.
Notice which words praise and which ones criticize. Calling a friend frugal is a compliment; calling him parsimonious is not, even though both describe a person who spends little.
The ten words
Common mistake
frugal is a compliment; parsimonious is a criticism. prodigal means wasteful, not "returning home," though a famous story about a prodigal son who came home made many people think so.
| word | who it describes | praise or blame? |
|---|---|---|
| frugal | a careful saver | praise |
| parsimonious | a stingy saver | blame |
| avaricious | a greedy getter | blame |
| extravagant | a big spender | usually blame |
| prodigal | a wasteful spender | blame |
| profligate | a reckless spender | strong blame |
| munificent | a lavish giver | praise |
Largess (also spelled largesse) is the noun for what a munificent person gives. Affluent and destitute sit at the two ends of having: plenty and nothing.