Spend: meaning, definitions and examples

Etymology

• The word 'spend' comes from the Old English 'spendan', which means 'to expend' or 'to waste'.
• In Middle English, the term evolved to mean to disburse or pay out, especially in the context of money.
• Its first known use dates back to the 12th century, showing how long the concept has been part of human economics.

Finance

• Household spending typically includes essentials like food, housing, transportation, and healthcare.
• Studies show that emotional spending, or buying things to feel better, can sometimes lead to regret once the feeling passes.
• The way we spend can impact our savings rate; the more we save, the less we spend on non-essential items.

Culture

• Many cultures have specific rituals around spending money, such as gift-giving during holidays that reflect values like generosity.
• In Japan, the concept of 'omiyage' highlights the cultural practice of bringing gifts for family and friends from travel, emphasizing sharing purchases.
• The phrase 'time is money' reflects the cultural understanding that how we spend our time can equally affect our financial health.

Psychology

• Research shows individuals tend to derive greater happiness from experiences, like travel or events, rather than material goods.
• Spending money on others can lead to a boost in emotional well-being, supporting the idea of 'paying it forward'.
• People often assign different values to 'needs' and 'wants', influencing their spending behavior and financial decision-making.

Economics

• Consumer spending is a major driver of economic growth, accounting for a significant portion of GDP in developed nations.
• The concept of 'disposable income' refers to the amount of money left after essentials are paid, highlighting what can be spent freely.
• During economic downturns, spending tends to decrease, which can lead to further declines in economic activity and employment rates.

At position #2,382, this word belongs to solid intermediate vocabulary. It's frequently used in both casual and formal contexts and is worth learning for better fluency.

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