What is a Spendthrift?

Table of Contents

Not Like it Sounds

The components of the word spendthrift (spend & thrift) would seem to imply someone who is thrifty. However the meaning of spendthrift is almost the exact opposite.

A spendthrift is someone who spends their money carelessly – frequently spending well beyond their means with a reckless disregard for their financial situation.

Are You Or Someone You Know A Spendthrift?

As is so often the case, whether or not you view yourself or someone else as a spendthrift can greatly depend on your own spending habits. The more frugal you are – the more likely you are to view someone else’s less-than-frugal ways as signs of a spendthrift. And conversely, the more carefree you are about your own spending, the less likely you are to view someone else as a spendthrift.

Here are some of the behavioural signs that might indicate a tendency to be a spendthrift:

  • Can’t/won’t save first and then buy non-essentials
  • Finds it very hard/impossible to leave money sitting in a savings account
  • Spends on impulse even if the money needs to be spent on necessities like food, rent, payments, etc.
  • Resents others for pointing out over spending
  • Views spending freely as a ‘right’

Is There a Cure?

You cannot plan on changing someone else’s habits and thinking. Many people’s relationship with money is based on things you and they may never fully understand. People only change when they want to change.

However, if you have identified yourself in any of the above behaviours, and you want to change – then you can take steps to improve your own spending habits.

  1. At the risk of sounding too 7-steppy – the first step is to admit that you have a problem with spending – and then commit yourself to changing.
  2. Get a better understanding of your spending habits by keeping a detailed and complete spending journal for at least one month.
  3. Get a clear idea of where your finances are by going through the budget process. This will help you to detail your money situation, identify areas that need to be improved, and show you a way out of debt.
  4. Commit yourself to your budget and getting out of debt.
  5. Stop spending money you do not have.
  6. Stick with it.

Clearly, if your spending habits are too much for you to handle on your own, get professional help. Speak with your doctor to get a referral to a behavioural specialist.

And of course, if you are too far in debt to ever pay it off on your own, it may be time to speak to a trustee for a complete evaluation of your finances and a review of all your options for getting out of debt. If you live in the Toronto area, you are welcome to call David Sklar & Associates at 416-498-9200 to book a free consultation with one of our licensed, caring professionals.

Take Your First Step Towards A Debt Free Life

If you are overwhelmed by debt, call us at 1-844-962-9200 to book a FREE, confidential appointment. We will review your financial situation in detail and discuss all of your options with you. Alternatively, you can fill out the form below and our team will reach out to you. 

Share This!

Great experience i was in financial trouble and someone of my friends recommended this company. Cori is a wonderful and welcoming person she did a very good job and came up with a smooth and flexible monthly payment after the reduction. i highly recommend this company. Thank you David sklar and special thanks to Cori.❤️🙏🏻
Jasmine Joseph
22:08 13 Jan 23
Met up with Mr. Jason Sklar to discuss more in person, very thorough and clear. He is very kind and thoughtful, I will be referring anyone with the same situation to David Sklar & Associates.
Ariel Domingo
02:33 29 Dec 22
I was a reck talking yo Jason Sklar was easy comfortable he explained everything and put my mind at ease I would recommend the team od sklar to everyone. I have already talked to my ci workers about them
kevin mcweeney
01:13 22 Dec 22
The team at David Sklar & Associates is fantastic.I worked with Jerry whom not only made - what seemed like intimidating process to initiate at first - comfortable.He made everything transparent and took the time to explain the process every step of the way.He was kind, attentive, and professional. Everything was made straightforward and stress free and we found a solution together that worked.Thanks to Jerry and the team.
Jordie Angiolillo
18:22 21 Dec 22
From day one till the end which is today😁 DavidSklar gave me a 5star service and treatment. And I will 100% recommend him and his Associates. This is the best Christmas present ever! Thank you David! More business to come! Merry Christmas and a Happy New Year!!!
barbee diaz
16:37 16 Dec 22
I FOUND DAVID SKLAR & ASSOCIATES BY GOOGLING "BANKRUPTCY" (EARLY NOV. 2021). ON NOV.4, 2021 I HAD A MEETING WITH CORI NARON AT HER OFFICE AT ST CLAIR ANDBATHURST. HER POSITIVE APPROACH TURNED ASTRESSFUL SITUATION INTO A STEP BY STEP UNDERSTANDABLE PROCESSON SEPT. 23, 2022 I OBTAINED MY AUTOMATICDISCHARGE FROM BANKRUPTCY AND MY CERTIFICATE OFDISCHARGE.THANK YOU CORIBRUCE BURGESS
bruce burg
21:35 02 Dec 22
Jerry was wonderful and provided superb service. He is very knowledgeable, trustworthy, and made an intimidating and shame filled time in my life stress free. I hesitated for a long time to take the next step, but Jerry answered all questions, was patient and made the process effortless. I am eternally grateful, and highly recommend Jerry’s services.
M J
18:41 01 Dec 22
Jerry was professional and was easy to deal with
Debbie Asquith
00:09 29 Nov 22
I was quite nervous and a little embarrassed that I needed financial advice. I met with Jerry Janiec and he was very helpful. He made me feel comfortable and explained everything in easy to understand terms so that I understood what my options were. I would recommend David Sklar & Associates for anyone in my position.
Melissa Blackburn
19:53 17 Nov 22
I was fortunate enough to be referred to David Sklar & Associates Inc. by a family member. Now in the10th month of a Consumer Proposal process, I am very impressed with the organization, professionalism and impeccable customer representation that I have experienced. To this effect, I amparticularly thankful to Jerry Janiec and Rhoda Lewis for their excellent work.
Suzanna Vaclavik
12:21 16 Nov 22
DS david skalr icon

Book your free consultation.

Call 1-844-962-9200 or fill out the form below.

We know this is stressful, but you’re not alone. It’s going to be okay. 
Book your free consultation today. We’ll do the rest.

Contact Us