Spendthrift

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Related to spendthrifts: Spendthrift clause

Spendthrift

One who spends money profusely and improvidently, thereby wasting his or her estate.

Under various statutes, a spendthrift is a person who wastes or reduces her estate through excessive drinking, gambling, idleness, or debauchery in a manner that exposes that individual or her family to indigence or suffering or who exposes the government to expense for the support of that person or her family.

When authorized by law, a guardian can manage a spendthrift's property. The purpose of the guardianship is to protect the ward and her property from her wasteful habits. Statutes that provide for the guardianship of spendthrifts are based on the right of the government to protect the property of its citizens for the benefit of themselves and their families and the community.

Cross-references

Spendthrift Trust.

See: improvident, prodigal, profligate, profuse

SPENDTHRIFT. By the Rev. Stat. of Vermont, tit. 16, c. 65, s. 9, spendthrift is defined to be a person who by excessive drinking) gaming, idleness or debauchery of any kind, shall so spend, waste, or lessen his estate as to expose himself or his family to want or suffering, or expose the town to charge or expense, for support of himself or family.

References in periodicals archive ?
Currency union preceding policy or fiscal union in the EU meant that saver nations had little control over the spendthrifts
Tightwads seem to outnumber spendthrifts by a ratio of three to two, Cryder's research suggests.
That is, on a scale with tightwad on one end and spendthrift on the other, people on one side tend to fall in love with people on the other.
and say he will promote ministers who save cash and sack spendthrifts.
SPENDTHRIFTS who blow a fortune in the sales can blame their parents.
Surely, on the basis that poachers make the best gamekeepers, this makes Sir John the best man for the job of hunting down spendthrifts wasting our money
Some spendthrifts say things like, "This is how my father did it," and they don't want to hear about other ways, she adds.
But disciplined spendthrifts claim coupons can shave up to 75percent off monthly grocery bills.
MANCHESTER United square up to Premiership spendthrifts Arsenal in the Community Shield tomorrow with Phil Neville insisting the Gunners will still be the team to beat this season.
Thompson followed up the creative insight of Geoffrey Best to the effect that the key division in Victorian society was the cultural gulf between 'rough' and 'respectable', and constructed an elegant interpretation of Victorian England through 'the rise of respectable society', he built on and reinforced a widespread orthodoxy which emphasized the importance of Evangelical religion, the acceptance of formal policing and, above all, the internalization of habits of deferred gratification, thrift, self-control, gravity, continence and economic rationality which helped to make Victorian England governable and thrust gamblers, drinkers, spendthrifts, and participants in illicit sex and violence to the margins in what others would call the triumph of a civilising process.
They are themselves always, and without any exception, the greatest spendthrifts in the society.
Even spendthrifts can grow a fortune just by socking a way a little on the side every month.