Spendthrift is actually a misnomer...split it as SPEND+THRIFT. Thrifty means, careful use of resources, so a spendthrift should actually mean someone who carefully spends money, but it means SOMEONE WHO WASTES MONEY.
Spend+thirst=Some1 who is thirsty for spending money
SPell the END of THRIFTiness. A Spendthrift may have been thrifty once, but now he isn't.
ORIGIN : SPENDTHRIFT = SPEND + THRIFT(SAVINGS)
SO it means who spend the savings.
Thrift is from the word thrive (ie. prosper). A spendthrift is someone who thrives on spending money
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