Money lessons hidden in everyday language

Penny for your thoughts?

I’m kidding, instead let me tell you mine (I won’t ask for a penny either - how demure of me!)

Apart from money, what’s something else people usually assign value to? Something they treat as a form of currency? Time, definitely, but also language.

There is value in language, a currency exchanged between individuals which carries meaning.

And just like money comes in different currencies, in a similar way language needs to be exchanged, translated. But, something will always be lost in translation, just like you lose some money in exchange fees.

Don’t lose money in translation

What’s interesting though is exploring different money idioms and comparing how various countries use language to express financial concepts.

While a lot of the time this “transaction” between different languages results in some words and concepts being lost, the meaning remains the same, with a lot of countries having similar versions of the same money proverb.

Paying through the Nose

Origin: Ireland/Denmark

Meaning: Starting off strong, the idiom “paying through the nose” has its origins in a story of Vikings and conquering. When the Danish Vikings conquered the Irish, they imposed heavy taxes. What happened to those who didn’t pay you ask? Well, let’s just say they couldn’t smell it coming (too on the nose?). Their noses were slit, giving us the phrase we use today which means paying an extortionate amount for something usually cheaper. (And I thought filling out a self-assessment tax bill was a pain!)

Piggy Bank

Origin: UK/Germany/China

Meaning: You might have always associated Piggy Banks with pink looking clay pigs in which you store money. Well, I might have a little history lesson for you. You see, this idiom doesn’t just reflect a money concept but also teaches us about the English language itself. Before banks were a concept, people kept their money at home in clay jars. This clay was called “pygg” - pronounced “pug” - hence people collected their coins in pygg pots. However, money systems are not the only things that have changed. The pronunciation of “y” changed and “pygg” sounded the same as the animal we know and love today.

Disputes are bound to rise when it comes to claiming the origins of a concept, and some say that the idiom “piggy bank” originated from Germany or China where pigs are associated with wealth.

Open your own (piggy) Jar!

Go Dutch

Origin: UK

Meaning: No, going Dutch does not mean growing taller, nor becoming very prompt with appointments (though that is a good quality to have, so you should consider it). Going Dutch is an idiom originating from the 17th century when the UK and Holland weren’t on the best of terms. As a way of mockery, going Dutch was used as a way of calling someone stingy or to suggest splitting the bill evenly.

Put your money where your mouth is

Origin: US/UK

Meaning: A lot of the time idioms may have originated from financial concepts, however with use and time they took on different dimensions. When you say “put your money where your mouth is”, you’re not literally asking someone to put money in their mouth (that’s just gross and unhygienic). What you are asking them is to follow through with what they have said. To turn their words into actions.

You want to exchange money without paying hidden fees at the mid market exchange rate? Well, put your money where your mouth is and open a Wise account!

Put your money where your mouth is

Put all of your eggs in one basket

Origin: Spain/Don Quixote

Meaning: In a similar way to how some idioms referring to money might not necessarily be about money, some others are directly related, even though no one would think to liken eggs with money.

I know it may not sound like it but this one is for the romantics… the literature lovers. Found in the pages of the well-beloved novel of Don Quixote, “don’t put all your eggs in one basket”, is used as a way of preventing someone from putting all of their money/ investments in the same space. Spread the risk = avoid breaking all the eggs.

A Bird in the hand is worth two in the bush

Origin: UK

Meaning: Moving from eggs to birds, this one might sound quite familiar to you, and that’s because there are different versions and translations of it in many countries. The idiom is meant to warn against being too greedy. However, its origins have more of a captivating story. Dating back to the 1400s, it refers to falconry and how it was more valuable to have a bird at hand, than two free birds out in the wild. It’s a catch!

Money has no smell

Origin: France

Meaning: “L’argent n’a pas d’odeur” in French, this idiom is used when talking about someone who is willing to go to any lengths to make money. The literal translation, that money has no smell (sniffs banknote to test theory) describes how money is all the same, and to some the how they get the money outweighs the how much money they can get.

Whatever shines is not gold

Origin: Greek

Meaning: “‘Ό,τι λάμπει, δεν είναι χρυσός.” This Greek proverb might be linked to money, and gold, but its meaning expands according to the context in which it’s used. It warns you that something which may at first shine and appear valuable, might not be what you think it is - in this case, gold.

This is similar to the English idiom “Fool’s Gold” - originating from when explorer Martin Frobisher brought back iron pyrites, mistaking them for gold. But while they might look similar, their worth is miles different.

Money may be what makes the world go around, but language and communication aren't far behind.

And what’s interesting is that in whichever language or country you choose to spend your money in (even if you’re thinking about exchanging money between 40+ currencies), some concepts remain the same, even if their translations differ.

Next time someone tries to school you on money matters, hit them back with the origins and meaning behind the proverb they’re using (have I just equipped you with the perfect party trick?!).

Click below for some more information on how to manage your personal finance, and avoid being a fool with your gold.

Don’t be a fool with your gold

Written by Eleni Socratous