From cows to poker: 10 surprising financial word origins

Modern financial terminology is deeply grounded in history and physical objects, originating from medieval garments, board games, livestock management, and gambling, long before spreadsheets existed. These 10 terms you use every time you set a budget or swipe a card had a totally different meaning. Prepare to be amazed.

Many centuries ago, when bank accounts didn’t exist, wealth was measured in livestock. Ancient pastoral societies counted cattle, goats, and sheep "by the head" (caput in Latin) to calculate an estate’s net worth.

The Latin adjective capitalis referred to things related to the head, eventually evolving into the Italian capitale during the 16th century to describe a merchant’s stock or investment. Although today investors don’t herd cows on Wall Street, the linguistic link between counting livestock "heads" and financial "capital" remains intact.

In the modern world, "budgeting" means managing a digital spreadsheet, but long ago a budget was a physical container. The word stems from the Latin bulga (a leather knapsack), which entered Middle French as bougette, meaning a small leather pouch or wallet.

In 18th-century Great Britain, the Chancellor of the Exchequer (the chief finance minister) carried a leather bag filled with national revenue statements and expenditure plans to the House of Commons. Opening the bag to present the nation’s finances was described as "opening the budget". Over time, the name transferred from the pouch itself to the financial plans kept inside.

The word check traces back to the game of chess. Borrowed through Old French from the Persian word šāh ("king"), placing an opponent’s piece in check was a direct warning that the king was under threat.

From the notion of putting a limit on the king’s movement, the verb check expanded into general English to mean inspecting, halting, or verifying accuracy. By the late 18th century, financial institutions issued written payment orders featuring a counterfoil (a slip retained by the bank to "check" for forgery), giving rise to the modern paper check.

During the 17th century, shipowners and financiers gathered at Edward Lloyd’s coffeehouse in London to negotiate marine insurance for transatlantic trade voyages.

A document would be prepared describing the vessel’s cargo, crew, destination, and risks. Investors willing to take on a portion of the financial risk would literally write their names and the exact financial share they agreed to cover under the proposal text. Consequently, anyone guaranteeing financial risk in exchange for a premium became known as an "underwriter".

In modern stock markets, a "blue-chip" stock stands for a reliable and financially sound company with a long record of stable earnings. However, the metaphor comes straight from high-stakes poker.

By the 19th century, casinos assigned different monetary values to colored gaming chips, reserving white for low values, red for mid values, and blue for the highest value chips. In the 1920s, financial journalist Oliver Gingold of The Wall Street Journal began referring to high-priced stocks as "blue-chip stocks", permanently embedding poker jargon into market terminology.

To invest capital today implies buying financial assets with the expectation of generating profit. Historically, however, invest meant to put on clothing. Derived from Latin in- ("into") and vestire ("to dress," the root of vestment and vest), the word described granting power or office to someone by dressing them in official robes.

Italian merchants in the 16th century adapted investire metaphorically to describe "clothing" or "dressing" capital into a new commercial form, such as trade ventures.

A financial penalty imposed for a violation seems harsh, but the original concept of a fine was peaceful resolution. Rooted in the Latin finis (meaning "end", "limit", or "termination"), the word moved through Old French as a term for bringing a dispute to an end.

In Medieval English systems, a fine was a sum paid by a defendant to terminate legal proceedings and settle a feud. Initially, it wasn’t a punishment, but a final settlement payment that concluded a conflict once and for all.

Nowadays we view income as money earned from employment or investments, but its original 14th-century meaning had nothing to do with finance. The word was a compound of "in" and "come", denoting a physical arrival or entrance (such as a person entering a room).

In theological contexts, it described spiritual inspirations "coming into" the soul. It was not until the late 17th century that the term narrowed down to mean the monetary inflow generated by an estate or enterprise.

A fund represents a foundational reserve of capital. The word stems from the Latin fundus, which referred to the bottom or base of an object, as well as a foundational piece of land.

The word entered English via the French fond (meaning ground, bottom, or stock). In the late 17th century, English financiers Latinized the spelling to fund, using it to mean a solid bottom layer or monetary store upon which financial operations could securely rest.

As we know, crash is a sensory word describing the loud, smashing sound of objects colliding violently. Its metaphoric entrance into financial markets occurred during 18th-century speculative panics, particularly the collapse of the South Sea Bubble in 1720 and the Mississippi Scheme in Paris.

People used the word to evoke the sudden, noisy destruction of inflated paper fortunes hitting rock bottom. The term became permanently cemented in global economics after the catastrophic October 1929 "Wall Street Crash".

Portents of doom

Black cats and broken mirrors: 10 bad omens throughout history

Image: Kasturi Roy

Human societies have always been fascinated by what the future might hold—and with this yearning to glimpse what lies beyond the horizon came a host of very strange ideas. From the twitch of a cat's tail to the flight of birds, cultures around the world have interpreted various natural events as imbued with prophetic significance. And many of these foreboding signs were believed to predict misfortune or disaster, often helping people make sense of the unexpected. Join us as we explore 10 of the most notorious bad omens that have instilled fear and superstition throughout the ages.

Image: Kristin O Karlsen

In many cultures, and particularly in Western folklore, a black cat crossing your path is seen as a bad omen. This belief likely stems from the association of black cats with witchcraft during the Middle Ages, when they were often believed to be witches' familiars. However, in some instances, black cats could be considered symbols of good luck, and sailors were known for favoring black cats for company aboard their ships.

While many people today keep black cats as pets and no longer associate them with any superstition, the myths surrounding these felines remain well-known and frequently appear in fiction.

Image: Mick Haupt

Breaking a mirror is said to bring seven years of bad luck, a belief that originated in ancient Rome, where mirrors were seen as portals to the soul. The idea was that damaging one's reflection could harm the spirit or even anger the gods, who were also believed to spy on mortals through mirrors.

To be fair, in antiquity mirrors were difficult to manufacture and considered prized possessions, so it's understandable that various social fears and taboos arose around breaking one. But why seven years of bad luck specifically? Romans believed the body renewed itself every seven years, meaning technically no curse could last longer than that.

Image: Waldemar

The combination of Friday and the number 13 has long been considered particularly unlucky in Western culture, with roots in both Norse mythology and Christian tradition. In Christianity, the Last Supper featured thirteen attendees, with Judas Iscariot's betrayal occurring on a Friday, cementing the date as one of ill fortune.

Similarly, in Norse mythology, twelve gods were feasting in Valhalla when the uninvited trickster god Loki arrived as the thirteenth guest. His presence caused chaos, ultimately leading to the death of Balder, the god of joy. The extent of the myth surrounding the number 13 is such that, even today, some buildings skip the 13th floor entirely, and in the United States alone, nearly 20 million people are estimated to avoid traveling or following their normal routines on this date.

Image: Steve Smith

Crows and ravens have long been associated with various myths and legends throughout the ages. The ancient Romans believed that a crow’s call foretold impending doom, while Celtic traditions linked these birds to battle and death. In the Norse pantheon, Odin was often accompanied by a pair of ravens, who were considered messengers —or sometimes spies—of the gods.

For Native Americans, ravens were often seen as tricksters, much like coyotes, playing pranks on unsuspecting mortals or following their own mysterious designs. These superstitions deserve some credit, as corvids are known to be among the most intelligent species on the planet, with cognitive abilities comparable to those of great apes, according to some scientists.

Image: Lilian Jeane Schiffer

We have co-evolved with dogs to the point where we are highly attuned to their barks, howls, and tail wags—signals that our furry friends use to greet us or even alert us to unseen dangers. However, dogs weren’t always the friendly companions we know today, and there was a time when the howling of wolves in the dark could only mean imminent danger.

So, it should come as no surprise that howling wolves were often interpreted as portentous by ancient cultures. For example, Virgil noted that howling wolves were among the many omens that foretold the assassination of Julius Caesar and the onset of civil strife.

Image: Jason Tuinstra

Spilling salt has been seen as an ill omen for centuries, and even today, some people can’t help but flinch at the sight of a fallen salt shaker. The belief, however, might be rooted in practicality. In ancient times, salt was so valuable that it was often used as payment—hence the origins of words like "salary" or "soldier."

To counteract the bad luck associated with an accidental spill, some believe that tossing a pinch of the spilled salt over the left shoulder can ward off evil spirits. However, the most practical remedy might simply be to gather up as much of the spilled salt as possible and return it to the container.

Image: iridial

In various East Asian cultures, the number 4 is considered highly unlucky because it sounds similar to the word for "death." This aversion has led to buildings skipping the fourth floor and even changing phone numbers to avoid the ominous digit.

While the aversion to the number 4 may seem akin to the fear of 13 in Western cultures, the phobia associated with 4 far surpasses its Western counterpart. It is so deeply ingrained in the culture that even the business world takes significant precautions to avoid the number in any context.

Image: Mandy Ferrer

In Slavic cultures, whistling indoors is often seen as a bad omen, believed to invite misfortune or bad luck into the house. Whistling outdoors, however, is generally considered acceptable. This superstition may have originated from the belief that whistling could summon spirits or disrupt harmony within the home.

Among sailors, whistling aboard a ship was thought to encourage the wind to pick up, which could be either beneficial or detrimental depending on the weather—you might accidentally end up whistling up a storm.

Image: joel herzog

For millennia, strange animal behavior has been seen as an omen of impending misfortune. Interestingly, this superstition may have roots in actual truth, as the phenomenon of animals fleeing or behaving restlessly before natural disasters has been observed repeatedly. And there is ample historical evidence to support this belief.

The Greek historian Thucydides reported in 373 BC that rats, dogs, snakes, and weasels deserted the city of Helice in the days leading up to a catastrophic earthquake, and throughout history animals have been known to predict disasters such as floods, earthquakes, and even volcanic eruptions with remarkable precision. Some scientists even suggest that many animals can instinctively detect minute electromagnetic changes in the atmosphere, which might often precede impending earthquakes and other natural disasters.

Image: Steve Busch

Comets have historically been viewed as bad omens, often seen as harbingers of disaster or significant change. Their bright trails frequently incited panic and hysteria among the public, and recurring comets like Halley's Comet were even linked to the death of kings and other calamities.

More recently, during Halley's Comet's passage in 1910, spectroscopic analysis revealed the presence of the toxic gas cyanogen in the comet’s tail. This led to sensational newspaper reports claiming that the gas would contaminate the atmosphere and potentially extinguish all life on Earth. Despite reassurances from scientists that the gas posed no threat, mass hysteria ensued, leading people to buy gas masks and even "anti-comet pills."