Throw good money after bad
Meaning
To spend more money on a failed venture or bad investment in a futile attempt to improve it, only to increase the overall loss.
Origin
The core concept of wasting valuable resources on a lost cause is ancient, but this phrase crystallized it perfectly for financial matters. Early variations, such as 'to cast good money after ill,' emerged in 17th-century Britain, capturing the exasperation of pouring more valuable resources into something already proven worthless. It vividly paints a picture of someone literally tossing their hard-earned cash into a metaphorical abyss, hoping to retrieve something, but only sinking deeper. Over time, the phrasing solidified, becoming a stark warning against the human tendency to double down on losing bets, a bitter lesson learned in countless failed ventures and desperate gambles.
Examples
- After losing thousands on the stock, she decided it was time to cut her losses rather than throw good money after bad.
- The committee warned against allocating further funds to the failing project, advising them not to throw good money after bad.