Step 1: Understand the meaning of the sentence.
The sentence talks about giving up or renouncing worldly things.
Step 2: The correct word meaning to give up or do without is forgo.
Step 3: Examine the other options:
Fergo — not a correct English word.
Feorego — not a correct English word.
Forge o / Forgeo — incorrect spelling and meaning.
Step 4: Therefore, the correct homonym is forgo.