In essence:
1. Select Finder, click on Go from the menu bar and select Go to Folder
2. From the dialog box that opens, type:
/System/Library/CoreServices/
and press Return
3. Locate Finder application, right click on it, and select Show Package Contents
4. Navigate to Contents>Resources>English.lproj and open InfoPlist.strings in a text editor
5. Navigate to the line which says
“Folder” = “Folder”;
at around line 7 of the file, and simply add an empty space or a symbol (such as “.” or “~”) in front of the second “Folder”.
6. Save the text file, type in the Administrator password when asked, and close the text file.
7. The final step would be to restart finder, which you can achieve by holding in the ALT or OPTION key and right clicking on the Finder icon in Dock, then selecting Relaunch.

Full detailed tutorial can be found here: thanks to “Budding”