“Penny wise and pound foolish”: meaning, origin and examples
What it means
The phrase means being careful about small amounts of money but careless about larger amounts, resulting in poor overall financial decisions.
Tone Cautionary, slightly critical
Where it comes from
The expression originated in England, where the penny and pound are units of currency. It has been used since at least the 17th century to warn against false economy.
Examples
- He saved a few dollars by skipping regular car maintenance, but now faces an expensive repair—truly penny wise and pound foolish.
- Trying to save money by buying cheap shoes, but having to replace them often, is penny wise and pound foolish.
- They cut corners on safety equipment to save money, only to pay much more in accident claims. That’s being penny wise and pound foolish.
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