Definition, Meaning & Synonyms
penny-wise-and-pound-foolish
idiom
ˌpɛni waɪz ənd paʊnd ˈfuːlɪʃ
Definition
This phrase refers to someone who is careful about small amounts of money but fails to recognize larger expenses, which can lead to greater financial losses.
Examples
- She saves money by buying cheap groceries, but her penny-wise-and-pound-foolish approach leads her to pay more for repairs on her old car.
- Being penny-wise-and-pound-foolish, he spent hours searching for discounts on office supplies but didn’t consider the high cost of missed deadlines.
Meaning
To be careful with small details but wasteful or careless with larger sums. It illustrates a lack of overall financial wisdom.
Synonyms
- Foolish economy
- Short-sighted saving
- Misguided frugality
