Penny wise and pound foolish
Meaning
To be extremely careful about small expenses but careless or wasteful with large sums of money.
Origin
The phrase captures a timeless human folly. Its earliest printed form can be traced back to at least the 17th century in England, appearing in works by authors like Robert Burton and John Selden. The imagery is distinctly British, using "penny" and "pound" as units of currency, highlighting the contrast between the smallest and larger denominations. The core idea is simple: focusing too much on saving tiny amounts while overlooking or mismanaging much larger expenditures. Imagine a frugal shopkeeper meticulously counting every penny spent on office supplies, only to then squander hundreds on a poorly planned marketing campaign. This stark contrast, between microscopic thrift and macroscopic waste, highlights a fundamental flaw in judgment, a lesson in economy that resonates just as strongly today as it did centuries ago.
Examples
- He refused to pay for a proper car inspection, only to spend thousands on repairs a month later; truly penny wise and pound foolish.
- Businesses that skimp on employee training to save a few dollars often find themselves penny wise and pound foolish when productivity plummets.