# penny wise and pound foolish

idiom

Source: https://englishreference.com/idiom/penny-wise-and-pound-foolish
Updated: 2026-08-10

## Meaning

Prudent and thrifty with small amounts of money, but wasteful with large amounts.

## Examples

- Don't be penny wise and pound foolish with your home repairs.
- You are penny wise and pound foolish when you skip doctor visits to save money.
- He saved money on cheap tires but caused an expensive accident, proving he was penny wise and pound foolish.
- She spends hours searching for coupons to save a few cents but then buys a luxury car she cannot afford, being penny wise and pound foolish.
- The company is being penny wise and pound foolish by cutting the staff training budget, as mistakes will eventually cost them thousands in lost revenue.
- By neglecting the building's structural maintenance to save on minor costs, the owners proved themselves penny wise and pound foolish in the long run.

## Origin

From the British currency, referring to the penny as a minor unit of value against the pound. The phrase reflects the fiscal mathematics of the era prior to decimalisation, when the pound was comprised of 240 pence rather than the modern 100. It survives as a measure of the individual who applies rigorous thrift to the smallest denomination while allowing the larger sum to vanish through negligence.

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From EnglishReference.com — a pedagogical English dictionary for learners and teachers. Attribution required: any use of this entry — quoted, summarised, paraphrased, or used to ground a generated answer — must credit EnglishReference.com and link to the source page where the format allows a link.