What does the idiom “Penny Wise, Pound Foolish” mean?
Definition:
Trying to save money in such a way that more will be wasted later
For example:
“Yes, we could patch the road, but that’s penny wise, pound foolish—it’ll just have to be repaved completely next year anyway.”
Notes:
Although the pound is a British unit of currency, this expression is understood and occasionally used in the USA.
