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What does 'penny wise pound foolish' mean?
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What do you say least he is Penny Wise and pound foolish?
- Saving money by not going to the doctor for regular check-ups (those $20 copayments can add up!) or taking the bare minimum health insurance plan, but having to pay a large sum in an emergency.
- Saving money by taking advantage of tens of thousands of dollars in 0% credit card balance transfer offers to gain a few hundred dollars, but being offered a higher mortgage percentage rate because of the temporary decrease in your credit score, costing thousands.
- Receiving the 15% discount for opening a store credit card, but paying the balance off slowly, adding interest fees (and possibly late fees).
- Locating the gas station with the lowest gas prices, but driving 20 minutes out of the way to save $0.05 per gallon, or, looking for the lowest gas prices but buying a vehicle with poor gas-mileage.
- Penny Wise and Pound Foolish Meaning
- Origin
- Penny Wise and Pound Foolish Examples
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This idiom comes from Great Britain, as it alludes to their currency the British Pound. One British Pound is made up of 100 pence. If you are said to be penny wise and pound foolish, you are extremely careful with smaller, inconsequential amounts of money, but you lose any gains you might receive from those savings on extravagant larger purchases. ...
The first recorded use of the phrase was in 1712 by Joseph Addison’s daily publication, The Spectator. I think a woman who will give up herself to a man in marriage, where there is the least room for such an apprehension, and trust her person to one whom she will not rely on for the common necessities of life, may very properly be accused (in the p...
In the modern day, someone might be said to be penny wise and pound-foolish if they scrimp and save on small purchases like groceries or gasoline, but they buy an expensive car or house that is way out of their price range. For example, someone who will drive across town to save five cents a gallon on gasoline but just recently purchased a BMW that...
Lanza said that many times in the past, freeholder boards have been “penny wise and pound foolish,” opting for less expensive options that don’t last. Even with declining numbers of people playing...
The English idiom “penny wise and pound foolish” is a popular saying that warns against safeguarding pennies while risking pounds. In other words, being stingy with small sums of money while being extravagant with larger sums.
Jun 29, 2023 · Below we have listed some examples of penny-wise and pound-foolish, where you will get an idea about how to use them appropriately. ‘My sister’s priority of immediate cost savings during the house renovation turned out to be a penny wise and pound foolish.’
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Penny-wise and pound-foolish is an idiom signifying the foolishness of saving small amounts of money while wasting much larger amounts at the same time. It’s like saying save a penny, lose a pound. Idioms such as penny-wise and pound-foolish are expressions or phrases that convey meanings beyond the literal interpretation of their individual ...
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Examples of Penny-wise and Pound foolish. John decided to cut costs by bringing his lunch to work every day instead of eating out. This penny-wise decision backfired when he realized he was constantly buying cheap, unhealthy foods that left him constantly tired and unproductive, losing him money in reduced performance at work.
PENNY WISE AND POUND FOOLISH in a Sentence Examples: 21 Ways to Use Penny Wise And Pound Foolish Have you ever heard the saying “penny wise and pound foolish”? This idiom refers to someone who is careful or thrifty with small amounts of money but wasteful or extravagant with larger sums.
Money. Pennies. What's the meaning of the phrase 'Penny wise and pound foolish'? Careful with one's spending of small sums of money but careless and wasteful with larger amounts. What's the origin of the phrase 'Penny wise and pound foolish'?
