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Penny wise and pound foolish

Posted by Priya on September 10, 2003

In Reply to: Penny wise and pound foolish posted by Sax on September 10, 2003

: Hi! My phrase of the day is: Penny wise and pound foolish. Can you please tell me what that means, and, perhaps, the origin as well...

: Thank you,
: Sax

The meaning of the phrase is something on the line of "saving a little money only to loose a great deal more due to their own stupidity"