The English idiom \u2018Penny Wise And Pound Foolish\u2019 meaning is to someone who is excessively concerned with saving and gaining small amounts of money in the beginning but failing to save a considerable amount for the long-term consequences.<\/p>\n\n\n\n
Penny means a small unit of currency or money in Britain and a Pound means a larger unit. The origin of this phrase is related to an old proverb, where a penny and a pound are compared. Pennywise means being careful and spending money wisely, saving every small amount possible. Whereas, pound foolish refers to someone spending too much money unwisely resulting in financial losses in the long run.<\/p>\n\n\n\n