Penny-wise

Penny-wise describes a person or action that is careful and frugal with small amounts of money, sometimes to the point of being excessively so. This behavior often prioritizes saving small sums while potentially overlooking larger, more significant costs or opportunities. The term suggests a focus on immediate financial gains from minor savings without considering the broader, long-term consequences. It implies a meticulous approach to spending, frequently associated with thriftiness but potentially bordering on being overly economical or even miserly. The emphasis is on conserving or saving money, often at the expense of comfort, convenience, or quality.

Penny-wise meaning with examples

• The company's penny-wise approach to office supplies meant employees were often lacking essential resources, ultimately hindering their productivity. Buying cheaper printer paper saved a few dollars initially, but the resulting downtime and inefficiency cost the company far more in the long run. This penny-wise, pound-foolish decision ultimately impacted the bottom line.
• Sarah was incredibly penny-wise at the grocery store, carefully comparing prices and using coupons. While she saved a few cents on each item, she spent hours clipping coupons, which could have been used to better benefit her own business. This penny-wise budgeting had become an obsession, hindering her time with family and productivity with her work.
• Although he was penny-wise with his personal spending, the millionaire was generous when it came to his charitable foundation. While he always compared the costs of everything, he donated hundreds of thousands of dollars to several foundations which benefited many. It seemed that for him being penny-wise was his way of making a greater impact.
• The penny-wise traveler always packed their own snacks and water, skipping any purchases at airport convenience stores or on the train. They'd often arrive hungry and thirsty instead of purchasing something convenient. While this saved money, it sometimes compromised their enjoyment and convenience of the trip.