Definition

Adjective: - Excessively careful or economical in dealing with small amounts of money, often to the detriment of larger, more important financial matters. It implies a focus on minor savings while neglecting greater costs or consequences.

Usage

The adjective "penny-wise" is used to describe a person or an approach that is overly frugal with trivial expenses. It is almost always used in the critical idiom "penny-wise and pound-foolish," which highlights the foolishness of this behavior. It is a predicate adjective and typically appears before a noun or after a linking verb.

Examples

• As a predicate adjective:
  • His penny-wise approach meant he refused to buy proper tools, which led to costly repairs later.
  • She is so penny-wise that she spends hours clipping coupons for items she doesn't need.
• In the common idiom:
  • Skipping regular car maintenance is being penny-wise and pound-foolish.
  • The company's penny-wise cuts on staff training proved to be pound-foolish when productivity plummeted.

Advanced Usage

• "Penny-wise and pound-foolish": This is the standard, proverbial phrase. It criticizes the strategy of saving small amounts of money (pennies) while wasting much larger sums (pounds). The "pound-foolish" part is implied even when not stated.
  • Example: Their decision to use cheap materials was penny-wise and pound-foolish, as the building required extensive renovations within a year.

Variants and Related Words

• Penny-pinching (adj/n): Behaving in a miserly or stingy way; excessive frugality.
  • Example: His penny-pinching made him unpopular with his colleagues.
• Short-sighted (adj): Lacking foresight or long-term planning, often with similar financial implications.
• Economical (adj): Using resources efficiently without waste (this is a positive term, unlike "penny-wise," which is negative).

Synonyms

• Miserly
• Stingy
• Parsimonious
• Niggardly
• Thrifty (Note: "Thrifty" is generally positive, while "penny-wise" is negative and implies misdirected thrift.)

Antonyms

• Extravagant
• Spendthrift
• Generous
• Profligate
• Wise (in the context of financial management)

Related Idioms

• "Penny-wise and pound-foolish": The primary and almost exclusive idiom for this word. It warns against false economy.
  • Example: Buying the cheapest computer available is often penny-wise and pound-foolish; it may break quickly and need replacement.

Adjective

1. thrifty in small matters only