1. careful in small matters but careless about important things; saving small amounts of money while wasting large amounts

1. That was penny-wise and pound-foolish. You saved a dollar in car fare when you walked all the way home, but now you need new sneakers.

2. The plans to cut funding are penny-wise and pound-foolish.

3. Sam: If we drive to six different grocery stores, we’ll get the best bargains on everything we buy. Alan: But with gasoline so expensive, that’s penny-wise and pound-foolish.