be penny-wise and dollar-foolish

To be so concerned with saving money in any way possible that one fails to allocate enough money to solve large or important problems, ultimately forcing one to spend more in the long run. I know you don't want to pay for this expensive course of treatment, but when ignoring your health lands you in the hospital and you have to miss work, you'll see that you were penny-wise and dollar-foolish. Don't be penny-wise and dollar-foolish when it comes to home repairs. Saving a few hundred dollars now on shoddy work could cost you several thousand down the line! Come on, Dad, just pay for a smartphone that actually works. Stop being penny-wise and dollar-foolish.