false economy
Shortsighted cost-cutting
A false economy is a choice that seems to save money but actually costs more in the long run.
Buying cheap shoes that wear out quickly, skipping routine maintenance, or understaffing to cut payroll—all may prove more expensive than the alternative: Skimping on insulation is a false economy when you're paying to heat the place.
- wastefulUsing resources carelessly
- shortsightedUnable to see ahead
- penny-wiseFrugal in minor matters
- pound foolishWasteful with significant amounts
- inefficiencySuboptimal use of resources
imprudent · myopic · short-term thinking · misguided · counterproductive · band-aid solution · unintended consequences · miscalculation · opportunity cost · good money after bad · short-termism · penny-pinching · skimp · cheap out · market failure · bargain hunting · cost-cutting · budget constraints
- Strategic Mistakesmiscalculation, overconfidence, underestimation, poor timing, overextension
- self-defeatingself-sabotage, backfire, boomerang effect, own goal
false economylong-term investment
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