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Discover Ludwig"false economy" is a correct and usable phrase in written English.
It is used to describe the use of money or resources to create short-term savings, but which ultimately results in greater expense in the long term. For example, you might say "Choosing the lowest-cost option may seem like a good idea, but it can be a false economy if the quality is significantly lower."
Dictionary
false economy
noun
An attempt to economize that fails because the less expensive approach is somehow inferior.
Exact(59)
"It's a false economy.
It's a false economy, surely".
This could be a false economy.
It was, in fact, a false economy.
But this would be a false economy.
It's a false economy of course.
Looks like a false economy to me.
It was a false economy.
Is it a false economy?
It's a terrible false economy.
But it's a false economy!
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com