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Spoil the ship for a ha’p’orth/ha’pennyworth of tar
Idiom Origin
Understand that this phrase originates from naval culture where not using enough tar could cause a ship to leak and decay. 
British Phrase
Remember it's a primarily British expression, so it's not as commonly used or understood outside the UK. 
Modern Relevance
Though historical, it applies today when small savings cause big problems. 