a fool and his money are soon parted

The story

First appears c. 1587 in the publication Defense of the Government of the Church of England as If they pay a penie or two pence more for the reddinesse of them..let them looke to that, a foole and his money is soone parted. An earlier quote from 1573 by Thomas Tusser reads "A foole and his money be soone at debate: which after with sorow repents him too late."