Hi Hanuman, (1) 'He liked to say' means 'he used to say, and enjoyed doing so frequently'. (2) 'Money saved' = money which one has saved; 'money earned' = money which one has worked for. The proverb is, 'A penny saved is a penny earned', and means that if one is careful with one's money and does not wastefully spend it, it is the same as earning it anew.
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