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I am wondering if there is a Russian equivalent of the English idiom "A fool and his money are soon parted".

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    "Дурак платит дважды"? It's not exactly same, but I guess it's close...
    – Alissa
    Apr 19 '17 at 17:21
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    1. Без ума торговать – только деньги терять (Trading out of mind is only losing money). 2. На деньги ума не купишь. (One can't buy brains for money). 3. У дурака в горсти дыра. (A fool has a hole in his handful).
    – Yellow Sky
    Apr 19 '17 at 17:39
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    @Alissa "Скупой платит дважды", not "дурак".
    – Dmitriy
    Apr 19 '17 at 20:57
  • Damn. Sorry. It mixed up in my head, as I've heard a longer version: "Скупой платит дважды, а дурак трижды"
    – Alissa
    Apr 20 '17 at 12:42
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In numerous Russian books this English idiom (its sense: "Дурак легко расстаётся с деньгами") is compared with the Russian proverb: "У дурака в горсти дыра". An example of such a book: Пословицы и поговорки - английские, немецкие, французские с русским переводом (Энтраст Трейдинг, Москва 2015).

The page: https://books.google.ru/books/content?id=A7nYCQAAQBAJ&hl=ru&pg=PA11&img=1&zoom=3&ots=mRzKWAIIUY&sig=ACfU3U28TmxXWPOptmFAuwRawvK62wHw0g&w=1280

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Here is a list of proverbs meaning roughly 'it is not worth being a fool'. I'd vote for the last one as the closest Russian equivalent of the English idiom you have mentioned - though the first one might match some meaning of the phrase as well.

Дурак деньги напоказ носит.

Дураки о добыче спорят, а умные разделили ее.

Дурень и дом сожжет, так огню рад.

Дурак дом построил, а умница купил.

Дурак торгует, когда базар кончится.

Дураки да нищие не родом ведутся, а кому Б-г даст. (though here 'дурак' means rather 'mad' than 'a fool'.

Дураку все копейка.

Last, but not least, you can also use the not-so-delicate and less classical, but nontheless explicit Недолго музыка играла (sometimes followed by недолго фраер танцевал). This phrase can be used in a broader conext.

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