Unwise financial procedure that could have company in money, strangely (5,7)
I believe the answer is:
false economy
'unwise financial procedure' is the definition.
'that could have company in money strangely' is the wordplay.
'that could' becomes 'false' (I can't justify this - if you can you should believe this answer much more).
'have' says to put letters next to each other.
'company' becomes 'co' (abbreviation).
'in' indicates putting letters inside.
'strangely' is an anagram indicator.
'money' anagrammed gives 'enomy'.
'co' inserted within 'enomy' is 'economy'.
'false'+'economy'='FALSE ECONOMY'
(Other definitions for false economy that I've seen before include "Specious financial saving" , "It doesn't pay in the long run" .)