IPA: /ˈpɛnɪləs/
KK: /ˈpɛnɪləs/
Having no money at all; being very poor.
After losing his job, he found himself penniless and struggling to pay his bills.
Penniless → It is formed from "penny" (from Old English *pening*, meaning a small coin or unit of currency) and "-less" (meaning without). The word "penniless" means without money or lacking any coins.
Think of being without a 'penny' — that's why 'penniless' means having no money.