One's good intentions are more important than one's actions. Typically said when something has gone wrong or has not worked out as one had hoped. Your grandmother couldn't make it to your recital because her car wouldn't start, but she really wanted to be there, and it's the thought that counts. A: "But I wanted a toy for my birthday, not a sweater." B: "It's the thought that counts, Benjamin. Your grandmother spent a lot of time making it for you."