Wednesday, December 4, 2013

Quote of the Week - Milton Friedman

"Nobody spends somebody else’s money as carefully as he spends his own.” --Nobel prize-winning economist Milton Friedman

1 comment:

George Patsourakos said...

We tend to be especially frugal when we spend our own money, often saying to ourselves, "I worked hard for this money."

On the other hand, when we spend somebody else's money, we tend to be more concerned with saving ourselves time -- and thus we spend their money more rapidly -- without much concern about being frugal.