How to spend other people’s money. Some tips.

Some excellent extracts from an article by Janet Albrechtsen in The Australian of September 19, 2012.

Four ways to spend money

Remember the four ways of spending money? If this sounds like the beginning of a joke by American political satirist P. J. O'Rourke, it is. Except that it's no joke and O'Rourke is simply echoing the four basic rules set down by Nobel Prize-winning economist Milton Friedman. Rules that we often forget at our peril.

First, I can spend my own money on myself in which case I really take note of how much I spend and what exactly I spend the money on.