Myth # 1 You have to have money to make money. Not necessarily. It takes little money to make money, if one is patient. In the same way as interest rates play against you when you go into debt, are helpful for a person who has a habit of saving. If a young person is thrifty and harnesses the power of compound interest rates, will accumulate a large sum of money at an early age. The deciding factor is time. The sooner you start the better. It is therefore very important to teach our children to save and invest those savings wisely. (more...)