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" We all know that money doesn&amp;#039;t grow on trees, but there are other money myths that a lot of people think are true. Check out these debunked money myths to build a successful financial future. Myth: Renting is a waste of money. Reality: The logic goes that if you&amp;#039;re renting, you&amp;#039;re throwing money away into a landlord&amp;#039;s pocket, and if you own, you&amp;#039;re putting money into your own pocket while building equity. This is actually an oversimplification of the realities of renting versus home ownership. What many people don&amp;#039;t realize is that home ownership comes with tremendous costs from property taxes to mortgage interest and maintenance. When your water heater breaks in a rental, your landlord takes care of it. But when you are the homeowner, the financial burden all falls onto your shoulders. Also, in today&amp;#039;s turbulent market, there is no way to predict if your real estate investment will make you money in the end or not. Myth: Buying things on sale saves me money. Reality: There&amp;#039;s nothing as satisfying as getting something you love for a great price. The problem is while you&amp;#039;re spending less on a particular purchase by buying it on sale, often in the long term you end up spending more money. It&amp;#039;s easy to rationalize a purchase or buy things we don&amp;#039;t need when they&amp;#039;re on sale. When you shop, set goals for what you intend to buy and stick to them. The smart way to shop sales is to wait until something you actually need or want goes on sale. Use a tool like Hukkster.com, which allows you to track items online and notifies you when they go on sale. Myth: I need a lot of money to invest.  Reality: People tend to think that investing is just for hedge funds, private equity firms and large Wall Street banks. But it&amp;#039;s a myth that you need a wallet the size of Warren Buffet&amp;#039;s to make smart and worthwhile investments. Before you start investing, make sure you&amp;#039;re in a good place with your savings, debt and emergency fund. Save up a small amount every month to invest, and do your research. Once you&amp;#039;re ready, look for an online broker that allows you to invest without a huge barrier to entry. You want a low- or no-minimum balance to be able to invest however much you are comfortable with. Also, beware of fees and be sure to build a diversified portfolio. Maitland Greer is a money-saving contributor to the Manilla Blog and senior marketing manager of Manilla.com, the leading, free and secure service that lets you manage your bills and accounts in one place online and via mobile apps. To get more personal budgeting tips, visit Manilla.com. "^^<http://www.w3.org/2001/XMLSchema#string>
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