‘YOU NEED MONEY TO MAKE MONEY’

THE TRUTH: You don’t need a lump sum to start building wealth.

A lot of people think they’ll be able to save more when they get a pay rise, win the Lotto or get a decent tax return. ‘But what usually happens is, the more money you get, the more money you spend,’ says Noel. It’s very easy to spend more than you make, which is one of the reasons I refuse to have a personal credit card.’ Instead, he advises, decide now to set aside at least 10 percent of your money, no matter how much you earn. If you’re convinced there’s nothing left over after your average weekly spend, think about how much of your hardearned money goes towards unnecessary spending or buying stuff you don’t need just because it’s on sale. According to SAbased market researchers Insight Survey, in 2015, more than 80% of adults bought fast food at least once a month.