Chapter 7

Investing in cash

A penny saved is a penny earned.

Benjamin Franklin

Cash is the simplest form of investment, and the one most of us are familiar with. Growing up in Melbourne, Australia, I had a Commonwealth Bank Dollarmite Savings Account, as many of us did. Each week my parents would send me off to school with 50 cents tucked into the plastic yellow folder that contained my deposit book. Each time I received my deposit book back, I would see my balance grow. I was encouraged from a young age to save for things I wanted.

The first thing I ever saved for was a bike: it was $74 and my parents agreed to pay half on the condition that I saved the other half. I was only about six years old and it must have taken me a long time to ...

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