If debt is bad, can you imagine what would happen to companies if they are not allowed to take loans from banks? As a general rule, if you use debts to buy things that increase in value over time, they are good debts. You must know whether debt you're taking is good or bad.

Money Myth 4: You need money to make money. When I ask my friends what's stopping them from starting their own business, common answer is "I don't have money. And it takes money to make money." I do agree that it takes money to make money. But does it really to be your own money?

Everybody has limited resources when it comes to achieving our financial goals. I do not expect you to have everything when you plan to build your own business. You might need financial backing, manpower, expertise, or a coach to guide you. If you lack resources in any areas, find resources. Someone else will definitely have it. It does take money to make money, but you can use OPM - other people's money.

Money Myth 5: Investing is risky. Many think that investing is risky because they lack education in investing. Investing itself is not risky if you know how to control risks. Most of us invest based on a tip from a friend or broker without doing our own research. When you lose money, you say that investing is risky. And you tell yourself that you'll never invest again.

To be frank, everything we do has a risk in it. Learn to manage risks by educating yourself. You can educate yourself by attending seminars, reading books, or even from Internet.

Money Myth 6: Wealth reflects in material possessions. Material possessions reflect your level of wealth. This is a misleading measurement. Someone who is driving a Porsche might not be rich and he might highly in debt.

Wealth does not reflect in material possessions. Wealth is a state of mind. Wealth is how fast you can become rich if you're stripped of everything. As Henry Ford once said after he was asked what he would do if he lost all his fortunes, "I'll become a millionaire again within five years."

We possess one or more of above myths, consciously or unconsciously. But what is more important is to be aware of myths and replace myths with facts. By doing this will tremendously improve your financial well being.

I'm so happy for her that these untoward incidents actually made her to stop and think about her life and re-prioritize her life, which she never did before.

She turned loss of loved one and loss of job into power and strength.

Because of these incidents, she had courage and decided to be her own boss by joining her friends in a business venture. She feels that she has now more control of her life and career.

She explained to me that she now gains more satisfaction from life which she never felt before.

Is this what we call "blessing in disguise" for her? My friend has definitely changed a lot...at least for better.

Most of us will not budge from our comfort zone unless something very dramatic happens to us: loss of loved ones, divorce, loss of job, or sickness.

How many of us dream of being our own boss but no action taken?

Do you want what happened to my friend to happen to you so that you'd really sit down and think about your life? And do things that you really love?

Or, do you want to do it now?

The choice is yours.

Do not wait for things to happen. Take charge of your life proactively. Take my friend's experience as an inspiration to live your dreams.