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Want to be a Millionaire? Here’s How to Think Like One

saleCNN Money recently asked forty people for the best advice they ever got about money. One of the people featured is Bill Nygren, the great manager of the Oakmark Select Fund.

He refers to an episode of the Johnny Carson show, where Johnny asked financial guru Andrew Tobias how someone with only $1,000 should invest it. Andrew Tobias said they should buy non-perishable items.

The crowd got quite a kick out of that answer!

Here was this great financial mind suggesting that people, with only a small amount of money, buy common, every day items instead of investing it.

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Saving money beats making money

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Decision-Making Test

By Bigg Success Staff
07-30-08

Test Yourself

decisions

How well do you understand decision making? The people at CNN Money have developed a great little quiz to help you know.

Spend 5 minutes or so finding out. You’ll see the correct answer after you answer each of the 10 questions. Then you can see your final score at the end.

Click here to take the quiz now!

Hear today's lesson and laugh on The Bigg Success Show. 

 

More Test Yourself

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25 Ways to Have More Money at the End of the Month

By Bigg Success Staff
05-14-08

Bigg Success with Money 

twenty-five 

Here are links to five great articles that each offer five great tips to help you have more money at the end of the month. We’ve listed the five points for your perusal along with a link to the actual article.


5 Ways to Improve Your Credit Score

#1 – Get copies of your credit report and make sure the information is correct.

#2 – Pay your bills on time.

#3 – Understand how your credit score is determined.

#4 – Learn the legal steps you must take to improve your credit report.

#5 – Beware of credit report scams.

These five tips come from the Federal Reserve itself. Check out their detailed explanation of how to improve your credit score.

 

5 Tips to Commuting for Less

#1 – Calculate alternatives.

#2 – Improve your mileage.

#3 – Look to your employer.

#4 – Find a buddy.

#5 – Call your insurance company.

Get the full scoop on cutting your commuting costs at CNN Money. Gerri Willis did a great job with this timely article. And speaking of cutting your costs of commuting …

  

5 Ways to Find Cheap Gas

On your computer
#1 – Widgets

#2 – The interweb

On your phone
#3 – SMS text messages

#4 – Mobile web browser

In your car
#5 – GPS system

You can get all the details to find the best price for gas. LifeClever, the place that helps you design, work, and live better.

  

5 Tips for First Time Investors

#1 – Invest with small amounts of money.

#2 – Don’t invest what you can’t afford to lose.

#3 – Try not to let your emotions control you.

#4 – Be realistic.

#5 – Embrace your failures.

Adam Freedman wrote this fantastic post as a guest of the Silicon Valley Blogger. Check out all the full explanation of these great tips for first time investors.

And now some financial tips for all of us …

 

5 Simple Tips for Financial Success

#1 – Don’t pay interest on anything except your home mortgage and other investments.

#2 – No instant gratification.

#3 – Pay minimum income tax and invest the difference.

#4 – Raise financially independent children.

#5 – Convert your salary into securities and real estate.

These are rather self-explanatory, but you can get some more details on financial success at Squidoo.

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Hear today's lesson and laugh on The Bigg Success Show.

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