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Do More Good blog image of an eagle soaring in the glow of the sun

Do More Good

Do More Good blog image of an eagle soaring in the glow of the sun

Do more good by discovering how to gain more confidence, clarity and choices when it comes to your money.

Cue the drums. Sound the trumpets. Light the fireworks. Drum roll, please.

We’re excited to announce the release of our Financial Freedom Tool!

It’s software which helps you gain more confidence, clarity and choices when it comes to your money.

We talked more about this on The BIGG Success Show today. Here’s a summary of that discussion…

Financial freedom. What does it mean to you? Never mind that for now, we’ll talk about that next time. It’s the “what”.

Today, we want to share with you the “why”. Because the Financial Freedom Tool is more than just a software program. It’s a device to help you do more good.

But we’re getting ahead of ourselves. Let’s start at the beginning…

Personal finance powered by entrepreneurial finance

At BIGG Success, we’ve always been about bringing entrepreneurship to life. Whether or not you ever own a business, you are in charge of a very special enterprise – your life. You own it. So, it pays to think like an owner.

In addition, it can be useful to look at your household as a business. It’s not a large business. It’s more like a small business.

[Mary-Lynn] Since George teaches Entrepreneurial Finance at the University of Illinois, he’s familiar with the tools of the trade.

[George] I realized some of the main tools we use in entrepreneurial finance – tools which help owners really understand what’s going on with their business finances – these tools weren’t available in the personal finance space.

Our Financial Freedom Tool brings these powerful entrepreneurial finance tools to personal finance. We think of it as entrepreneurial personal finance.

Now, regular folks have access to the tools smart business people have used for years to manage their business better. (And while powerful, we make it so easy to use and understand. All you need to know is that smiley faces are good and frowny faces aren’t.)

It provides you with information about your money that you have probably never seen before. So, you can easily pinpoint opportunities to get ahead and make better money moves.

Do more good

Money itself is just a tool. It’s neither good nor bad. Money reflects the nature of the person who holds it. So we asked a question:

What if the good people of the world had more money?

We concluded:

If good people have more money, we can change the world for good.

Good people do good things with money.

What prevents good people from doing more? What holds us back from doing as much as we would like – for ourselves, for our loved ones, for the world?

When we think about how we can do more good, we tend to think in the future tense. It’s almost like a dream.

“It will be awesome when I can do that.”

“Once I’m making more money, I’ll do that.”

“I’d love to help that organization some day.”

But “some day” is usually just another word for “never”. Don’t delay.

Our Financial Freedom Tool helps good people have more money, so they can do more good.

It starts by seeing where you’re at. You may be able to start doing more good sooner than you think.

Hope for today and tomorrow

Let’s face it – we live in challenging times. We have witnessed one of the worst recessions in the history of the world. Even in good times, it’s not unusual for a large company to announce massive layoffs.

All the rules seem to have changed.

We used to have pensions, funded by our employer. Now we largely fund our own retirement.

Health insurance was a benefit for employees. Now its cost is largely paid by employees.

Fewer people have traditional jobs. We are moving to a “gig” economy.

Costs rise, even when wages are stagnant. People have to do more with less today. It’s harder. It can be discouraging.

We built the Financial Freedom Tool to give you more hope for today and tomorrow. It helps you know precisely how your finances stack up and you see exactly what to do to get to the next level. One level at a time, you reach BIGG success!

BIGG Takeaway

“Pinpoint opportunities to make more, save more, and do more good.”
Tweet this BIGG Takeaway

Do more good today

Want to make more? Want to save more? Want to do more good?

Then you owe it to yourself to learn more about our Financial Freedom Tool.

Here’s to your BIGG success!

George “The Professor” & Mary-Lynn
Co-Founders, BIGG Success

Direct link to The Bigg Success Show audio file | podcast:
http://traffic.libsyn.com/biggsuccess/00957-120418.mp3

image of a treadmill for the blog post titled: The Hedonic Treadmill Costs You Money

The Hedonic Treadmill Costs You Money

image of a treadmill for the blog post titled: The Hedonic Treadmill Costs You Money

The hedonic treadmill is a behavioral finance concept that predicts that people’s happiness spikes with spending, but then quickly reverts back to its original place.

We discussed how the hedonic treadmill affects your money on The BIGG Success Show today. Here’s a summary of that discussion.

This show was inspired by an article on the Quicken Loans site by Jackie Lam. We talked about what the hedonic treadmill is, how it affects your money, and how to avoid getting stuck on it. This show is a reminder for us. We hope it helps you too.

Read more

Use the Rule of 72 to Simplify Your Financial Decisions

the rule of 72 a financial tool for BIGG SuccessToday on The BIGG Success Show, we brought back one of our favorite bits – Terms from a Hat. This time we pulled out…The Rule of 72.

Hear George & Mary-Lynn on The BIGG Success Show! Click the player to listen (Duration 6:40)

The Rule of 72 is a quick way to determine how many years it takes to double your money. You simply divide the interest rate into 72 to get the number of years it will take to double your money. For example:

Let’s say you have an investment that earns 6%. 72 divided by 6% = 12 years. You’ll double your money in 12 years.

See how easy that is!

Read more

Create Your Future for BIGG Success

stepping stones | BIGG SuccessBIGG success is life on your own terms. It’s about entrepreneuring your life, taking full control to design and build the life that fits you perfectly.

Money is one of the five elements of BIGG success. Money ain’t everything, but it sure comes in handy.

Hear George & Mary-Lynn discuss this post on The BIGG Success Show Podcast. Click a player below to listen:


iPhone/iPad Podcast Player

[haiku url=”http://traffic.libsyn.com/biggsuccess/00715-070511.mp3″ title=”The BIGG Success

Show #715″]

How the rich got rich

Would you put all of your money in a single investment?

Of course not. Financial advisors tell us to diversify our portfolio.

You want a portfolio of assets – we often think of stocks and bonds. But the most sophisticated investors also include alternative investments like venture capital and real estate.

“Isn’t that because they’re wealthy?” you may be asking.

According to research, the people who get rich – self-made millionaires – almost always invest in these alternative investments.

The riskiest investment of all

So let’s get back to the point of our original question. We’ve determined that we wouldn’t (and shouldn’t) invest all of our money in a single asset.

So why would anyone count on just one source of income?

Yeah, as in a job.

Doesn’t a job provide more security?

Ask all the people who were laid off and are still out of work.

So what’s the answer?

Don’t put all your eggs in one basket.

In other words, diversify your income just like you would your investments.

A job can be one of your sources of income. We just need to move past this old, tired notion that a job equals security.

Take control and create your future

You and you alone own your life. Take control of it. It’s a very special enterprise.

And you’re the entrepreneur of your life. You’re in charge of it. Think like an entrepreneur. Don’t try to predict the future. Create it.

The secret to doing that relies in moving beyond just having a job. Who can afford to take that much risk these days?

So you start controlling your future by creating a second source of income now.

You may buy a second house as a rental property. There are a lot of great deals right now. Or you may start your own business.

See what we’re doing. Just like sophisticated investors keep some alternative investments in their portfolio, we’re suggesting you earn some alternative income.

Income that offers the potential for significant returns on your time.

There’s the key – time is another one of the five elements of BIGG success. It’s your most precious resource.


But who has the time for a second source of income?

Nobody.

You will never have the time.

You will never find the time.

You have to make the time to be a BIGG success!

If you’re ready to start creating your future but don’t know where to start, maybe we can help.

Image in this post from Eastop

Direct link to The Bigg Success Show audio file | podcast:
http://traffic.libsyn.com/biggsuccess/00715-070511.mp3

Is Debt a Tool for Success?

cut debt | BIGG SuccessA recent study from Ohio State University shows that Gen Y feels empowered by debt. Participants with higher levels of debt reported both a higher self-esteem and a sense of mastery.

Now, you might think it was because they took on debt to pay for their education. But the researchers thought about that, too.

They found that education debt increased the feeling of well-being among participants in this nationwide study. But so did credit card debt.

Can you blame these young people for thinking this way? Didn’t many people in the two generations before them feel the same way at one time?

Buy now, pay later

Buy now and pay later. It sounds great now. But now becomes later faster than one expects.

It may feel great now. But it can lead to misery later.

Debt is a tool

You have to know how to use debt to get the results you want.

  • Debt can be good or bad. The walls of fame are paved with people who used debt to accomplish something BIGG. But so are the graveyards of shame.
  • Debt solves timing problems if used correctly. Buy an asset that returns 8% using debt that costs you 6% and you will increase your wealth.
  • Debt creates money problems if used incorrectly. Invest in an asset that only returns 5% with debt that costs you 6% and you will destroy the wealth you already have.

Want to feel poor? Become a slave to debt by investing in low return (or no return or worse) assets.

Want to feel empowered? Focus on building your net worth.

BIGG success is life on your own terms. Your terms, not your banker’s.

Image in this post from lusi