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Coaching Kids to be Clever Consumers

word_money.jpgBigg success is life on your own terms. The five elements of bigg success are money, time, growth, work and play. Today we want to focus on money.

Here’s a bigg challenge faced by a lot of people – you’re trying to save money. You’ve done everything you know to do. You may even have your spouse on board, but what about the kids?



Smart savers


georgeMy mom was a dedicated saver. She taught me about saving when I was young. I had this fun little coin machine where you could watch the money going down into the appropriate slot. I just loved to watch the coins pile up!



marylynnMy mom took my sister and me to the bank so we could open our own savings accounts. I just loved watching the money accumulate in that account! And to earn interest – I thought that was the greatest thing in the world!


Play money

If you have kids in grades K – 8, check out the money section of They have some fun games, virtual tours and all kinds of other ways to help your kids understand money better. We wish they would have had it when we were kids!


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Clever consumers


marylynnWhen I was a teenager, I had my own job so I had my own money. The popular jeans at that time were Guess jeans. All the cool kids had them and I wanted a pair. My mom wasn’t too thrilled that I was buying designer jeans. They cost a lot more than the regular old jeans. I did buy one pair but Mom’s reaction made me think twice the next time.



georgeI can remember the day when I learned the difference between real money and play money. I was in the fourth grade. My teacher was one of the best teachers I ever had. He was always talking about the Guinness Book of World Records. I was with my Mom … shopping. She told me that, if I was good, I could pick out a toy. I found this air-powered toy gun. When we got up to the check-out counter, I noticed they had the Guinness Book of World Records on sale. I wanted it too! Mom said I couldn’t have both; I had to choose. It was a hard decision, but I finally chose the book. I never regretted it!


We both benefited from our parents forcing us into making spending choices early in life. With the right coaching, kids can learn to be clever consumers and smart savers. It’s one of the best gifts any child could ever receive.

What did your parents do to teach you about money? Or what have you done with your kids to teach them? Share that with us by leaving a comment below, calling us at 877.988.BIGG(2444) or e-mailing us at

Thanks for reading our post today.

Please join us next time when we’ll look at quirks that cost us time. Until then, here’s to your bigg success!


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Two Billionaire Investors Give Their Two Cents Worth

By Bigg Success Staff

Bigg Success with Money


Warren Buffett, the richest man in the world according to Forbes, may well be the greatest investor of all time. Not surprisingly, he recently made a sizeable investment in Goldman Sachs, one of the firms who had been battered by the recent crisis on Wall Street.

Typical Buffett move.

It goes along with his strategy “to be fearful when others are greedy and to be greedy when others are fearful.”

So what does Buffett know? Why is he willing to invest now in the midst of all this financial turmoil?

Benjamin Graham, Warren Buffett’s college professor and mentor said, “An investor’s worst enemy is not the stock market, but oneself.”

Profiting from pessimism

A great book by Robert Hagstrom, Jr. called The Warren Buffett Way: Investment Strategies of the World’s Greatest Investor, quotes Buffett:

“The most common cause of low prices is pessimism – sometimes pervasive, sometimes specific to a company or an industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces. It’s optimism that is the enemy of the rational buyer.”

However, many investors do the opposite. They buy when everyone is buying, which drives prices higher. They sell when everyone is selling, driving prices down.

Think of it this way – if all the restaurants in your community suddenly cut their prices by twenty percent, would you eat out more?

Of course you would!

This billionaire’s stocks returned 9,900 percent

Another man who understood business and stock market cycles was the late J. Paul Getty, one of the world’s first billionaires and, at one time, the richest man in the world, according to the Guinness Book of World Records.

In his book, How To Be Rich, he says, “I began buying stocks at the depths of the Depression. Prices were at their lowest, and there weren’t many stock buyers around. Most people with money to invest were unable to see the forest of potential profit for the multitudinous trees of their largely baseless fears. I had confidence in the future of the American economy and realized that shares of many entirely sound companies with fine potentials were selling at only a fraction of their true worth.”

He goes on to say that he made over 100 times his investment on many of these stocks, bought during the depths of the Great Depression!

The best time to buy stocks

He continues, “Common stocks should be purchased when their prices are low, not after they have risen to high levels during an upward bull-market spiral. Buy when everyone is selling and hold on until everyone else is buying – this is more than just a catch slogan. It is the very essence of successful investment.”

How did he have so much confidence that prices would go up?

Because as he explains, “History shows that the overall trend of stock prices – like the overall trend of living costs, wages and almost everything else – is up. Naturally there have been and always will be dips, slumps, recessions and even depressions, but these are invariably followed by recoveries which carry most stock prices to new highs. Assuming that a stock and the company behind it are sound, an investor can hardly lose if he buys shares at the bottom and holds them until the inevitable upward cycle gets under way.”

The worst time to sell

J. Paul Getty fully understood the turbulence we faced. While every stock market crash or bear market has its own unique features, they also have a lot in common.

Getty said, “The anatomy of a stock market boom-and-bust … is not too difficult to analyze. The seeds of any bust are inherent in any boom that outstrips the pace of whatever solid factors gave it its impetus in the first place.”

Getty offered advice to weather the storms. He said, “Another valuable investment secret is that the owners of sound securities should never panic and unload their holdings when prices skid. Countless individuals have panicked during slumps, selling out when their stocks fell a few points, only to find that before long the prices were once more rising.”

Think about the advice from these two great investors when you’re thinking of buying … or selling.

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Review: How to be Rich

By Bigg Success Staff

Bigg Book Review


How to be Rich, by J. Paul Getty, is a fantastic book that should be a staple in every success library, especially if you’re an entrepreneur, and even more if you’re aspiring to own your own business.

J. Paul Getty was a billionaire when it was rare to see a “b” rather than an “m” at the beginning of that word. In his day, he was the “richest person in the world” according to the Guinness Book of World Records.

How to be Rich is Getty’s personal story, written by the man himself, about how he earned his fortune. We highly recommend this unique book by and about a unique man who shares his story, including some of the mistakes he made along the way.

Getty states that “rich” is a mindset, not a monetary figure. He believed that success came through perseverance, common sense, and hard work. He led by example – working alongside his oil-workers in the business that made him rich.

While most of the book is dedicated to succeeding in your own business, he also offers great advice on investing – in stocks, real estate, and even art.

Here’s the table of contents:

Part I – Becoming a Millionaire

  • How I Made My First Billion
  • You Can Make a Million Today
  • The Millionaire Mentality

Part II – How to Succeed in Business by Really Trying

  • What Makes an Executive?
  • The Force of Habit
  • Business Blunders and Booby Traps
  • The Psychology of Sound Personnel Management
  • Living with Labor
  • The Businessman at Bay
  • The Imp of the Impossible

Part III – The Value of Dissent, Culture and Nonconformity

  • The Vanishing Americans
  • The Educated Barbarians
  • The Homogenized Man

Part IV – The Art of Investment

  • The Wall Street Investor
  • A Real Approach to Real Estate
  • Fine Art: The Finest Investment

Part V – Of Money and Values

  • The Morals of Money
  • The Art of Individuality
  • A Sense of Values

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