With a current net worth of over $3 billion, it’s safe to say you should take any advice Mark Cuban gives and do exactly what he recommends. Cuban recently shared his 9 tips to getting rich with Vanity Fair.
“When you get that first job that’s really cool, I remember looking at cars and thinking I want this car. Fortunately, I kept my junker.”
“You shouldn’t use credit cards. I remember bill collectors every two minutes, you’re better off using a debit card when you need to just not use cash.”
“If you don’t like your job at some point or you get fired or you have to move or something goes wrong. You’re going to need at least six months income.”
“Take those savings and put it into the cheapest SPX I could find.”
“If you’re a true adventurer, you might take 10% and put it in bitcoin or Ethereum but if you do that you’ve got to pretend you’ve already lost your money. It’s like collecting art or baseball cards, something worth what somebody else will pay for it.”
“It’s so hard to make a return on regular investments that you’re better off when you see a sale. For instance, hopefully, we’re all using toothpaste every day. You’re better off buying two years worth of toothpaste when it’s on 50% discount, that’s an immediate return on your money. Any of your reusable or consumables you have to have are on sale on Amazon, buy them because chances are their prices are going to go up but that’s a real savings you get to put in your pocket.”
“Say you’re out and you want to take a yoga class and they want to charge you $30 say I have $20, you know what they’re going to take it. Negotiating with cash is a far better to get a return on your investment.”
“I used to love walking through bookstores when there were bookstores and if there was something that caught my eye and I thought it could give me one idea. To spend $30 to get one idea that could help propel me and make my businesses better, it was a bargain. The only investment guide you’ll ever need by Andrew Tobias used to get me all fired up. I’ll read hours every day because all it takes is one little thing to propel you to the next level.”
“When you’re nice to people around you’re always going to get more results. Running a company is not easy, it’s hard but the one thing you can control in life is your effort. Work hard.”
h/t: Vanity Fair
