GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you might read more about oureditorial guidelinesand our products and servicesreview methodology.
Here areMark Cubans most impactful wealth-building tips, straight from the source.
Save Aggressively and Build Cash Reserves
secure your money.
Save as much money as you possibly can.
Every penny you could, Cuban wrote on hisBlog Maverickwebsite.
Instead of going to McDonalds, eat mac and cheese.
This might sound extreme, but Cuban believes that developing disciplined spending habits is foundational to building wealth.
If youre looking for a place to begin your journey to wealth, this is your first stop.
Eliminate Credit Card Debt
Cuban wants you to cut up your credit cards.
In fact, he said that if you use a credit card, you dont want to be rich.
Cuban strongly recommends using debit cards instead if you need an alternative to cash.
The billionaire investor is all about taking advantage of a good deal when he sees one.
As he said, thats an immediate return on your money.
Rather than paying for formal education, Cuban recommends getting paid to learn.
In essence, he wants you to get paid to learn.
Negotiate With Cash
Cuban shared a practical tip on how to save money: Negotiate using cash.
You know what, theyre gonna take it, he said.
He adds negotiating with cash will offer a better way to get a return on your investment.
When youre out of dollars, youre done.
Second, having cash reserves is important here.
During economic downturns or industry disruptions, asset prices often fall significantly.
Those with available cash can acquire valuable assets at discounted prices while others are forced to sell.
And finally, be patient.
More From GOBankingRates
Share This Article:
