Mark Cuban Talks Money: Advice on Building Wealth
Mark Cuban knows money. A successful entrepreneur and investor, Cuban is a self-made billionaire with a net worth of $3.7 billion, according to Forbes.
He’s the owner of the Dallas Mavericks, co-owner of 2929 Entertainment and chairman of AXS TV. And to aspiring entrepreneurs everywhere, he is the incredibly popular shark investor on Shark Tank.
Mark Cuban often shares his financial wisdom, so if you want to get inspired, check out this advice from one of the top, most successful entrepreneurs in the world.
1. “Your biggest enemies are your bills. The more you owe, the more you stress. The more you stress over bills, the more difficult it is to focus on your goals. More importantly, if you set your monthly income requirements too high, you eliminate a significant number of opportunities. The cheaper you can live, the greater your options. Remember that.” – Blog Maverick
2. “So what should you do to get rich? Save your money. Save as much money as you possibly can. Every penny you can. Instead of coffee, drink water.” – Blog Maverick
3. “I look at my annual budgets for everything and anything, and I look to see where I can save the most money on those items. Saving 30% to 50% buying in bulk – replenishable items from toothpaste to soup, or whatever I use a lot of – is the best-guaranteed return on investment you can get anywhere.” – Mark Cuban to Forbes.
4. “If you’ve got $25,000, $50,000, $100,000, you’re better off paying off any debt you have because that’s a guaranteed return.” – Mark Cuban to ThePitcher.org
5. “The first step to getting rich is having cash available. You aren’t saving for retirement. You are saving for the moment you need cash. Buy and hold is a sucker’s game for you.” – Blog Maverick
Want more great financial advice from top business leaders? Stay tuned; the Sharks are here to help steer the ship to financial success.