Billionaire Mark Cuban Offers Practical Financial Advice
Mark Cuban isn't just the owner of the Dallas Mavericks, but he's also a billionaire who in a recent interview shared advice on three smart financial moves that anyone and everyone can make. You and I may never end up being billionaires like Cuban, but it definitely can't hurt to give his advice a try so that we can enjoy a little bit of financial freedom.
This is so, so hard. There was a time in my life when I did this, but then I had a baby, and well, you know. But, I'm trying to get myself back to this place. Cuban says that knowing you have money saved for a rainy day give a little peace of mind and actually helps you make smarter money decisions each day. I absolutely believe this.
Cuban says the single best thing you can do when it comes to your finances is to pay off all of your credit card debt. Once you're credit debt free, only buy what you can afford to pay cash for. And if you don't have a credit card, keep it that way. As Cuban says, debt is the ultimate “dream killer.”
According to Cuban, you should sit down and do a budget, making sure to look at the things you find yourself buying all the time and then buying those things in bulk. What's more, Cuban suggested that someone go so far as to buy a year’s worth or even two years’ worth, and getting it at a 50% discount.