Money Mastery: Mark Cuban’s Essential Guide to Financial Freedom
is unpredictable, so it’s essential to create a safety net if the unexpected were to happen.
Mark Cuban is one of the most well-known American businessmen of the past 20 years. He’s one of the stars of “Shark Tank,” owns the Dallas Mavericks, and has his hands in various other profitable ventures. Cuban is not shy about sharing the secrets to his success. Here you’ll find nine of his most valuable pieces of financial advice. 1. LIVE LIKE A STUDENT: When you were a student, you probably wanted to buy many things but couldn’t afford them. Now that you’re an adult with money to spend, don’t waste it on things you don’t really need.
4. PUT SAVINGS INTO AN SPX MUTUAL FUND: You want to keep your money where it will grow on its own. Investing in the S&P 500 will keep your money safe while bringing in additional interest. 5. INVEST UP TO 10% OF YOUR SAVINGS IN HIGH-RISK INVESTMENTS: Investing up to 10% of your savings in cryptocurrency or other high-risk ventures is okay. Do not expect a return on this investment, though. It’s better to assume it’s already gone than to expect you’ll strike it big. 6. BUY CONSUMABLES IN BULK AND ON SALE: You are going to use products like toothpaste, toilet paper, soap, and others daily. Buy as much as you can whenever these items go on sale so you don’t need to buy them at full price in the future. 7. NEGOTIATE USING CASH: Most people don’t mind selling their products or services for less if they know they’ll get cash immediately. 8. READ BOOKS: There’s always something new to learn that can help you become more profitable or financially aware. Read books that will inspire you. 9. BEING NICE EARNS A GOOD RESPONSE: People respond better to kindness than anything else. Be friendly to those around you, and you’ll be rewarded.
2. YOU SHOULDN’T USE CREDIT CARDS: Credit cards can be dangerous, as the ill use of one can quickly send you into debt.
3. SAVE SIX MONTHS’ WORTH OF INCOME: How long could you live off your savings if you lost your job today? The future
THE JOY OF SHARING
“That poor old couple. All they can afford is one meal for the two of them.”
food off the tray. There was one hamburger, one order of french fries, and one drink.
The little old couple walked slowly into McDonald’s that cold winter evening.
As the man began to eat his french fries, one young man stood and came over to the old couple’s table. He politely offered to buy another meal for the old couple to eat. The old man replied that they were just fine. They were used to sharing everything. Then the crowd noticed that the little old lady hadn’t eaten a bite. She just sat there watching her husband eat and, occasionally, taking turns sipping the drink. Again, the young man came over and begged them to let
The little old man unwrapped the plain hamburger and carefully cut it in half. He placed one half in front of his wife. Then he carefully counted out the french fries, divided them into two piles, and neatly placed one pile in front of his wife. He took a sip of the drink; his wife took a sip and then set the cup down between them. As the man began to eat his few bites of hamburger, the crowd began to get restless. Again, you could tell what they were thinking.
They looked out of place among the young families and young couples eating there that night. Some of the customers looked admiringly at them. You could tell what the admirers were thinking: “Look, there is a couple that has been through a lot together, probably for 60 years or more!” The little old man walked right up to the cash register, placed his order with no hesitation, and then paid for their meal. The couple took a table near the back wall and started taking
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