Updated: Jun 21, 2022
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Hi I’m Mark Cuban and I’m about to give you some advice on how to be just a little bit richer than you are today. How do you get rich?
Rich is all relative. So there’s certain things you need to do in order to put yourself in the best position to be rich. The first thing you need to do is live like a student. When you get that first job that’s really cool I remember looking at cars and think I want this car, fortunately, I kept my junker.
You shouldn’t use credit cards I remember a bill collectors calling me over two minutes you’re better off using a debit card when you need that just not use cash number three is save up six months income if you don’t like your job at some point or you get fired or you have to move or something goes wrong you know you’re gonna need at least six months income then what I would do is probably put it into the cheapest SPX standard poor’s mutual fund that I could find
If you’re a TRUE adventurer and you really want to throw the Hail Mary you might take 10% put it in Bitcoin or Ethereum but if you do that you’ve got to pretend you’ve already lost your money and it’s like collecting art it’s like collecting baseball cards it’s like collecting shoes you know something’s worth what somebody else will pay for it it’s a flier but I’ve limited to 10%
It’s so hard to make a return on regular investments that you’re better off when you see a sale so for instance if we are hopefully we’re a hole using toothpaste every day right a couple of times a day and we’re going to go through a tooth toothpaste every month whatever it may be 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 reusables consumables that you have to have when they’re on a huge sale on Amazon buy em because chances are their prices are going to go up but that’s a real savings that you get to put in your pocket.
Negotiate it using cash I tell people all the time if you’re out you’re gonna take a yoga class and they want to charge you $30 and say look I got $20 you know what they’re gonna take it. Negotiating with cash is a far better way to get a return on your
I used to love to walk through bookstores when there were bookstores everywhere and if there’s something that caught my eye and I thought he can give me one idea to spend $30 to give one idea that could help propel me 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 it all it takes is one little thing to propel you to the next level.
Nice works! When you’re nice to people around you when you’re caring when you’re empathetic you’re always going to get more results running a company is not easy it’s hard but the one thing that you can control in life is your effort work hard.