Mark Cuban Shares Smart Money Moves

A notable Shark Tank investor shares tips on saving and spending.



Mark Cuban

via Wikimedia Commons

Those who have tuned into an episode or two of ABC’s Shark Tank are likely familiar with Mark Cuban, the plain-spoken investor who also owns the Dallas Mavericks.

The billionaire businessman has built his success upon smart financial choices, and he recently shared with Business Insider three easy ways others can be more mindful of their own money.

His first piece of advice is to buy common necessities—such as shampoo, toothpaste and other non-perishable care items—in bulk. Spending the extra cash now can result in larger savings at year’s end.

Stashing away six months of income is also a good move, Cuban says. Though it may not appear like much, it provides peace of mind in the event of a sudden economic downturn.

The very best thing to do, according to Cuban, is to pay off debt fast (or better yet, avoid it altogether). Out of all the investments one can make, Cuban says credit cards are the worst. And hey, it’s quite difficult to question someone who's profited big from selective investing.

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(photo via Wikimedia Commons: https://www.flickr.com/photos/kk/50083704/)