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- Mark Cuban is a TV personality, and has appeared in a show “Shark Tank,” with a net worth of around $4.7 Billion.
- Mark Cuban sold his business back in 1990 for $1 Million to CompuServe, and earned $5.9 Billion nine years later after he sold his audio streaming facility to Yahoo.
- Usually, it is said that we must neither share our secret to success, but Mark Cuban believes in the “sharing is caring” concept.
Here are some pieces of Advice Mark Cuban suggests when it comes to money matters.
Refinance Debts During Lower Rates Of Interest
Recession is among the time periods that no one wants to enter. But Mark Cuban thinks that it too contains something beneficial, lower rates of interest. He thinks these are the perks folks can acquire through this monetary havoc.
Stay Away From Debts
Mark Cuban does not like any kind of debt on his sheet, and says that folks should stay away from banking institutions if they are initiating a new business.
Keep Your Money Private
With respect to money, “sharing is caring” concept is a big no for Mark Cuban. He advised the potential lottery winners that, do not lend your money, no matter how you’ve earned it, easy or hard way.
Negotiate Utilizing Cash
Mark Cuban has always admired cash, and stated during the Vanity fair that availability of cash is a life savior.
He gave an example that when you go for a subscription of Yoga Class costing $30, but you say you only have $20, they are gonna give you the subscription for $20 most probably.
Don’t Let Credit Card Debt Go Over 30 Days, Or Just Avoid Them
Credit cards are a savior for many during the hard times, when they are going through routine financial trouble. But Mark Cuban thinks that the debt should be cleared in 30 days, or folks must not, at all, utilize a credit card.
Smart Shopping
Mark Cuban explained transitional returns created by cash in one of his blogs regarding investment advice. He stated that it is better to shop in bulk, instead of acquiring products every now and then. You’ll get a better discount on bulk.
Become A Risk Taker
No Billionaire or Millionaire in this world has got whatever he has now, without risk. Risk and reward go hand in hand.
Mark Cuban thinks that the secret behind such financial success is “Taking the Risk,” and investors with a higher purpose are fearless in making investments in the market, but with specific goals in mind.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
