4 Simple Money Habits From Mark Cuban That Could Transform Your Life

4 Simple Money Habits From Mark Cuban That Could Transform Your Life

Peter Burns  Sat, July 26, 2025   GOBankingRates

For those trying to build wealth, Mark Cuban is a perfect example of how to get it done. From living in a shabby apartment with roommates to currently having a net worth of $6 billion, Cuban has made smart money moves that paid off big.

While some of the moves he made to get to where he is were complex, he used a lot of simple strategies as well. Here are four of Cuban’s most helpful money habits that can help you improve your finances.

Don’t Use Credit Cards

When asked about credit cards, Cuban has repeatedly said, “If you use your credit cards, you do not want to be rich.” It’s a valid point, as credit cards have left many in crippling debt. In 2024, the average consumer debt from credit cards was $6,730 per person. Adding a high interest rate to that amount each month can quickly derail any attempts you’re making to build wealth.

Cuban said the best way to invest is to pay off your credit cards and then cut them up. Currently, the average credit card interest rate is around 20%. As Cuban explained, if you pay off your credit card, you’ve just earned that amount of interest back instead of continuing to pay it.

Live Below Your Means

Even after Cuban had made millions, he was careful with his money. When he was just coming into his wealth, he read a book called “How to Retire by the Age of 35,” which told him to live like a student and save as much as he could. He then called his broker and told him to invest his money as if he were a 60-year-old, despite his young age. Cuban said he was worried that he would lose that money and wanted to live off of it for a long time.

Living below your means involves spending less than you earn. This will keep you out of debt and let you put more money toward your savings and investments. You can live below your means through careful planning and intentional spending.

TO READ MORE:  https://www.yahoo.com/lifestyle/articles/4-simple-money-habits-mark-121814224.html