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SOUND FINANCIAL ADVICE TO ALL 20-SOMETHING YEAR OLD’S FROM BILLIONAIRE MARK CUBAN

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Mark Cuban can be rightly referred to as an American investor who is a Billionaire. He owns several businesses in America, the most notable ones being a basketball team, Dallas Mavericks and Magnolia Pictures. Mark Cuban’s life today is characterized by loads of luxury and glamour but his life when he was in his 20s was very different. It was the opposite of what he is today.

Early Life
After clearing his university education, Cuban moved to Dallas in the year 1981 where he used to share his apartment with some roommates. He used to bartend at night in order to get some money to sustain himself. Over the few years that he spent there, he led a very cheap life which spared most of his earnings well. He used to invest this earnings into building his first ever business, Micro Solutions. This company was involved in the distribution of software. It took him the whole decade that followed building his business and later on he sold it off for $6 million to the H&R Block. This sale started off his illustrious and successful career as a mega-investor.

Advice
Mark Cuban seeks to inspire many people especially those in their 20’s on how to be successful in their businesses. He has authored a book titled, How to Win at the Sport of Business, in which he lays out his advises to people in their 20’s to live as cheaply as they possibly can. He goes on to advise them to take advantage of this time to pay off their student debts that they accumulated while undertaking their university education. At the same time they should also save the money they get for their future investments.

He opines that at this stage, the place where one opts to stay should not matter at all. The same ought to apply to the kind of life one opts to lead at this stage in life when they are in their 20’s. The type of car that one drives during these years should also not matter at all as it is a non-issue at this stage. The type of clothes one can afford to wear at this point in life should also not matter so much as one has many more years to live on earth and they will have the time to wear the best clothes money can get. All these factors should not matter anything at all as these 20’s years are the best years one has to save diligently for their future life.

He reasons that in the future life, a person will require having huge money sums that will enable them to make smart investment moves and opening up of several businesses. It is also at this stage of life that the house you buy to live in with your family as well as the car you will be driving will matter. The huge sums of money you saved in your 20’s to start your investments will play a huge part at this stage as you will be able to afford buying the best house and car that money can get you. Mark Cuban writes that it is important for the 20-somethings to understand that the cheaper the lifestyle they choose to live in their 20’s, the greater the options they will have in future.

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