Being broke doesn’t mean you can’t make smart money moves.
The billionaire entrepreneur and Shark Tank investor is known for his blunt, no-fluff advice and surprisingly, much of it applies to people living paycheck to paycheck. Cuban didn’t grow up wealthy and he’s always emphasized simple strategies that anyone can follow, no matter their income. Below are seven of his most practical money tips, with advice that works even if you’re starting from zero.
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Live Like You’re Still Broke
When you first start earning money, Cuban advises resisting the temptation to immediately upgrade your lifestyle. “The first thing you need to do is live like a student. When you get that first job, it’s really cool. I remember looking at cars and thinking, I want this car, fortunately, I kept my junker,” Cuban told Vanity Fair. If you’re already on a tight budget, staying frugal is even more crucial. Keeping expenses low and avoiding lifestyle inflation will allow you to save money or pay down debt more quickly.
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Avoid Credit Cards
Credit cards can easily lead you into debt if you’re not careful, especially when money is tight. “Credit cards are the worst investment, unless you pay them off every 30 days. Even then, don’t do it,” Cuban explained to Entrepreneur. For low-income earners, the high interest rates on credit cards can trap you in a cycle of debt that’s difficult to break. Sticking to cash or debit helps you maintain control of your finances.
Buy in Bulk When You Can
Buying non-perishable items in bulk is a practical way to save money, particularly during uncertain economic times. “It’s not a bad idea to go to the local Walmart or big box retailer and buy lots of consumables now,” Cuban said on Bluesky. “From toothpaste to soap, anything you can find storage space for, buy before they have to replenish inventory. Even if it’s made in the USA, they will jack up the price and blame it on tariffs.” Stocking up when prices are stable helps shield you from inflation, saving you money long-term — especially valuable when every dollar counts.
Pay in Cash and Negotiate
Paying with cash gives you negotiating leverage and can help limit overspending. In Vanity Fair, Cuban highlights how effective this strategy can be: “Negotiate using cash. I tell people all the time, if you’re out, you’re going to take a yoga class and they want to charge you $30, say, ‘Look, I got $20.’ You know what? They’re going to take it.” Whether for a haircut, class or secondhand furniture, offering cash can often secure you a better deal.
Go To a Cheap School
If you’re worried about student loan debt, Cuban suggests to “go to a cheap school” over a prestigious one. In an interview on the Fishbowl podcast, he explained that college isn’t initially about your major; rather, it’s “about learning how to learn and exposing yourself to all kinds of different people [and] ideas.” For low-income earners, this advice is crucial because attending an inexpensive school, like a community college or a state university, drastically reduces financial pressure. Cuban himself attended Indiana University primarily because it was the least expensive among the top-ranked business schools, proving that prestige isn’t necessary for success.
Pay Off Debt Before Investing
Before diving into stocks or real estate, Cuban says your first financial priority should be paying down high-interest debt. “The best investment you can make is paying off your credit cards, paying off whatever debt you have,” Cuban explained to MarketWatch. “If you have a student loan with a 7% interest rate, if you pay off that loan, you’re making 7%, that’s your immediate return, which is a lot safer than picking a stock or trying to pick real estate or whatever it may be.” For low-income earners, tackling credit card balances with 20% interest is like locking in a 20% return — better than what most investments can offer.
Save for Emergencies First
Instead of thinking only about retirement, Cuban urges people to focus on building an emergency fund. “You aren’t saving for retirement. You are saving for the moment you need cash,” Cuban said to Moneywise. Having a small cushion — even if it’s just $5 or $10 a week — can make all the difference when unexpected expenses come up. It helps you avoid turning to high-interest credit cards or payday loans when life throws you a curveball.
Overall, you don’t need to be rich to make smart money moves. Mark Cuban’s advice is all about keeping it simple: spend less than you earn, avoid bad debt and look for small ways to save consistently. These habits won’t make you a millionaire overnight, but they can help you stay afloat and build real financial security over time.
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Sources
- Entrepreneur, “5 Mistakes to Avoid When Seeking Startup Capital.”
- Mark Cuban, Bluesky.
- Vanity Fair, “Mark Cuban’s Guide to Getting Rich.”
- MarketWatch, “Mark Cuban on the best investment and the one he ‘hates with extreme prejudice.'”
- Moneywise, “‘A get rich path’: Billionaire Mark Cuban says if you really want to be rich, do these two things now — but here’s where his advice falls short.”
This article originally appeared on GOBankingRates.com: 7 Mark Cuban Money Tips All Low-Income Earners Should Follow
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