Mark Cuban: The best advice I never got

Billionaire entrepreneur Mark Cuban recently attended our own Ignition 2014 event in New York. After his stage chat he sat down with Business Insider Video to talk about strategy, success, and more. We asked Cuban, if it were possible to travel back in time, what advice would you give your 20-year-old self? -------------------------------------------------- Follow BI Video on Twitter: http://bit.ly/1oS68Zs Follow BI Video On Facebook: http://on.fb.me/1bkB8qg Read more: http://www.businessinsider.com/ -------------------------------------------------- Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the big world around you. The BI Video team focuses on technology, strategy and science with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation.

Comments

1. The real advice is dont drown in debt; dont owe anyone money.
2. Think big. Be the CEO. Get big money. Start your startup today. https://about.me/buydomains
3. how am i supposed to grow my credit then?
4. Says the guy with unlimited money. The average joe needs that line of credit in case his car breaks down or similar situation
5. I thought you needed to use credit cards to build up credit so you can buy a house, car, etc.
6. As my mom always said to me. "If you can't afford it, it's best to do without it".
7. Yeah I just need a billion dollars then I would pay cash for everything too.
8. problem is that you need credit these days or you won't be able to get things you need. things like rent or loans you need a credit score.
9. I would amend his advice for an average consumer that you should have 1 credit card and one that is a cash back card with at minimum 1.5% cash back, with NO annual fee.
   
   For most people you need some positive credit history to get a mortgage and/or credit for student loans.
   
   
   I think what he's really talking about are those people who feel rich because they have a lot of credit and then go hog wild spending themselves into debt.
   
   If you're the latter type of person, Mark Cuban's original advice stands.
   
   
   Discipline is the key here when it comes to credit.
10. personal what I do is whenever I buy something with my credit card let's say 120 dollars for shoes, I get 120 dollars and I set it aside pretending I don't have that 120 and then at the end of the month give them the whole 120. And that's how I build my credit score
11. But isn't a credit card a good thing to have if you use it responsibly? I always have the money, so I never pay any interest and I make my payments on time. It's nice to have a credit card for online purchases, and just to build up your credit rating if you ever need to spend a lot at once.
12. Fantastic👌I wish I would have Hurd his advice before I started my company🤣good advice👍🏻if u use credit, pay it up each month like American Express🤔no debt👍🏻another thing he talks about in another vid, is u want to watch out for websites. It's costly, so therefore, do u really need one now, and know the difference between DIRECT marketing n INDIRECT😃☝🏽I wish I also would have known about that. Good advice 😀😍🐶😻🐾🌺💖
13. 00:00
14. Did he mean don't use credit cards for business or don't use credit cards for business AND life in general?
15. But I heard someone say it's better to use debt to finance whatever you are doing than using your saved up money.... so many conflicting stuff, no wonder people are confused.
16. your all saying this is bull but look at the wealth of this man and then look at your wealth and yes the banking system always take a certain percentage of anything you earn so he had a point here
17. Credit cards are toys in the banking monopoly. And we are pawns. I avoid banks all together.
18. As a recently graduated college student i can TESTIFY to you why Mark's statement is very misleading. Whether or not Credit cards are good/bad for you is TRULY dependent on your OWN spending habits, and self control. I only use my credit card when I'm at the gas station, and NOTHING ELSE to train myself to only use it for the essentials. I immediately pay off the bill within two days to avoid paying the 18% interest that he talks about.
    THIS WAS MY PERSONAL RESULT FROM STARTING THIS 3 MONTHS AGO
    -Credit score went from 626 (average) to 728 (good)
    -Received 2% cash back on all my purchases (spent $475 on gas, $9.50 cash back)
    -Increased understanding of credit cards, and more self control gained
    DON'T LET THE CREDIT CARD OWN YOU.
    
    Having a credit card doesn't mean that you only use it to buy things you can't afford, but rather it is a tool that anyone can take advantage of to increase personal savings and develop self-control with your finances. Own the card, don't let it own you :)
19. This is bogus. You can own a credit card, just don't be late with payment and you won't pay the 19% interest. Credit cards is how you build good credit. So you can get a mortgage or lines of credit when you need it. Easy for a billionaire to say don't use a credit card, right after he said he had 6 of them. Good luck getting a mortgage with zero credit.
20. Mark Cuban is fugly! I wish he would keep his big fat mouth shut as aside from business, he does not know shit from Shinola.