Money advice from a Shark Tank judge is money advice everyone needs to listen to. All of the judges blazed their own path to entrepreneurial royalty, and staying lean in the beginning was a strategy all of them most likely executed.
Billionaire entrepreneur Mark Cuban is famously blunt. So, when Inc.asked him in a 2017 interview to share his best money advice, the star of ABC's "Shark Tank" and the owner of the Dallas Mavericks didn't mince words. "From my dad," he said. "Don't use credit cards." The one thing he wishes he had known about money in his 20s, he told Business Insider in 2014, is "that credit cards are the worst investment that you can make. That the money I save on interest by not having debt is better than any return I could possibly get by investing that money in the stock market. "I thought I would be a stock market genius. Until I wasn't. I should have paid off my cards every 30 days."
The advice she wished someone had told her in her 20s, she said: Spend even a single week where you only use cash, charging nothing to a credit card. "When you put it on a credit card, somehow in that moment it seems like great value, but when you're putting cash out — you have limited cash, what you've earned that week — you're surprised at how quickly you realize how much money you're truly wasting," she explained.
On "Shark Tank," O'Leary offered this sound advice: "Never let them see you sweat — and never pay with credit." The first part of the quote is excellent advice for contestants on "Shark Tank." The second half is advice to take home.
Herjavec says his best financial advice for peopleis to avoid taking on too much risk or debt by following the middle path. He encourages people in their 20's them to consider state school as an alternative. A state school is as good as a private school," Herjavec tells Business Insider. Plus, Herjavec says, it can save young people boatloads of money. Herjavec attended the University of Toronto, a public research university, where he majored in English literature. He worked as a newspaper deliveryman and waiter in his youth and was able to pay his waythrough school. He graduated in 1984 with zero debt.
Five days a week, I read my goals before I go to sleep and when I wake up. There are 10 goals around health, family and business with expiration dates, and I update them every six months. I believe the last thing I read at night will likely manifest when I'm sleeping. You become what you think about the most.
Monthly cable and utility bills creeping up? Call and ask if anything can be done to lower them. Surgeon bills $10,000? Offer $7,000 with immediate payment. Have a valuable skill of your own? Suggest an exchange of services. "My attitude about negotiation is, don't be afraid," says Greiner. "Always try. Even if you get nothing, it doesn't hurt."