BLOG ENTRY 10: HOW TO GET RICH— THROUGH THE EYES OF A BILLIONAIRE
The “how to get rich” guide has been one of the most redundant articles when financial well-being is concerned; I’m quite sure that everyone has come across the different advices and strategies being offered by seemingly reliable resource persons. More often than not though, these tips tend to have disappointing results. Why? Because these money-related assistances are commonly just good in theory, and not true-and-tested in the real world.
I recently read an article by Mark Cuban about the topic I just mentioned and I was amazed at how simple his advice were. For him, there were just two important tips needed to be remembered: what NOT to do, and what SHOULD be done.
Fisrt off, what not to do. Don’t look for shortcuts.
With all of the volatility in the stock and financial markets these days, there will definitely be scams popping up left and right. These scammers will target someone with less money, taking advantage of his/her desperation. The best thing to do, according to Mr. Cuban, is not to be enticed by the empty promises offered. The thing to always remember is that if the person selling the deal was so smart, they would be rich beyond rich. As said, there are no shortcuts.
Second, the thing that should be done.
Save money. Yes, Cuban’s tip is this simple! Save as much money as you possibly can. Every penny you can. Instead of sipping coffee at Starbucks, drink water. Instead of going to McDonalds, eat Mac and Cheese. Cut up all your credit cards. If you use a credit card, you dont want to be rich. The first step to getting rich is discipline. That’s how you become financially stable.
Truly an amazingly loaded article from a multi-billionaire. You can read his other commentaries here, if you are interested: http://blogmaverick.com