Many people dream of being a billionaire, thinking about what they’d buy and how they’d live. However, for Mark Cuban, the billionaire owner of the Dallas Mavericks and star of “Shark Tank,” having billions isn’t about having fancy clothes or a private driver.
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Mark Cuban values his privacy above all else, so you won’t see a ton of staff in his home or private drivers. Sure, he says flying privately saves him time, so he values that. But, he’s also known to buy toothpaste in bulk.
Here are a few things Cuban won’t waste money on, including several things he advises his followers to avoid at all costs.
Fancy Watches
When Mark Cuban sold his company for millions at the age of 29, he vowed never to wear a watch again, because he said his time was his own now, according to CNBC. So, you won’t spot Cuban wearing an expensive watch worth thousands of dollars. He has a more casual style, preferring T-shirts to suits.
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Overpriced Everyday Items
Cuban recommends buying items in bulk and stockpiling, per The Economic Times. He explains that getting an item for a reduced price is an instant cash return.
Chauffeurs and Butlers
Cuban greatly values his privacy. Although he could afford a chauffeur and a butler to manage his home and drive him from place to place, he says he prefers driving himself where he needs to go. He says that he likes having control over his routine.
Expensive Schools
Cuban recommends that students not take on excessive debt for college. He doesn’t think it’s wise for students to graduate with the burden of student loan debt. He attended Indiana University, which he chose because it was the most affordable of the top-ranked business schools in the country.
High-Interest Debt
Cuban is adamantly against high-interest debt like credit card debt. He, of course, doesn’t have any himself, but he has made it a point to encourage others to pay off credit cards as soon as possible.
Having credit card debt prevents people from investing and growing their wealth. Cuban has been a guest on the Dave Ramsey podcast, sharing this message, and has also mentioned it in several interviews.
Final Thoughts
Even though Mark Cuban is a billionaire, he still maintains many frugal habits he’s carried with him all his life. Though he does spend on private plane travel for its efficiency, he values his privacy above all else and doesn’t want a chauffeur or a budget.
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This article originally appeared on GOBankingRates.com: Mark Cuban: 5 Things He Won’t Waste Money On
