Mark Cuban Shares He Reached First $1 Million By Learning To 'Party Like A Rock Star, But Still Live Like A Student' – Jokes 'I'm Still A Slob'

Mark Cuban didn't stumble into wealth; he fought his way up with sheer determination and scrappiness. For him, it wasn't about flashy purchases or luxurious living but about being frugal and making smart financial decisions. Cuban credits his early days of living like a broke student as the foundation for his first $1 million. 

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In a Money.com interview with fellow Shark Tank star Sara Blakely from 2017, he explained his mindset: "I wanted enough money to be able to travel, have fun, and party like a rock star but still live like a student. That was my motivation." He had five roommates, drove around in beat-up cars, and lived off macaroni and cheese, all while staying laser-focused on saving and investing.

One of his biggest influences was the book Cashing in on the American dream: How to Retire at 35 by Paul Terhorst. The premise was simple: if you could save up $1 million and live like a student, you could retire young. Cuban took that to heart. He embraced a life of minimalism, driving a Fiat X1/9 with a hole in the floorboard and an old Buick LeSabre, which cost more than $200. "Big-time chick magnets," he jokes. But behind that humor was a disciplined mindset that helped him grow his wealth.

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The road wasn't without bumps. Cuban learned some hard lessons about credit card debt. "I can't tell you how many credit cards I had ripped up," he recalls, reflecting on times he overestimated his ability to pay them off. But over time, he realized the key was paying off credit cards at the end of every month. He knew that high-interest debt, with rates as high as 30%, would outpace any investment returns he could make. "Paying off your credit cards is the smartest investment you can make or not make," he emphasizes.

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Cuban's advice? Stay within your means and make smart choices with your money. He advocates for "maybe" investing in low-cost index funds – like the SPX fund – where fees are minimal and the potential for long-term growth is high. And while saving may feel impossible when you're earning $30,000 or $40,000 a year, he believes it's still possible to build wealth with discipline. "If we weren't scrappy, if we weren't resilient, we could have just quit. But we kept fighting, and it ended well for us," he explained. 

Cuban also discusses the importance of investing in yourself. When he and Sara Blakely were younger, they both spent money on motivational tapes, even though friends mocked them. But for Cuban, that mental investment paid off. 

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Even after making his millions, Cuban stayed grounded. "When I first made a lot of money, I bought a plane because the asset I value the most is time. Other than that, not much has changed. I've lived in the same house for 18 years, and I'm still a slob," he laughs. This down-to-earth attitude reminds us that wealth isn't about flaunting what you have – it's about making smart decisions to set yourself up for the future.

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