Mark Cuban could be a billionaire now but, before he became a successful entrepreneur, Cuban needed to pinch pennies.
While in his 20s, shortly after moving to Dallas with only $60 in his pocket, Cuban tried every money-saving hack he could consider to stretch what little money he had, he told Bill Maher on a recent episode of the “Club Random Podcast.”
Certainly one of Cuban’s strategies: Going to supermarkets in the course of the night to attain deals on food.
“I used to go to the food market at midnight because they lowered the worth of chicken and these big [bags of] French fries to $1.29,” he said on the podcast. “And I might buy a bunch of them.”
Some markets still offer discounts for late-night shoppers, in keeping with a 2021 Instacart report. Within the evenings, they could mark down perishable items that will not last until the following day, like fresh produce, meat and baked goods.
More commonly, major grocers offer deals on specific days of the week. Several grocery stores begin weekly specials on Wednesdays, in keeping with the Instacart report. That is likely since the bulk of their customers shop on the weekend, analyst and founding father of Supermarket Guru Phil Lempert told TODAY in 2018.
Cuban, who lived in a three-bedroom apartment with six roommates on the time, didn’t just search for deals on food, though. He told Maher that while he needed to get to and from his bartending gig and make it to job interviews, he couldn’t afford a automotive.
Cuban had “bank cards cut up” and “bill collectors” on his trail, he told Maher. But at some point, he was along with his friends when he saw an abandoned vehicle on the side of the road. They pulled over, and the automotive appeared to be in fine condition. Higher yet, it was unlocked and had a thick envelope stuffed with loan papers on the front seat.
“It wasn’t f—ed up,” Cuban explained. “I knew from my very own personal experience someone abandoned it because they couldn’t make the payments.”
He took the papers and called the bank the following day. Cuban asked if he could take over the payments, and the bank agreed.
Other 20-somethings would not likely give you the chance to repeat his roadside strategy, he told Maher. In spite of everything, not everyone can depend on finding a working automotive left untouched on the side of the road. Plus, Cuban identified that it’s nearly unattainable nowadays to avoid an automated assistant once you call the bank.
Still, Cuban has said prior to now that his days of scraping by helped motivate him. “I had nothing. So I had nothing to lose, right? It was all about going for it,” Cuban told The Dallas Morning News in a 2011 interview.
That attitude led Cuban to take a shot at selling software, despite having been fired from multiple jobs. He then launched his own computer consulting business, MicroSolutions, which he sold for $6 million in 1990 on the age of 32.
Today, Cuban is grateful that his experiences in his 20s taught him to hunt creative ways to get monetary savings, and led him to enjoy his current wealth all of the more. Now that he doesn’t must worry about running out of cash, Cuban told Maher the very best a part of his success is the liberty it affords him to decide on what he eats and how much automotive he drives — not to say how he spends his days.
“Persons are like, ‘What’s the very best part about being wealthy?'” Cuban said on the podcast. “Freedom, right? [And] time. I get to regulate my time.”
Join now: Get smarter about your money and profession with our weekly newsletter
Millennial who saved $100,000 before she turned 26 says 3 suggestions could aid you do the identical
Mark Cuban says he doesn’t need his billions: I’d ‘of course’ be just as pleased with 1% of my net price