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Wealth Hacks

Mark Cuban: Here’s How You Get Rich (In 9 Steps)

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Tech billionaire Mark Cuban is known for being the awesome owner of the NBA’s Dallas Mavericks. He’s also known for making deals on ABC’s hit series “Shark Tank.”

Ever the hustler, Cuban used to sell everything from baseball cards to trash bags. “My earliest memories are re-packaging baseball cards and selling them,” Cuban told a 17-year-old on”Shark Tank.”

In this interview with Vanity Fair, Cuban draws on these past experiences and breaks down exactly how you get rich in nine clear steps.

And even though Cuban’s worth a cool $3.3B, according to Forbes, the Mavs owner still routinely comes up with ideas for money-making schemes on his very active Twitter.

Amazon announced in December the company had sold “tens of millions” of devices over the holidays, powered by smart voice assistant, Alexa.

A month later, Google then announced it had sold “more than one Google Home device every second since Google Home Mini started shipping in October.”

It’s ideas like these that helped Cuban build his billion-dollar fortune from $60, the bulk of which came from building—then selling—two technology businesses.

His secret? Learning technology on his own time. At the time, Cuban was selling software at a Dallas store called Your Business Software.

“Every night I would take home a different software manual, and I would read them,” he writes on his blog. “Every night I would read some after getting home, no matter how late.”

Entrepreneurs

4 Types Of People To Be Around That Will Make The Hustle More Fun

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(Editor’s Note: The following article is a guest post by superstar entrepreneur and tech investor Jonathan Schultz.) 

We all know that hard work and dedication are keys to success. The more you’re willing to sacrifice and go the extra mile, the greater your chances are of reaching your personal goals and passions.

While there’s no denying that hard work does play a major role in reaching success, surrounding yourself with the right people will always help. We’ve all heard the saying, “it’s not what you know, but who you know” … In my career, whenever I push myself to be around the positive thinkers and go-getters, it’s always up-leveled me and gave me more confidence to in turn fulfill my own dreams and ambitions.

Finding your network through all the different stages of your life and career is not only helpful in progressing your career, but it also creates amazing relationships and opportunities.

So, what type of people should you be surrounding yourself with?

THE PUZZLE PIECES

Find the network that is your perfect complement —the people that have the skills and abilities you strive for. Not only will this give you more confidence, it will help you learn the skills and abilities you may be lacking.

THE POSITIVE PEOPLE

Who doesn’t want to be around someone who’s happy and optimistic? Even though that doesn’t have to be all the time.

Surrounding yourself with positive and grateful people can have an incredible impact on your life, making you feel happier and more confident. Also, positive people are more likely to encourage you to take smart risks or move up the business ladder.

THE INNOVATORS

Dreamers and innovators are the people pushing society forward. They are the people interested in coming up with new and improved ways to solve problems and achieve success. Regardless of what field they’re working in, it’s never a bad idea to have a few outside-the-box thinkers in your social circle to help you look at things from a different perspective.

THE ANSWER SEEKERS

Just like innovators, people who constantly ask questions are the reason why we challenge old ways and come up with new ideas. When you’re surrounded by people who constantly ask questions, you’re more likely to come across the answers that you never knew you needed.

Ultimately, the people you keep in your inner circle can influence you in a number of different ways, including how you approach problems or whether you’re motivated to achieve greater things or not. Of course, this isn’t to say that everyone around you needs to be someone who’s working those extra-long hours to get to the next phase in life.

However, when you have a few business-minded people in your life, you’re more likely to inherit some of their drive, benefit from their knowledge, and even network in some of the same circles. For that reason, it’s always important to make friends who have the same goals and aspirations as yourself. It might just help you get to the top quicker.

Jonathan Schultz is an entrepreneur, real estate tech investor and influencer. He’s the co-founder of Onyx Equities, a leading private equity real estate firm, and has been voted one of the most powerful people in real estate. Follow Jon’s blog here

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Personal Finance

5 Questions With Financial Expert Kara Stevens: Building The Right Money Mindset

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Believe it or not, becoming a millionaire doesn’t take much capital. It mainly a mindset shift as it pertains to money.

In order to unpack how to do just that, we spoke to financial expert, journalist and author Kara Stevens from TheFrugalFeminista.com.

In this Q&A, we discuss money management, the emotional aspect of money, and why you must heal your relationship with it first before you can learn to have more of it.

Let’s just talk about it out the gate. What’s the biggest money challenge you see in the people you work with?

I see so many things when it comes to money challenges—from fear of looking at bills to avoiding having important yet difficult conversations with their family members about money. I’d say the underlying challenge is an ambivalent relationship at best and a harmful relationship at worst with money.

We walk around usually unaware of our thoughts about money so our decisions are on autopilot and unexamined. This becomes a problem when you have goals of wealth but your actions and thoughts work in opposition to those goals.

You mentioned “financial dysfunction” and bad money habits being passed down from generation to generation. What are some that you see and how do you break them? (feel free to incorporate own experiences here)

Some of the habits that I see include living beyond one’s means and using credit cards and payday loans to subsidize lifestyles.

That’s a tricky one.

I also see the other side. People who hoard money in fear of being poor and who ironically keep their money in a low-yield savings account that will eventually erode its purchasing power.

Or inflation, which literally eats your money alive. So how do you break the money dysfunction?

Breaking free of money dysfunction begins with awareness. You have to acknowledge that you have a problem and commit to change. Even when there are setbacks.

I think the next step is seeking help whether through reading and educating yourself if you’re a self-starter or seeking support from a professional or a mentor that can guide you through your goals and offer feedback and accountability.

And finally, I think creating simple plans and goals that can be easily achieved and tracked helps you stay committed and motivated to improve your relationship with money.

You talk about “the link between self-worth and net worth.” What do you mean by that?

Usually when people hear that, they think I mean that more money makes you better or feel better. That’s not what I mean. When I say there’s a link between self-worth and net worth with respect to how we treat money. In other words, when you realize that you are enough, so you don’t have to overspend anymore or hoard money because you’ve reached a level of financial security.

Almost like being at peace with who you are financially?

Yes. How you manage your money—meaning what decisions you make around spending, saving, giving, and investing. This message is specifically those of us with money management issues and not income issues. Money management is for those of us that have enough to meet our needs, but our spending decisions keep us from making progress in our finances.

In other words, building wealth.

Right. Income issues and issues around generating wealth stem from structural inequalities. For instance, gender-based pay gap, race-based pay gap, predatory lending and so on. There is definitely an overlap when the discussion is that they don’t have enough income to manage.

Your book is called Heal Your Relationship With Money. What is it that people need to heal and why 28 days?

I think people mostly need to heal their past financial trauma from childhood, across the board. Whether you lived in poverty or privilege, there may have been beliefs passed down to you that make it hard for you to overcome financial self-sabotage.

This comes in so many forms from buying the cheapest foods because you don’t want to spend the extra money, to believing that the opposite sex is your best financial plan.

Healing can happen in a short period of time—like 28 days—when there are actionable steps and accountability. The book offers the space to engage in deep metacognition—meaning thinking about your thinking—while simultaneously offering bite-sized and tangible action steps.

What’s the biggest piece of money advice you can give someone who’s starting from scratch and doesn’t know where to go?

I think the first place to begin is to take inventory of your money mindset. Assess and examine your thoughts and subsequent decisions that stem from that train of thinking.
In doing so, you’ll be able to cultivate financial self-awareness which you’ll need to replace those thoughts and actions with ones that align with your financial goals.

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Wealth Hacks

TAX HACKS: How Real Estate Billionaires Avoid Paying Taxes

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