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Money Guy Show

Mark Cuban: “If You Use Credit Cards, You Don’t Want to Be Rich!” (Money Guy Reacts)

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Investing, Business

4.73.1K Ratings

🗓️ 30 November 2022

⏱️ 27 minutes

🧾️ Download transcript

Summary

Mark Cuban says you should only use credit cards if you do NOT want to be rich. While we are no fans of credit card debt, we believe credit cards can be very useful if used properly. In this Q&A, we’ll discuss what we agree with and what we disagree with when it comes to Mark Cuban and Dave Ramsey’s stance on credit cards. Check out our NEW course, Know Your Number! Watch more exclusive content only on YouTube! Visit our website - Get our FREE financial resources - Sign up for our Financial Order of Operations course - Get easy to understand answers to your financial questions Follow us on social media! -Instagram -Twitter -Facebook -TikTok Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

According to Mark Cuban, if you use credit cards, you don't want to be rich.

0:05.8

It's Brian Preston, the money guy, restoring order to your financial chaos, retirement,

0:12.8

investing, taxes.

0:14.8

You've got financial questions, he's got financial answers.

0:18.4

It's Brian Preston, the money guy.

0:21.6

Run I am excited to talk about this because Mark Cuban is a guy that I generally like.

0:27.2

He's been wildly successful as a business owner, as an entrepreneur, he's on shark tank.

0:32.2

Generally, when someone has had that kind of success, says something, I want to listen.

0:36.0

I want to learn from that.

0:37.0

I want to glean some of their insight.

0:38.9

But on this particular topic, I don't know that we are going to agree on.

0:43.0

Let's give our audience some context here.

0:45.6

There's actually a clip out there.

0:48.3

Let's let everybody see and then we'll go through the ins and outs of this.

0:51.7

No, I checked this out.

0:54.0

If you use your credit cards, you do not want to be rich.

0:56.7

Anytime you say something about that, people send it to me.

0:59.3

Look at Cuban tweets.

1:00.8

Look at what Cuban says.

1:01.8

That's the verse.

1:02.8

Cut up your credit cards.

1:03.8

If you use a credit card, you don't want to be rich.

...

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