Money

Mark Cuban’s No. 1 money-saving tip for kids

Mark Cuban
Photo by Eric McCandless
Mark Cuban

Mark Cuban is worth more than $3 billion today, but the tech investor and owner of the Dallas Mavericks wasn't born into money. He grew up in a working class family in Pittsburgh. His father installed upholstery in cars and his mother worked odd jobs.

When Cuban was a teenager, he made money however he could, including by reselling baseball cards, stamps and coins. "I have always been selling," he says on a recent episode of ABC's "Shark Tank." "I always had something going on. That was just my nature."

Cuban's own experience lays the framework for his No. 1 money-saving tip for kids: "Open a savings account and do odd jobs to earn money to save!"

No matter how much it has in it, keeping and monitoring a savings account instills good habits in children.

Cuban was asked to share his advice as part of a month-long financial literacy campaign run by the Council for Economic Education, a 70-year-old organization that promotes economic education and financial education in school, from Kindergarten through 12th grade.

Money-saving tips will roll out on social media throughout the month with the hashtag #MySavingsTip.

Cuban has gone on to found multiple tech companies, one of which he and his co-founder sold to Yahoo for $5.7 billion, and to buy the Dallas Mavericks. Going all the way back to his childhood slinging baseball cards, Cuban says, "I was a hustler."

See also:

How Mark Cuban went from a working-class family in Pittsburgh to a self-made billionaire

Mark Cuban, Daymond John and other 'Shark Tank' investors share 10 things you have to do to be successful

How a 25-year-old high-school dropout cold-emailed Mark Cuban and got an investment

Mark Cuban: The world's first trillionaire will be an artificial intelligence entrepreneur