Keep Your Money to Yourself

Cuban doesn’t seem to believe the old adage, “Sharing is caring.” In an interview with The Dallas Morning News, he advised potential lottery winners to think twice before lending money to anyone. His advice is applicable to anyone who comes across a financial windfall.

“Tell all your friends and relatives no,” Cuban said. “They will ask. Tell them no. If you are close to them, you already know who needs help and what they need. Feel free to help some, but talk to your accountant before you do anything. And remember this: No one needs $1 million dollars for anything. No one needs $100,000 for anything. Anyone who asks is not your friend.”

For financial advice on money and investing, seek out those with a successful track record. Your chances of a one-on-one session with Mark Cuban are probably slim to none, but this doesn’t mean you can’t benefit from his wisdom. Between his blogs, interviews and Q&A sessions, he’s proven that he’s more than willing to share his money tips with others.

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Gabrielle Olya contributed to the reporting for this article.