I've been fascinated by how successful people think about money differently than the rest of us. It's not just about making more, it's about stopping the financial bleeding that keeps most people stuck.
Cuban has been remarkably direct about the expenses he considers wealth killers. These aren't luxuries you can't afford. They're traps disguised as normal spending, things everyone else does that drain your resources without building anything.
What strikes me about his advice is how uncomfortable it is. These aren't easy cuts. They're things people justify, defend, and convince themselves are necessary. But Cuban argues that wealth-building requires ruthlessly eliminating expenses that don't generate value.
Here are seven expenses Mark Cuban says you need to eliminate immediately if you're serious about building real wealth.
1) Credit card interest
Cuban has said repeatedly that paying credit card interest is the fastest way to stay poor. If you're carrying balances and paying 20%+ interest, you're working backwards financially.
He's not subtle about this. Cuban calls credit card debt a trap that makes banks rich while keeping you broke. Every dollar you pay in interest is a dollar that could be invested or saved.
His advice is simple: stop using credit cards you can't pay off monthly. If you have balances, attacking that debt becomes your first priority before any other financial goal.
This makes people defensive because credit card debt feels normal. But Cuban's point is that normal financial behavior keeps you average. Building wealth requires different choices.
2) New cars and Auto Loans
Cuban drove the same car for years even after becoming wealthy. He's repeatedly said that buying new cars is one of the biggest wealth destroyers for regular people.
Cars depreciate the moment you drive them off the lot. Taking on auto loans means paying interest on something that's actively losing value. It's financial self-sabotage.
His recommendation is to buy used, pay cash when possible, and drive cars into the ground. The money saved on car payments and depreciation can be invested, where it actually grows instead of evaporating.
I've watched people making $50,000 a year buy $40,000 cars on loans. Cuban would call this insanity, and he'd be right. That monthly payment is stolen wealth.
3) Subscription Services you barely use
Cuban talks about subscription creep constantly. That $10 here, $15 there adds up to hundreds of dollars monthly for services people barely use.
Streaming services, gym memberships, software subscriptions, meal kits, subscription boxes. Each one seems small, but together they're a significant drain.
His advice is to audit subscriptions quarterly and ruthlessly cut anything you're not actively using. If you haven't been to the gym in three months, cancel it. If you're not watching a streaming service, kill it.
When I finally audited my own subscriptions last year, I found $80 monthly going to services I'd forgotten about. That's nearly $1,000 annually wasted on nothing.
When I finally audited my own subscriptions last year, I found $80 monthly going to services I'd forgotten about. That's nearly $1,000 annually wasted on nothing.
4) Luxury Items for status signaling
Cuban has talked about how destructive status spending is for wealth building. Designer clothes, luxury brands, expensive watches bought to impress others are wealth killers.
He famously wore the same shoes for years despite being a billionaire. His point was that spending money to signal status is money that could be building actual wealth instead.
The people trying to look rich are usually the furthest from it. Real wealth building requires being comfortable looking average while your money works for you invisibly.
This is probably the hardest expense to eliminate because status signaling feels good. But Cuban's point is clear: choose between looking wealthy and becoming wealthy.
5) Eating Out constantly
Cuban has mentioned that eating out regularly is a massive drain on potential wealth. The markup on restaurant food combined with frequency makes this one of the biggest budget killers.
He's not saying never eat out. He's saying that making restaurant meals your default instead of cooking is expensive and adds up to serious money over time.
A family spending $600 monthly eating out could save $7,000 annually by cooking at home more. Invested properly, that compounds into significant wealth over decades.
I've tracked my own restaurant spending and been shocked by the totals. What feels like casual spending becomes thousands annually that could be working for you instead.
6) Extended Warranties and insurance add-ons
Cuban has talked about how extended warranties and additional insurance coverage are usually bad deals designed to profit companies, not protect consumers.
Most electronics don't break during warranty periods. Most additional insurance options duplicate coverage you already have or protect against unlikely events.
His advice is to self-insure for small items by saving the warranty cost instead. You'll come out ahead over time by not buying protection you probably won't need.
People buy these add-ons from fear, but statistically you're better off taking the risk and keeping the money. Cuban understands that insurance companies wouldn't offer these products if they weren't profitable for them, not you.
7) Lifestyle Inflation
This is Cuban's biggest warning: don't increase spending as income grows. Lifestyle inflation destroys wealth building faster than almost anything else.
You get a raise, so you upgrade your apartment or car or wardrobe. Your income grows but your savings don't because spending grows in parallel. Cuban calls this the trap that keeps high earners broke.
His approach when his income increased was keeping his lifestyle relatively stable and banking the difference. That's how wealth actually builds, through the gap between earning and spending.
I've watched this play out with friends who make good money but somehow never build savings. Every income increase gets absorbed by lifestyle upgrades, leaving them as financially vulnerable as before.
Conclusion
Cuban's advice isn't complicated. Stop paying interest on depreciating assets. Stop spending to impress people. Stop letting small recurring expenses drain you. Stop inflating your lifestyle as you earn more.
SAVE MONEY !!!
LEARN HOW to COOK BASIC FOODS
