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Mark Cuban Backs Summer Reading Challenge for Kids

Mark Cuban also has investment advice.

Mark Cuban in Carnegie Library of Pittsburgh Video (screenshot)

Billionaire Mark Cuban really wants kids and teens to spend their summer reading. He is helping to promote summer reading challenges. Mark Cuban has also revealed 20 genius things that he does with his money.

There are many different summer reading challenges being conducted for children all over the world. For example, the Los Angeles Public Library is promoting one which goes from July 7 to August 7. This challenge promoted the reading regular books, e books, graphic novels or magazines; or even just listening to an audiobook. Participants earn points and can win prizes.

“Reconnect with the library this summer! Renew your love of reading, learning, and community. Reimagine the future—discover all the great resources that your library has to offer.”

In a video he recorded for the Carnegie Library of Pittsburgh, Mark Cuban said, “Growing up in the South Hills was amazing for me, but do you know what was even more amazing? Every summer, being able to read books about the things I dreamed of. I dreamed of traveling. I dreamed of starting a business.”

“Every time I read a book, it took me on a new adventure. It took me somewhere else in the world. Read this summer. There are so many things you can learn,” Cuban added.

So what are the smart things that Mark Cuban does with his money? Cuban discussed 20 genius things that he does in an interview with Yahoo finance. Number one on his list is that one should always be willing to take risks. “Talk to any self-made millionaires or billionaires and they might preach the importance of taking calculated risks. Sometimes, risks and rewards go hand-in-hand,” said Mark Cuban. But he also says that one should only invest up to 10% in risky investments.

The most important things on Cuban’s list include only putting money in the bank, save save save, don’t invest in what you do not fully understand, pay off your debt before making new investments and never let yourself have credit card debt for more than 30 days.

That last piece of advice from Mark Cuban is probably the most important of all. Remember that credit card debt interest rates are absurdly high, much higher than returns from basic investments. So every dollar that you pay off in credit debt is a dollar wanted.

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