Oct 27, 2017

Mark Cuban and other execs weigh in: their No. 1 best money-saving tips

CNBC asked several top executives to give their best money-saving tips for ALL kids – ages 5 to 95.

While it’s better to learn financial literacy as young as possible, it’s never too late to get stronger about saving.

As the Council for Economic Education points out:

"With early and continued exposure to personal finance and economics, kids grow up to be better savers, investors, borrowers, voters and participants in the global economy."

And, further: "They can make better financial decisions for themselves and their families."

Some highlights from the pros

From Mark Cuban, investor, entrepreneur, television personality and owner of NBA’s Dallas Mavericks

Tip: "Open a savings account and do odd jobs to earn money to save!"

From Alexa von Tobel, founder and CEO, LearnVest

Tip: "Saving is a muscle. The sooner you start the stronger it gets!!!"

From Brian Kelly, founder and editor in chief at ThePointsGuy.com

Tip: "Travel makes you a better person. Save for trips — not things!"

From Carrie Schwab-Pomerantz, President, Charles Schwab Foundation and SVP Charles Schwab

Tip: "Make saving a part of your routine — like brushing your teeth! Put aside at least a small portion (say 10 percent) of every dollar you receive, including gifts, allowance, and money from your first job. You’ll be really glad you did."

From Ron Lieber, The New York Times "Your Money" columnist and author

Tip: "Doing things > having things. Your spending = your values."