You might not find Mark Cuban the most agreeable of men, but you can respect his way with holding onto a dollar or two. Forbes asked Cuban about what he'd do if $US100,000 fell suddenly into his lap.
Image via AMagill.
First I pay off all my credit card debt and evaluate paying off any other debt I have. What I have left I put in the bank.
Then I try to create as much transactional value as possible from that cash. I look at my annual budgets for everything and anything, and I look to see where I can save the most money on those items. Saving 30% to 50% buying in bulk - replenishable items from toothpaste to soup, or whatever I use a lot of - is the best guaranteed return on investment you can get anywhere.
Get Rich Slowly, and Forbes' original interview, have Cuban's full answer, along with some higher-level tips on building and keeping a fortune.
Advice from a Billionaire: What to do With a Windfall [Get Rich Slowly]