Kevin O’Leary’s Most Controversial Money Advice: Will It Help You Build Wealth?

Shark Tank star Kevin O’Leary is famous for his honesty , smart business decisions and, of course, his high-net worth. To be blunt, this is someone who knows much more than a thing or two about getting — and staying — rich.

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So when someone like O’Leary gives advice about finances, it’s probably worth your time to listen. As such, here are two pieces of money advice from O’Leary that, while they may be controversial to some, could help you if you’re looking to build wealth , according to The Ascent and Business Insider :

Money mistakes the super wealthy never make - that you might be doing now.

Pay Off Your Credit Card Valance in Full Each Month

O’Leary is a strong advocate of always paying off your credit card balance in full each month. He has asserted that letting interest accrue overtime is essentially throwing your money away (which is true). However, transferring your balance to a credit card with an 0% introductory interest rate allows you to defer interest payments and gives you more time to pay off that balance without worrying about going into debt. This can be a smart move if you know you’ll have the money to pay your balance off soon, but you just need a little more time.

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Don’t Combine Finances with Your Spouse

You might feel compelled to combine all your finances once you get hitched. It’s easy for your emotions to take over; but, be careful before you make this decision. O’Leary explained that maintaining separate bank accounts, investment accounts and credit cards is crucial even if you’re married. In the event of a break up or a divorce, untangling your finances can be a huge mess and may leave you high and dry. However, if combining your finances increases your collective financial standing or results in financial benefits such as easier money management and total visibility, only then might it be worth considering.

This article originally appeared on GOBankingRates.com : Kevin O’Leary’s Most Controversial Money Advice: Will It Help You Build Wealth?