“If you can pay cash for something, you can afford it,” Dave Mirra said at a free financial education seminar held at the Empire Theater on Nov. 20 by Master-Card and San Antonio Credit Union (SACU).
This has been the philosophy of his financial life, which has paved the way to his financial success.
Born in Syracuse, NY, Mirra learned to ride a BMX bike with the aid of his brother at the age of five.
While flipping through vivid magazines, he captured every trick before trying them out and perfecting them on his bike. Just before high school graduation, his childhood dream became reality as he became a pro rider.
A dreadful event in 1993, however, brought his riding to a halt when a drunk driver hit him while Mirra was on foot, causing a fractured skull, dislocated shoulder and hospitalizing him for eight days.
Not too long after the accident he took home a silver medal from the X-Games. His riding skills have enabled him to earn more than 20 medals.
Along with great success in BMX came vast opportunities for Mirra. His risk-taking, decision-making motto has led to several business ventures including hosting MTV’s hit show Inferno for two seasons, appearing in a self-titled video game, Dave Mirra Freestyle BMX, gaining several endorsements and taking part in a BMX bicycle company, Mirraco.
Mirra greatly emphasized on the how a product is depreciated once it purchased. He gave an example stating that once a couch is bought, it immediately becomes old.
“The day you bring them home, is the day they get old,” Mirra said.
“Money to me in the bank was freedom,” Mirra said. He pointed out how important it is to save money for a rainy day.
Mirra’s father came from very conservative ideals, which he passed to his son. He believed that always having spare cash was important for being financially independent.
For more information on Dave Mirra visit http://www.davemirra.com/.