Cuban is right on point.

The first thing someone should do is make a budget at least of their core expenses of food, shelter, and transportation. I would put the savings goal at 12 x your fixed core expenses. An option would to include other debt payments (besides mortgage and car loans), insurance and other necessary expenses that you cannot eliminate.

For the vast majority of people, that would be a goal of under $50K. If that is not enough, then you have analyze your core expenses and look for cheaper solutions and cost saving measures.

The next step is to go over all of their financial accounts from bank accounts, credit cards, loans, debts, investment and retirement accounts, and insurance. You can sign up with Personal Capital for free and add all of the accounts so you can get a clear picture of your present financial condition.

If someone is not willing to do that, then they will fail. Organization and record-keeping is the first step and it is mandatory.

It may be necessary to find someone who is good with money and a trusted friend or family member to help with the process.

This can be done in one afternoon, although the budgeting should be done week to week or month to month for at least a few months to get in the habit of tracking your revenue and expenses.

Those 8 hours of work could total revamp anyone's financial future.