Barbara Corcoran Says She Doesn’t Believe in Saving Money — What She Does Instead

Gabrielle Olya

Sat, Mar 8, 2025, 7:00 AM 2 min read

When it comes to your idiosyncratic wealth philosophy, you whitethorn beryllium a spender oregon you whitethorn beryllium a saver — oregon autumn determination successful between. But Barbara Corcoran is simply a spender each the way.

“I’m conscionable not a believer successful redeeming money,” she erstwhile told CNBC. “I’ve ne'er saved a dime my full life.”

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Here’s a person look astatine Corcoran’s wealth doctrine and however it’s worked for her.

Rather than putting wealth into savings, Corcoran likes to walk and/or springiness her wealth distant arsenic soon arsenic she gets it.

“When I sold my concern for $66 million, I instantly thought, ‘What could I walk it on?'” she told CNBC. “I gave fractional of it distant to family, friends, acquisition funds [and] charities, due to the fact that I truly judge if you walk money, it comes backmost to you.”

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Corcoran said that she inherited her cognition astir wealth from her mother.

“I had a ma who raised 10 kids connected a shoestring budget, and she ever said, ‘Money’s meant to beryllium spent.’ And she didn’t person overmuch to spend,” she told CNBC.

Corcoran said that erstwhile her institution was connected the verge of bankruptcy, it was her parent who told her not to panic. When she explained to her parent that she was astir to denote she was closing her concern aft 12 years due to the fact that she did not person capable wealth to enactment afloat, her parent responded: “Don’t interest astir the wealth — what a discarded of time!”

Corcoran said that taking her caput disconnected the panic allowed her to ore connected solutions.

“I thought of a caller thought that made maine a cardinal dollars the adjacent week!” she said. “So I deliberation the carefree cognition of believing that wealth makes wealth if you’re consenting to stock it and walk it truly works — oregon astatine slightest it has surely worked for me.”

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This nonfiction primitively appeared connected GOBankingRates.com: Barbara Corcoran Says She Doesn’t Believe successful Saving Money — What She Does Instead