Barbara Corcoran's 5 Frugal Habits Can Help You, Too
What won't "Shark Tank" star and real estate mogul Barbara Corcoran spend her money on? The answer is much more than you might think.
As a self-made millionaire, there's a list of ritzy and practical items alike Corcoran does not splurge on and some of the things she doesn't buy might surprise you. Here are the top things she doesn't think are worth the money.
She Doesn't Spend Money on a Business Class or First Class Plane Ticket
Corcoran has famously been outspoken about why she doesn't fly first class. She made headlines in 2018, stating on CNBC that she only flies economy and again in 2019, during a guest appearance on "The Rachael Ray Show."
While, in both interviews, she admitted the reason she won't fly first or business class is because "I'm too cheap," Corcoran shared a trick she keeps up her sleeve to make her coach seat seem enviable to other flyers.
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"I bring a napkin that's starched from home, I always bring two kinds of cheese — a soft and a hard cheese — and I buy wine after I get through security," said Corcoran to Ray, adding that she also buys bread, salami and a piece of fruit, too. "I just sit there and I'm telling you people look at me [with jealousy]."
She's still practicing this frugal behavior today. In 2023, Corcoran told Us Weekly she's "the only one who doesn't have a jet or fly first class" in the "Shark Tank" cast.
She Won't Spend Money on a Designer Handbag
Corcoran told Ray that everyone thinks she should have a handbag that costs $2,000 to $3,000. However, she doesn't look for this kind of handbag.
"What I'm looking for always is a bag that's cheap, with hard leather, not expensive leather," she said to Ray. "Expensive leather gets stretched out."
She Does Buy Cheap Jewelry
The next time you watch Corcoran on TV and think the jewelry she's wearing is expensive, don't fall for it.
"It's all cheap [jewelry]," said Corcoran. "I spent no more than $30 on anything that I wear. And when you lose it, you don't cry."
She Doesn't Buy Bottled Water
There's a threefold reason Corcoran doesn't buy bottled water. She told Ray she loves New York tap water, doesn't like to carry bottles home and knows that she is carrying home a bottle that will go into the trash and end up in a New Jersey landfill.
She Won't Buy Pens for Her Company
Aren't pens pretty cheap to grab at office supply stores? Corcoran defended her unusual frugal habit to Ray and said it was because years ago, she had 1,000 employees and realized she was spending $1,000 a month or $12,000 a year, on pens.
"Pens have a way of leaving the office and never coming back," said Corcoran, adding that people have to bring their own pens to work.
The one thing she doesn't skimp on, no matter how thrifty she is on every other purchase? Her employees.
"I'm not that cheap, because I treat my employees so well," Corcoran admitted to Ray.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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