Barbara Corcoran, renowned for her role on Shark Tank and her real estate acumen, exemplifies a lifestyle of mindful spending despite her substantial wealth. Her approach to finances offers practical lessons for anyone aiming to manage their money wisely. Here are five of her notable frugal habits:
She Prefers Economy Over First-Class Flights
Despite the means to afford first-class travel, Corcoran opts for economy seating. She believes that the significant cost difference is better utilized elsewhere, like accumulating airline miles to gift vacations to family members. This choice shows her focus on shared experiences over personal luxury.
Her commitment to flying coach may seem unusual for a multimillionaire, but she stands by the value it creates over time. It’s a consistent reminder that even high-net-worth individuals watch where their money goes. (people.com)
She Avoids Splurging on Designer Handbags
Corcoran steers clear of luxury handbags, favoring affordable, durable ones instead. She points out that expensive designer bags often use soft leather that stretches and loses shape quickly. For her, function always outweighs fashion labels.
She prefers hard leather bags that keep their form and cost a fraction of what luxury brands charge. It’s a small but intentional decision that keeps her spending in check.
She Chooses Inexpensive Jewelry
When it comes to jewelry, Corcoran sets a hard cap—she rarely spends more than $30 on a piece. Her reasoning is simple: expensive accessories are stressful to lose, while budget-friendly ones let you enjoy the style without the worry.
She also points out that most people can’t tell the difference anyway. This habit keeps her wardrobe fresh and affordable, without sinking big money into items that might disappear.
She Eschews Bottled Water
Corcoran prefers tap water—especially in New York—over purchasing bottled water. She’s not a fan of paying for something that comes practically free and tastes great straight from the sink.
It’s also about convenience and reducing waste. Lugging cases of bottled water up to her apartment doesn’t make sense when the alternative is just as good. Practical and eco-friendly.
She Limits Office Supply Expenses
In her business, Corcoran noticed the team was blowing through $1,000 a month—just on pens. That’s when she implemented a simple rule: bring your own. Not because she’s cheap, but because she doesn’t like waste.
It’s a good example of how small, unchecked costs can stack up fast. Even in a successful business, being aware of the little expenses keeps everything lean and efficient.
Corcoran’s habits aren’t about deprivation—they’re about discipline. These choices reflect a mindset that values intentionality over impulse, and it’s one of the reasons she’s been able to build long-term wealth while staying grounded.
Alexander Clark is a financial writer with a knack for breaking down complex market trends and economic shifts. As a contributor to The Daily Overview, he offers readers clear, insightful analysis on everything from market movements to personal finance strategies. With a keen eye for detail and a passion for keeping up with the fast-paced world of finance, Alexander strives to make financial news accessible and engaging for everyone.
