Barbara Corcoran, well-known for her sharp business acumen and role on “Shark Tank,” has built an impressive fortune. But despite her wealth, she follows a surprisingly frugal lifestyle, avoiding expenses that many people assume come standard with success. Her approach to spending is both practical and insightful, showing that even millionaires can be mindful about where their money goes.
Here’s a look at some of the ways she saves without compromising her lifestyle.
Preferring Coach Over First Class
Despite being more than capable of affording first-class flights, Barbara Corcoran chooses to fly economy. She has spoken about this decision multiple times, emphasizing that spending extra on a premium seat simply isn’t worth it to her.
“I’m too frugal for that,” she once shared. But she doesn’t just settle for the standard in-flight experience. Instead, she creates her own version of luxury, bringing along a carefully curated travel kit.
“I always carry a pressed napkin from home, a mix of soft and hard cheeses, some good bread, and a nice bottle of wine I pick up after security,” she said. “It turns my coach seat into the best table in the sky.”
Even among her fellow “Shark Tank” stars, she stands out. “I’m probably the only one without a private jet or first-class ticket,” she noted.
Skipping High-End Handbags
Designer bags with hefty price tags don’t make the cut in Corcoran’s spending habits. While many expect someone of her stature to carry luxury accessories, she deliberately opts for practicality.
“I look for bags made of tough, inexpensive leather,” she said. “The pricey ones stretch out and lose their shape.”
Her logic is simple: a well-made, durable bag at a lower price does the job just as well, without the unnecessary markup.
Budget-Friendly Jewelry Choices
Corcoran’s jewelry might sparkle under studio lights, but the price tags remain modest. Many assume she wears high-end pieces, but in reality, she prefers affordable options.
“Nothing I wear costs more than $30,” she admitted. “That way, if I lose something, I don’t even think twice about it.”
This practical approach allows her to enjoy fashion without worrying about losses or high expenses.
Avoiding Bottled Water
One of Corcoran’s more unexpected money-saving habits is refusing to buy bottled water. Her reasoning goes beyond just cost—she sees it as an unnecessary expense with environmental downsides.
“New York tap water is great,” she said. “Why carry home bottles when I can get clean, fresh water straight from the tap?”
She also dislikes the waste factor, noting that most plastic bottles eventually end up in landfills.
Cutting Out Office Supply Costs
While most businesses wouldn’t think twice about restocking office supplies, Corcoran takes a different stance, particularly when it comes to pens. She once realized that her company was spending thousands per year on something employees often lost or took home.
“Pens disappear like magic,” she pointed out. “So I stopped buying them. If someone wants a pen, they bring their own.”
Where She Does Splurge
While Corcoran is intentional about cutting unnecessary expenses, she doesn’t hold back when it comes to her employees.
“I might be careful with my own spending, but I make sure my employees are well taken care of,” she said.
This balance between mindful personal spending and generosity toward her team reflects her thoughtful approach to money—valuing quality where it matters most.
Barbara Corcoran’s financial habits offer a refreshing take on wealth management. She proves that financial success doesn’t have to come with extravagant spending. Instead, she focuses on value, practicality, and making smart choices—lessons that anyone can apply, regardless of their income level.
