{"id":588051,"date":"2026-05-16T23:01:13","date_gmt":"2026-05-16T23:01:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/588051\/"},"modified":"2026-05-16T23:01:13","modified_gmt":"2026-05-16T23:01:13","slug":"barbara-corcoran-doesnt-believe-in-saving-money","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/588051\/","title":{"rendered":"Barbara Corcoran Doesn’t Believe In Saving Money"},"content":{"rendered":"

Since most of us were old enough to understand what money was, we\u2019ve constantly heard about how essential it is to save as much of it as we possibly can<\/a>.<\/p>\n

Because of how our society champions the idea of saving, you would think that most of the wealthiest people out there did a whole lot of it to get to where they are now. However, ultra successful entrepreneur and \u201cShark Tank\u201d star Barbara Corcoran said she amassed her wealth by doing the exact opposite.<\/p>\n

Corcoran revealed that she was raised to simply not believe in the value of saving money.<\/p>\n

She was the guest on a recent episode of Phoebe Gates and Sophia Kianni\u2019s podcast “The Burnouts<\/a>,” and among all of the interesting stories and wisdom she shared, she dropped what a lot of people would undoubtedly call a hot take. Corcoran said, \u201cI don\u2019t believe in saving money<\/a>.\u201d<\/p>\n

The hosts looked at her in confusion and asked her to explain what she meant. Corcoran continued, \u201cI\u2019ve never saved a dime in my life. When I sold my business for $66 million, my first thought was, \u2018What can I spend it on?\u2019\u201d<\/p>\n

Apparently, she gave a significant portion of the money away because her philosophy is, \u201cWhen you spend money, it comes back to you.\u201d Somewhat surprisingly, she learned this from watching her mom raise her and her nine siblings with little money to spare.<\/p>\n

\u201cShe always said, \u2018Money is meant to be spent,\u2019\u201d Corcoran recalled. \u201cOne time I was almost going bankrupt, for maybe the fifth time! I told my mom I had to shut the business down and tell everyone they no longer had jobs. She said, \u2018Don\u2019t worry about the money. What a waste of time.\u2019\u201d<\/p>\n

RELATED: Michael Jackson Manifested Being Michael Jackson Using 4 Easy Manifestation Techniques Anyone Can Do<\/a><\/p>\n

Corcoran knows what it\u2019s like to experience financial hardship, but her comments are still probably going to rub a lot of people the wrong way.<\/p>\n

Clearly, her childhood was not luxurious, and that lasted into her early adulthood. At 23-years-old, Corcoran had already cycled through 20 different jobs<\/a>. She was working as a waitress when she decided to open a real estate company with a $1,000 loan, which led to her success.<\/p>\n

\"barbara Kathy Hutchins | Shutterstock<\/p>\n

One could argue that Corcoran is a bit more in touch with the average person than many other wealthy entrepreneurs because she does know what it\u2019s like to struggle. The fact that she has never tried to save money and started a booming business with a small loan seems like an exception and not the rule, though.<\/p>\n

On the podcast, she insisted, \u201cI never got rich by saving. I got rich by allowing money to come and go.\u201d That might be some kind of unique take on an abundance mindset, but it\u2019s hard to take seriously when her net worth is believed to be $100 million<\/a>. She definitely doesn\u2019t need help now. And, technically, if she has $100 million amassed, wouldn\u2019t it mean that money is actually \u2026 saved up?<\/p>\n

RELATED: Budget Expert Urges People To Stop Saving So Much Money<\/a><\/p>\n

Everyone\u2019s situation is unique, but people might want to refrain from adopting Corcoran\u2019s financial motto.<\/p>\n

It sounds like starting a business with just $1,000 is not a common occurrence, and no one should think that it\u2019s universally possible because it worked for Corcoran. Every business is different, and there are some small startups you can launch at home with just a few hundred dollars. The average small business requires $2,000 to $5,000 to get up and running<\/a>, though.<\/p>\n

\"business Leeloo The First | Pexels<\/p>\n

Additionally, saving money not only gives you a fund you can access in case of emergencies<\/a>, but also helps you reach your goals and feel less stressed. It\u2019s the key to being able to retire as well, although that probably feels far off for some.<\/p>\n

But, I guess those things aren\u2019t really on your mind if you\u2019re sitting on a $100 million net worth. Corcoran was lucky to become very successful very young. Not prioritizing saving money might be feasible for her, but in an increasingly unstable economy, it could lead to absolute ruin for a lot of other people.<\/p>\n

RELATED: A Specific Type Of Person Has The \u2018Easiest\u2019 Chance Of Making Lots Of Money, According To A Leadership Coach<\/a><\/p>\n

Mary-Faith Martinez is a writer with a bachelor\u2019s degree in English and Journalism who covers news, psychology, lifestyle, and human interest topics.<\/p>\n