Barbara Corcoran has been a leading expert for many years when it comes to money and finances.
Corcoran has stated the one big mistake that many women are making with their money, and it is one that many might find intriguing.
Barbara Corcoran Is a Leading Investor on Shark Tank
The Barbara Corcoran website states that she is a business owner, investor, and executive producer on “Shark Tank.”
She was able to turn a $1,000 loan into a billion-dollar business, so it’s safe to say that she knows what she’s talking about when it comes to money.
Barbara Corcoran Shares the Biggest Mistake Women Make with Money
As a leading investor and businessperson, Barbara Corcoran shares how to increase money and the mistakes people are making with it.
According to Corcoran, one of these mistakes is that women save money rather than spending it, as reported by BuzzFeed News.
Barbara Corcoran Doesn’t Believe in Saving Money
For centuries, people from all over the world have been constantly being told to save their money, either for big spending like a house or car or just in case of a rainy day.
However, Corcoran doesn’t believe in that. She says that she instead believes in spending money. She just believes that more money will come.
Barbara Corcoran Got This Belief from Her Mother
The belief of spending money fast as opposed to saving it had to come from somewhere, and Corcoran said that she got this belief from her mother.
Corcoran said that her mother often struggled to make ends meet but was a firm believer that everything would eventually work out, something Corcoran has carried with her throughout her whole life.
Barbara Corcoran Has Never Saved Any Money
Many people might believe that one of the world’s leading businesspeople has some money saved up, but she doesn’t.
CNBC has reported that Corcoran has “never saved a dime” her “whole life,” the opposite of the advice others have given over the years.
Barbara Corcoran Also Hates Women with a ‘Victim Mentality’
In addition to telling them to spend instead of save, Corcoran hates it when women display a victim mentality about money and business.
She will tell them that they need to act like the woman that their daughter would be proud of. Sometimes, she even goes so far as to say that they should be ashamed of themselves for displaying a victim mentality.
Barbara Corcoran Sold Her Business and Immediately Spent the Money
CNBC reported in May 2023 that Corcoran struggled to negotiate a sale price for her business, which was eventually sold for $66 million.
While most people would probably save at least some of this money, Corcoran said that once she knew the sale price, she immediately thought of what she could spend it on.
You Have to Spend Your Money on the ‘Right Things’
While Corcoran has said that people should spend instead of save, she has also said that people need to be spending their money on the right things, according to Yahoo! Finance.
One of these things that Corcoran spends her money on is startup businesses, as she believes that spending her money on these businesses will result in her making a profit.
There Is a Psychology Behind Saving vs. Spending Money
CNBC has said that there is a psychological difference between people who save money vs. people who spend it.
The difference between the two is essentially how you feel when you have to part with money, with spenders tending to be happier about spending their money, while the thought of having to spend money can stress savers out.
Mark Cuban Suggests a Different Approach to Money
Whilst one “Shark Tank” investor is saying to spend your money and not bother saving, another states the opposite.
Mark Cuban, who works alongside Corcoran, has said that the best way for people to get rich is to save money, according to The Mark Cuban Weblog.
Barbara Corcoran’s Method Works … For Her
It is always important to base any financial advice on what works best for you, and that is exactly what Corcoran has done.
She has said that having this carefree attitude and that sharing and spending money makes money has worked really well for her, and she truly believes that this will work really well for other people too.
