Real Estate Mogul Barbara Corcoran's Take on Saving Is Pretty much the Exact Opposite of Dave Ramsey's
When it comes to personal finance, Barbara Corcoran is a household name. That's because the real estate guru turned Shark Tank host is known for being a money-savvy millionaire. However, her recent confession about spending will likely have some folks wondering how she managed to amass her fortune in the first place.
That's because she says she doesn't actually believe in saving money, which raises questions about how she managed to save so much. Curious how she can claim not to save while also sitting on a massive pile of cash? Keep reading to learn more.
Barbara Corcoran Says She's Never Saved a Dime
Corcoran opened up to CNBC about her unusual take on savings, saying, "I'm just not a believer in saving money. I've never saved a dime my whole life." According to Corcoran, she learned this philosophy from her mother, who raised "10 kids on a shoestring budget."
This apparently really stuck with the real estate guru over the years, and she followed in her mother's footsteps, opting to spend her money rather than save it. However, the off-the-cuff remark isn't as simple as it seems. That's because Corcoran says she got rich by choosing what to spend her money on, including many different investments and spending on her nearest and dearest.
"I think the carefree attitude of believing that money makes money, if you're willing to share it and spend it, really works, or at least it has certainly worked for me," she explained. "And I don't believe in hoarding money, saving money, everything like that. Because for me...it would take my spirit away."
Corcoran's Money Philosophy is the Opposite of Dave Ramsey's
Fans of Dave Ramsey may remember that he has a "7 Baby Steps" philosophy, which he encourages his followers to follow to gain financial independence and grow their wealth.
According to his website, those steps include:
- Saving at least $1,000 for an emergency fund
- Paying off debts using his snowball method
- Getting three to six months' worth of expenses set aside for a fully funded emergency fund
- Invest 15 percent of your household's income into some sort of retirement account
- Save for college for your children
- Pay off your mortgage
- Build wealth and give it away
Related: Dave Ramsey's 'Sage Advice' Has People Calling Him a Giant Hypocrite
While some of those statements seem in line with what Corcoran does (specifically, building wealth and giving it away), it looks like she opts not to complete a lot of the other steps from Ramsey. And while this has obviously worked for her, one has to wonder whether or not it's too big of a risk for those who are looking to save up for something big, like retirement.
Ramsey seems to offer some easier-to-follow advice that produces a more common outcome, making it easier for people of all walks of life to follow. Corcoran's advice seems better suited to higher earners, who may not need to worry as much about surprise expenses given their existing net worth.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
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This story was originally published April 28, 2026 at 5:00 AM.