Barbara Corcoran: This Is the No. 1 Money Tip Everyone Should Follow
Written by
Gabrielle Olya
Edited by
Gary Dudak
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Barbara Corcoran was able to turn a $1,000 loan into a real estate empire, so she definitely knows a thing or two about how to best use your money. The “Shark Tank” star and one of GOBankingRates’ Money’s Most Influential Women is a firm believer that there is one investment that always pays off.
Here’s what Corcoran says is the No. 1 thing every woman should do with her money.
Invest in Yourself
Corcoran said that women shouldn’t shy away from spending money — especially if it’s on a worthwhile investment.
“Money is meant to be spent,” she told GOBankingRates. “And the best money spent is on investing in yourself.”
This is advice she has been following herself from early on in her career.
“I spent my first $340 commission check on a brand new coat from Bergdorf Goodman, and it gave me the confidence to become as big as I dreamed,” Corcoran said, “so spend a little extra money on a new outfit to make you look the part of the person you’re hoping to be.”
If clothes aren’t your thing, use your money to learn something that will increase your earning potential.
“Invest in a course that can teach you new skills to help set you up for a promotion at work,” Corcoran said.
Jaime Catmull contributed to the reporting for this article.
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