If one of your New Year’s resolutions was to save money, then you’re in luck, because Shark Tank star Barbara Corcoran recently chatted with E! News about successful saving, and other financially-savvy advice. Keep reading below for all her tips, plus see the full video from E!’s Daily Pop show, which airs weekdays at 12 PM ET/PT.
On managing your money:
Barbara told E! that it all starts with your attitude towards money. “Everyone thinks it’s about saving money, but it’s not, it’s about spending money. Money is meant to be spent,” she explained.
According to Corcoran, the first thing to do is to put away your credit cards, and pay cash for everything, that way “you at least have a read on where your money is going.”
As for what she looks for in an investment? Barbara said: “It’s not the product, ever. It’s the entrepreneur. Every time, there’s no exception… It’s about the persistence that they bring to the table.”
So, if you pay attention to who is creating the product, as opposed to what they’re selling, you’ll make a more informed decision on your next investment.
On Her Shark Tank Castmates:
Barbara insisted that her co-stars on Shark Tank are like a family to her, and everyone has a role. “Kevin’s the bully in the family, Mark’s the big man on campus, of course. Robert’s the baby that never fits in, and always wants attention. But, that’s the way he is really within the family unit. Lori, of course, “let’s all get along.” And, of course Daymond is everybody’s family favorite.”
And how would her co-stars describe her? Barbara said they’d tell the truth: “They would say I’m the most beautiful, smartest, and best investor.”
You can check out the full video below: