Barbara Corcoran, the renowned millionaire and star of ‘Shark Tank,’ opts for economy class flights over first class, despite her considerable wealth. She views the choice as a savvy financial strategy, prioritizing value and practical benefits over short-term luxury.
Corcoran believes that the cost of a first-class ticket, which is about four times that of an economy ticket, does not justify the expense. She prefers to use the savings to secure free miles, which she then shares with her family. “I get the free miles and I can give them away. I have everybody in my family flying on my free miles,” Corcoran stated on The Jamie Kern Lima Show.
For Barbara Corcoran, the satisfaction of providing free trips to her loved ones far outweighs the comfort of first-class travel. “What’s more important, that everybody gets free vacations or that I’m comfortable in first class? I guess I could afford to do both, but I won’t. I’ll be in coach feeling smug because I know I have three plane tickets that could take somebody somewhere,” she explained.
If you had her wealth, would you do the same: still fly with economy class, and bring food to the airport?
"Barbara Corcoran is a self-made millionaire: Why she refuses to fly first class" https://t.co/v9FExtWEg5
— Money Coach Helen (@MoneyCoachHelen) December 16, 2024Mindful Spending from Early Lessons
Raised with a keen awareness of money’s value, Corcoran’s upbringing and path to success have reinforced her habit of mindful spending. She invests in experiences and ventures that offer lasting value rather than indulging in ephemeral comforts.
In a 2018 CNBC Make It interview, Corcoran shared that she could not justify the expense of first or business class. She also mentioned her habit of bringing her meals on flights, consisting of fruit, cheese, and baked goods, enhancing her travel experience without additional cost. “When I sit there and open up my little gourmet meal, it’s much better than anybody’s getting up in business or first class. I’ve made my specialness out of a cheap seat,” she said.
Barbara Corcoran’s choice to fly economy reflects her broader financial philosophy: prioritize practical, value-generating decisions over luxury. Her approach saves money and enriches her family’s lives, exemplifying how thoughtful spending can lead to more meaningful gains.
