1.19.2009

Suze Orman

Last year blew major rhino financially for almost everyone. 2009 doesn’t seem to be shaping up any better any time soon. Credit is drying up, 401Ks are way down, and your house isn’t worth crap. I’m no financial wizard but I try to live within my means which seems to be more than almost everyone according to the news and current economy. So it warms my heart to watch the Suze Orman show and see her verbally kick the crap out of people who call her for advice on the "Can I afford it?" section of the show.

Basically, they call up and give her their financials and then tell her what they want to buy and how they plan to pay for it. She then tears them a new one because many have no business eating out for lunch let alone buying a new $1000 puppy or trading in their leased BMW to get heated steering wheel version. I’ve done my share of stupid buying, but 2008 and 2009 are not the years to be cavalier. So Suze has become my new hero.

Much of what she says is just common sense, but many are in need of that rare commodity. I also often get interesting information on retirement, investing, and IRAs too, so in addition to being entertaining, I think it has something for most people. The mystery of the FICO score has been solved. Her show and web site take questions too.

In addition to her weekly show, which I TIVO, I’ve also seen her on Oprah a couple of times and have read two of her books, "2009 Action Plan" and "Women & Money". The great thing about the books is the fact that she gave them away for free via the internet. Mad props Suz…I realize it gives you advertising and name recognition, nonetheless, anything of any value, for free, is a Godsend in my world. Both books were decent too. Ok, the "Women and Money" one was for my wife, but there was androgynous info too. I also got hooked up with her Ameritrade Save Yourself savings account where if you deposit $50 per month for 12 consecutive months, she gives you a $100 bonus on top of the savings interest rate. I’ll take it. Cha-Ching. My cash should be coming in Feb. Do the math friends, that’s like a 30% return. (Need to use future value function because all $600 won’t be in there the full year. Sorry didn’t mean to complicate things.) Trust me, that $50 per month couldn’t earn more anywhere else, for the first year at least, and it’s taxable of course.

I think the basis of her entire work is the message that people need to start being honest with themselves. Honest about how much they make, how much they spend, and what they can really afford. I think the message is great and anyone looking for free advice would do well to check out her show and/or website. If you know nothing of money, times up. You better start learning. Now that I think about it, never mind, live it up and go get in line, somebody will bail you out and I’m sure at least a portion will come from me.

2 comments:

Da Old Man said...

My wife loves her some Suzy Orman. She even bought her "Blue Box" to at least put all our financial crap in one place.

RaBT said...

I hear ya - I watch the Suze Orman show from time to time and her trump card now is "the economy sucks". Nobody can really call up about anything and get her to buy off on it.

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