What Suze Orman Says About Personal Finance And Debt?Suze Orman Suze Orman is a noted and well-respected financial guru made famous through her numerous books, appearances on Oprah, and radio and TV shows. She takes a non-sense approach to financial management and clearly argues that one should guide their finances by logic, not emotion. Specifically, she seeks to empower women dealing with money.
Suze Orman Debt Suze Orman takes a simple approach to debt – eliminate it! She advocates the method of paying off debt by paying off higher interest rate debts first. She urges homeowners to make a bi-weekly payment to their mortgage in order to pay off a mortgage in as much as 7 years faster! She encourages each person to seriously consider purchasing an item on credit and to do without rather than rack up credit card debt. Like many others, she strongly recommends building up one’s credit score in order to be eligible for lower interest rate and more favorable terms. She is a strong advocate for consumer credit counseling for people in hardship. Suze Orman Savings Although Suze has always strongly urged consumers to pay down debt, she has recently taken a strong stance for increasing savings. Because of the economic climate, she encourages everyone to have a savings account holding at least 8 months of living expenses. While she acknowledges that this may be a difficult goal, she believes in taking small steps, such as saving even $50 a month. Suze Orman Retirement and Student Loans Most often when discussing student loans, Suze Orman is directed toward parents that are considering helping dependent children with the financial obstacles of a higher education. She strongly urges that people first fund their own retirement before taking on childrens’ student loans, because a child can take a loan for education, while one cannot take a loan for retirement. She cautions that overburdening oneself with child student debt can be financially crippling in retirement. Use logic, not emotions, when dealing with your money and Suze Orman will be proud!
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