Monday, February 6, 2012

Money Monday: Why I Love Suze Orman

There are a million self-proclaimed experts out there offering advice on personal finance. Suze Orman is one of the juggernauts for good reason. She’s whip smart, tells it like it is, and most importantly, she has street cred because she’s been at the bottom before – living paycheck to paycheck with big dreams and no financial security.

My favorite Suze story – early in life, she trusted a big name brokerage firm to handle her money and lost everything. Then she went to work for that big name brokerage firm – if you can’t beat ‘em, join ‘em, she figured. While there, she realized that the agent who had lost all her money was a sketchy crook, so she sued the company she was working for! The company settled out of court, which is a win in my book.

If you’re a struggling artist who thinks Suze’s mainstream personal finance advice doesn’t apply to you, think again. She’s the perfect person to help you get your financial life into shape. She gets that people are emotional about money and that to achieve financial security and wealth, you need to look at your emotions first. And if there's anyone that understands the importance of being in touch with your emotions, it's actors.

Her biggest catchphrase – People first, then money, then things.

Notice how “things” is the lowest on the priority list? I discovered this first hand with my No Buy Resolution last year – I didn’t buy any things and life went on just fine. In my opinion, if you have financial security and feel you and your loved ones are well cared for, that’s wealth. Owning a big house, driving a fancy car, and dropping $590 on one sweater – that’s just stupid.

Bottom line, Suze Ormanis a smarty pants who can teach all of you a thing or two about handling your money. If you’re new to Suze, I suggest starting with the free weekly podcast of The Suze Orman Show. Start watching and you’ll not only learn something, you’ll be wildly entertained. (I love hearing her say, "DENIED!")

If you’re just starting out and looking for some nuts and bolts advice, I suggest reading her book The Money Book for the Young, Fabulous & Broke.Pick up a used paperback from Amazon for less than $5! Now that's smart...

1 comment:

  1. Suze gives some pretty good general advice but each person's personal circumstances alter cases and had I followed some of her advice blindly (like many do when it comes to financial talk show people), I'd be in such serious trouble.