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| Thursday, June 19, 2008 |
| All of a sudden the actions of the little people matter |
Money Magazine interviews Suze in the article: If you knew Suze Orman... Q. Some critics say all you do is give not-very-smart people not-very-original advice about getting out of debt.
A. I have to laugh to myself when I read things like that. The credit crisis has now dramatically affected the world economy. All of a sudden the actions of the little people matter. If more people had been doing what I do, if we'd cared enough to keep little people out of debt they couldn't handle, the global economy wouldn't be in the mess it's in. So while some may think it's a trite topic Ms. Orman deals with, it has brought down mortgage companies, brokerage firms and everything else. I think people who attack me don't know how much they don't know about making personal financial decisions. If they did, they'd understand the depth of what I do.
I believe Suze has a point here. Plus I was once one of those not-very-smart people who needed to hear that not-very-original advice - I may have outgrown Suze Orman now, but that does not mean she does not provide a service many people need.
- Suze Orman's Books |
| posted by Boston Gal @ 11:42 AM *
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| 7 Comments: |
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Some people never get past basic personal finance. Suze Orman still has her place, which is telling fools not to part with their money.
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I will always <3 Suze Orman. Her advice isn't always perfect, but she seems to really get the relationship between finances and self esteem.
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I guess I've outgrown Suze too, but I still like her. When I first graduated from college 13 years ago, I only knew about checking accounts, passbook savings accounts and student loans. I had to go to basic books to figure out to do with my new found wealth (I was making $50,000 a year!!! I was RICH!!!). I learned a lot from Suze, Beth Koblinger and Dave Ramsey.
Unfortunately, many people never read any of these books and never learn how to get out of debt, save for the future and accumulate wealth.
Paying cash for a car would have NEVER occurred to me had I not read Dave Ramsey. I actually opened my first brokerage account by following the steps that Beth outlined in her "Getting A Life: Financial planning in your 20's and 30's." I went to a lawyer to set up our will & trust and took out life insurance based on advice written by Suze.
We all have to start somewhere - and if our parents don't teach us, it is up to us to learn. I, for one, am very happy I found these sources when I did. Our net worth is well over $500,000, we owe $89,000 on our forever home, have enough cash to cover 6 months of living expenses without tapping brokerage accounts and pay cash for cars and vacations ... how many of these attackers of Suze and other "basic" financial writers can say the same thing about themselves?
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I was also one of those not-so-smart people who needed the repetitive not-so-original advice. I must have read a gazillion pf books (including Suze) before it all clicked. Her advice is very necessary, I'd hate to be in a less 'awakened' financial state during these times!
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I have had my issues with Suze in the past, but I thought this was the first interview where I can say that I really agree with her.
I think part of my problem is that she's a Judge Judy personality strong-arming people with harsh words instead of just rely on the logic of her advice.
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Bronx Chica- Suze Orman is a fave of mine! I love watching her show, reading her books, and hey she was discovered by Oprah. That remark about her is from a person who shows their jealousy.
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Some people never get past basic personal finance. Suze Orman still has her place, which is telling fools not to part with their money.