Suze Orman just plain scares me. I'm not saying shes a bad person. After all the sub prime mortgage mess and crappy economy shes starting to get more and and more media attention as the "It" financial guru to help solve your financial problems. She's definitely made it since she makes frequent guest appearances on Oprah.
I've watched the way she helps people in financial trouble. First she berates them and yells at them like some rabid drill sergeant. Then she gets all nice and tells them she really cares with a sprinkling of financial advice such as, "Don't spend beyond your means" "Cut up those credit cards" "Don't eat out too much" "Pack your own lunch" "Take mass transit".
I'm not a financial genius, but arent' those obvious answers? Hell why am I not on Oprah? I could've given those same advices and I could've expensed them nicely.
Maybe she truely does care. But after watching Suze Orman hawking just one of her many financial advice products I started to wonder. She was hyping some kind of record keeping system with a plastic folder that protects your important documents from such damages as a house flood. No I didn't see the whole product but I was laughing. Why was I laughing? Because people are losing their homes. There is no basement to flood.
I'm starting to think that maybe she's helping herself out more than she's helping others. She's got to. How else is she going to keep up that year round tan?
Seen her so many times surfing from cnn to msnbc and back. However never stopped to listen to a word. So can't help you there. But sounds like you got the right attitude.
I have seen her many times. She has a sound knowledge about financial products. Her advices are valuable, a must follow in the present situation.
She was in the right place at the right time. If the world economy had been just jolly at this moment, most people would probably not think as much about her books. I have never driven and people used to tell me how much money I would save if I had a car, but now those same people are telling me I am so lucky that I do not have a car because I save money. What changed? Just the prices in gasoline. So if you happen to have written many books on the subject and have a public persona, being in the right place at the right time can work well. Orman has some good solid advice, but I would suggest checking her books out of the library because that goes with the theme of not paying extra. Conversely, however, we must keep in mind she makes a living by selling lectures, videos, and books teaching others how to save money. Not that there is anything wrong with that, but this is why I would recommend checking her books out rather than purchasing these volumes.
She is a little "scary" just because her confidence seems a bit over the top-- But if you do listen to her, it is hard not to agree with her advice. Yes-- it is basic common sense, which seems to be far too uncommon.
I don't watch much TV so my experience of Suze Orman is mostly from her books, which are really informative. If you need a solid foundation for personal finance, her books are a good resource.
As for her personality, she has been successful for so long, perhaps she is losing touch with with the part of her that needed to become who she is today. Just a thought.
Yes, She was right, she is and probably she will. Her common advises are so uncommon for the Americans but it is very common for the Indians who believe in saving in good times.
Suze Orman she has a very nice knowledge about finance. I am also interested in finance field i read articles and contents written by such experts. These contents and articles helped me a lot in my stock trading. Most of the articles which i have read say that when you opt to invest in stock trading or any other trading business keep patience. The money you have invested will give returns. But to an extent if seeing loss increasing clear your positions but cleverly.
This was also told by my broker when i opened a real account and started trading one of the employee from my broker AVAFX told me keep patience while you trade,
She was OK a few years ago, when she was doing seminars on PBS and writing books. She's really changed--and I think she's got deals with either credit card companies or other entities. I know she's bashing Bush right now for the financial crisis, and who knows, maybe she is right. I just can't separate the fact that she's got other interests and reasons that she's saying what she's saying.
I don't know what to think of her at this point, but I've suspected that she's representing the credit card companies too lately.
For people with huge amounts of unsecured debt who are in trouble with it, the pay down the biggest interest card on down advice is bad advice. Dave Ramsey gives better advice for people in real trouble.
People who aren't in trouble don't need advice.
I've seen her in action a few times on Oprah (I've come out of the closet) and I was quite impressed with her. I was in banking for years myself and a Manager until I saw the light. I would give similar advice to my own clients.
From what I've seen, which is not a great deal as I don't get much American TV, she is firm and the advice given for those who have already lost jobs and are in debt - well it's a bit late and therefore probably useless. But I can understand her firmness. I personally was aghast at the level of debt given to people who clearly couldn't afford it. You can blame the banks as being irresponsible lenders, but geez, common sense by the borrower would have been a big help.
Consumerism is like a cancer, the whole consumer conglomerate lure people to WANT stuff they either don't need, or can't afford, and there is little thought for affordability - not really, really truly.
The debt stacking is not a new one and it is either amortization by getting one loan to pay all - which no-one can get in US because no bank is lending because your house is worth less than the debt, or you try to get rid of the most expensive credit source first. Which would be okay if you had a job to do that.
I'm not sure about the people who are not in trouble not needing advice. Millionaires are now broke, so perhaps debt reduction in the first place may have safeguarded their assets.
Common sense didn't seem to apply when everything was rosy and stocks were stable. And buying now, pay later only works when you can actually pay it later, which the Banks didn't safeguard, nor did the consumer. I liked her frankness with people seeking advice - if you can't afford it don't buy it. Couldn't agree more.
How dare you Jewel! It's ALL bank's fault!
For the record - I am not too fond of this woman, too, you can find her advice in every entry level personal finance book, and heck, it does not apply to the current state of economy...
LG, she is personal finance talking head, pretty popular on that side of a pond
She drives me crazy too. Not only does she encourage using debt (albeit less debt), she comes off as 'fake' or shallow.
My girlfriend and I are avid fans of Saturday Night live. While we were watching it this year we noticed on repeat character which was a talk show host who wouldn't shut up about her jackets and how she could afford them.
Not knowing the reference we thought little of it.
Then we came across her show.... wow. we watched it like it was a train wreck in slow motion. People phone in for some stranger to give them a thumbs up on purchasing decisions?
We had to run as soon as the first commercial break came.
BTW I saw on the news the other night that credit card defaults in the U.S. were at 21 million for all of 2007, but for 2008 for the fourth quarter alone they'd hit 68 million.
True. And Gretchen Morgenson wrote in the NYT a couple of days ago that quite a few tax free municpal bonds are in trouble. Or rather the communities who issued them are in financial difficulty and in danger of not being able to pay the interest. When the issuer faces financial difficulty they are required to issue a "distress letter." Distress letters have doubled in the past year or so. Morgenson points out that many of these shaky municipal bonds are trading at par, i.e. 100 cents on the dollar. This means that brokers aren't doing their job of informing bond buyers of the distress letters and buyers of the municipal bonds are paying much more than they should for the bonds or, better, not buying them at all. Just another little detail overlooked by the crooked hogs on Wall Street!
Here's a link to Morgenson's article entitled "Fair Game"
Holey Moley. Great article.
It's hardly surprising that municipal bonds are in trouble OR that they are being overvalued. Look at how fast and how badly city tax bases are eroding right now. When property loses value, the city loses money, When people aren't working they can't pay their property taxes anyway. When businesses pull out, more money lost. Foreclosures? Bye bye $$$$.
That's the irony. It's all reduced to stupid people and their stupid credit cards in the press but it's so much larger than that.
Suze is dominating, no doubt. however, can one deny her advises without risking one's financial health?
Just found out that Dave Ramsey has replaced Clark Howard on one of our local AM stations....not that I like or listen to the station much anyway, but I was disappointed to hear it.
Orman & Ramsey are from the same mold, to me - "common sense" advice that most people ought to know, but they are making big bucks regurgitating it. But I haven't listened to either lately, so maybe you are right, Pam, that Dave has better advice for people really in trouble. Still...I like Clark lots better!
I can't stand any expert on finance, especially her. They should all quit and lose their jobs. All one has to do is listen to their grandparents. Don't spend what you don't have. Earn what you can. Save what you can.
Thank Gawd! I mean, would you DATE her if you were a man? or even a lesbyterian?? I think not. The woman is so full of doom and gloom and rules and all the scolding that I picture her with no makeup, in a nun's habit and carrying a ruler to my seat where she raps my knuckles because I dared to give a positive response to her 'sky is falling' questions...Sister Mary Obnoxious.
Who in the HELL does she think she is...all the way to the bank??
KK (one/half of The Midlife Gals)
She is gay. LOL But probably in bed with credit card companies.
And like I said, she's really changed. Gone over the top for prime time or something. She used to be a little more serious a few years back when she was on PBS and came out with her first books.
Am I the only one that likes her? The reason she keeps proclaiming the same simple advice is-- that WAY too many people just don't get it.
Ok, perhaps she overdramatizes, but obviously she is trying to get the attention of people who are just oblivious to their own mistakes.
No, I don't want to date her. I don't want to date my financial adviser, banker or dentist, but they are all good at what they do.
For all those who get a cold chill when Suzie gives advise, I'm right there with you. I can't even watch her any more. When she opens her mouth she constantly talks out of both sides!
Sorry, I'm going to have to pull a Simon on this one and say she is HORRIBLE! So many other great advisor's to listen too.
Amen to that. I can't stand to her that women talk. She is more of a sales women then anything else.
Eh I don't like her, I mean 95% of the stuff she does talk about is common sense I guess people lack in that. if you have the money you can buy it if you dont then dont. HELLO its not hard lol its the reason why we are in such a mess with debt anymore and stupid credit card companies everything in the us is some Credit we mid as well just look at it as a futuristic movie or game where we earn credits for working etc instead of cash lol
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