hey I just wanted to say I started watching The Suze (pronounced Suzy) Orman Show about two weeks ago, and so far I like it. Her new episodes are on Saturday night 8pm CT on CNBC. Here's her website too: http://www.suzeorman.com/
She has a segment in her show called "Can I Afford It?" People have emailed her via her website, then they call into the show live. Basically they want to buy something and they have to tell her their monthly income, their big monthly expenses (rent/mortgage/car loans/school loans), amount in savings/retirement, and etc. Then she will either "Approve" or "Deny" their request. Now it doesn't mean they can't go buy that item, it's just Suze's recommendation. Last Saturday's show they actually revisited with a lady that wanted to buy a calf, yes, a calf. Suze "denied" her, and wanted to see if she actually bought one. The lady took Suze's advice, and didn't buy one.
So far I have picked up (hopefully correctly):
1. If interest rates are low, like they are now, don't lock in on a long term investment; keep your money in savings until rates go up, then lock in a long term investment (ex: CD).
2.If you only have enough money to pay one debt and the choice is between your mortgage or your credit card debt, pay your mortgage. If you stop paying your mortgage in order to pay your credit cards, after 90 days your FICO score goes way way down. Then if your home forecloses, and you go to rent an apartment, your FICO score will probably be too low and your application will be rejected.
3.Do Not Ever Ever Ever get a private school loan. Stick with Federal school loans.
4, She likes ROTH IRAs.
5. IF you don't understand what to do with your money then just keep it into savings until you do understand. She's got a great story in her bio on her site about her personal experience with this.
11 years ago
