Skip Nav
Budget Tips
12 Personal Finance Moves You Should Make by Age 30
18 Books That Will Help You Get Rich
Power Your Happy
Unlock the Secrets to Landing a New Mentor

Suze Orman Money Tips

Suze Orman Debunks Money Myths

Before the recession, we were living in a happy bubble, in which real estate prices kept on rising (or so we thought), and Wall Streeters lived like fat cats. Then everything came crashing down — the economic bubble burst, the housing market collapsed, and the big bankers landed on their feet. The truth is, America isn't the same anymore. We have a national debt of over $14 trillion and what once were solid pillars of our nation, like education and social security, are being sacrificed for budget cuts. Yes, we are slowly recovering, but we're living in a different time now. Suze Orman addresses these changes in an interview with Time magazine.

No More American Dream. According to Suze, the American dream was the idea of "bigger, better, newer," and a mentality of "how do you buy stuff without any money?" Credit cards were as easily accessible as candy, and consumer debt kept piling up. But now, Suze says "the old American dream really is dead," because it's incredibly hard to get a loan, mortgage, credit, and jobs. Reality isn't pretty, but it's something everyone faces.

Money Dictates Your Education. You can't go to the best school you get into and worry about paying it off later, says Suze. That's because you don't have the stability of a job offer anymore so if you don't get a paying job after college, you can't afford to pay off your loan. The personal finance expert advises to pick a school based on a loan that you know you can afford to pay off. And yes, this might mean no four year college for you.

Nix Loans to Family. A loan to your family is "either a gift, or it's not," says Suze. That's because your loan will be your family member's lowest priority among other financial obligations like credit card debt, student loans, 401k payments, and more.

Image Source: Getty
Around The Web
Join The Conversation
Barbershop Offers Discounts For Kids Who Read Aloud
Brooklyn School Enforces No-Homework Policy
Signs of Sensory Processing Disorder
Recess Should Not Be Taken Away to Punish Kids
Tennessee Wants to Remove Islam From Social Studies Classes
Kindergarten Homework
Signs of Giftedness

POPSUGAR, the #1 independent media and technology company for women. Where more than 75 million women go for original, inspirational content that feeds their passions and interests.

From Our Partners
Latest Career
All the Latest From Ryan Reynolds