Suze Orman: 11 Money Secrets They Don’t Teach You in School

Suze Orman is one of the most famous faces in finance, and America’s self-proclaimed Matriarch of Money. She writes on her website that she learned the value of a dollar in college, where her first jobs allowed her to pay for school. During her freshman year at the University of Illinois, she worked seven days a week in her dormitory’s dish room. After college, she and some friends lived out of a van in California and earned $3.50 an hour clearing fallen trees from roads. Eventually, she settled into a waitressing job at a place called Buttercup Bakery, where she worked until she was 29.

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Suze Orman is one of the best-known personal finance experts in America. She has 10 consecutive New York Times bestselling books under her belt and a lengthy career in media and television. What truly sets her apart from the rest, however, is her no-nonsense approach to money.

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Orman has strong opinions, and she isn’t afraid to share them whether on TV, her podcast or her blog. But, underneath the big personality and one-liners is a true commitment to see people succeed with their money. Her mantra is, “People first, then money, then things.” Here are 11 of her top money tips that you won’t learn in school.

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Generosity

“True generosity is an offering; given freely and out of pure love. No strings attached. No expectations. Time and love are the most valuable possession you can share.”

Orman believes in giving and generosity. She advises her followers to only give if they are financially able to. If you can’t afford to give because you’re behind on bills, Orman says to donate your time.

Student Loans

“Keep [your] total borrowing (undergrad and grad combined) to no more than [your] expected first-year salary.”

Orman is concerned about the growing student loan burden, and she wants to make sure her listeners don’t take on more than they can handle.

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Mortgages

“Please be very careful in making your mortgage choice…If you think you can’t afford a fixed-rate mortgage, I am going to ask you to stand in your truth.”

There are many different types of mortgages, and Orman wants her listeners to be well-informed before choosing one. She cautions that although ARM mortgages seem like a more affordable option at first, you have to be financially able to handle it when interest rates change.

Spending

“No spending [what] you can’t pay off in full when the bill is due…Gifts are a want, not a need. If you can’t afford to pay off a credit card in full, then that is money that shouldn’t be spent.”

Only spend what you can afford is one of Orman’s key messages. She even encourages her listeners to skip buying gifts for others if it puts them in a worse financial position.

Well-being

“Your best investment is in taking the best possible care of you.”

Although investing in the market is important, investing in yourself is more so. Orman knows that so many people are stressed, and encourages women especially to take daily time for themselves.

Money Mindset

“If you really want to be powerful in life and manifest what you want in the future, your words, your thoughts and your actions have got to be one.”

Managing money is more than just the numbers. To become powerful, Orman says it’s important to have a positive money mindset and make sure your actions are aligned with that mindset.

Marriage and Money

“Love does not mean saying you trust someone to do what is smart and right…Failing to be involved with your money is a mistake that will cost you so much.”

Orman is an advocate for women. She stresses the importance of women being actively involved in their finances.

Investing

“Investing is not a game.”

Investing has become more accessible than ever thanks to the proliferation of new fintech apps. While that can be a good thing in many ways, it can also be risky. Orman cautions brand-new investors of treating the market like a game. Rather, she encourages her listeners to take their time to learn about investing and pursue long-term wealth-building strategies through a diversified portfolio.

Debt

“When you owe money, you pay it back. It may take you a long time. It may mean making sacrifices elsewhere in your life. To not honor your financial obligations is not just a powerless money move, it is an act of personal failure.”

Orman believes in paying back what you owe — not finding ways to get out of paying bills in collection.

Emergencies

“The more you have saved in your emergency fund, the better prepared you will be to deal with whatever the economy throws our way.”

We’ve been through an unprecedented global emergency the past few years. Now more than ever, Orman reminds her listeners that having an emergency fund is vital.

Credit Cards

“Though a credit card record is a vital part of building your credit score, as I mentioned earlier, the goal should be to use it as sparingly as possible.”

Orman understands that in order to build credit, consumers need to have credit cards. However, she’s against using them frequently due to their high interest rates if people can’t pay their balances in full.

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