Last night's Suze Orman show
 

Did anyone catch the Suze Orman show last night? I love her show and think she is brilliant. Last night was the most "holy carp" show I have seen of hers. She had a guest on who is $230,000 in credit card debt and her $990,000 house is mortgaged to the hilt. Suze suggested she sell the house, move into a 2 bedroom apartment and sell everything she owns and start over. the woman said NO and she will not do any of this. Her husband brings home 9K a month and they have 19K monthly expenses!!! Holy Carp, I can't believe people live like this.

So, does anyone else love Suze Orman? if you don't know her, check out youtube and see her videos, one of her segments is "can I afford it" where people call up and ask if they can afford a luxury. They tell what they make and have in savings and etc. She tells them if she thinks they can afford it or not.

Wow, I feel a little better about my financial situation after reading about those poor folks. How on earth do you rack up $230,000 in credit card debt???

Anyway, I've watched her before. She's smart and has some great strategies for getting and staying out of debt. She's just a little too "hyper" for me.....after a few minutes I get annoyed and change the channel. She was on Oprah a few weeks ago and I caught a few minutes of it while I was flipping channels. It looked like Oprah was getting a little irritated, too, but that could have just been my perception.

I think she makes most of her fortune through her books and tapes...QVC has started selling them now.

Can't stand her!

It's hard to imagine being in uncontrolled debt, if I got anywhere near that, I'd never be able to sleep!

I can see how it could happen, I have self-imposed limits on all my cards, they hate doing it, but I insist on it. Yesterday a replacement card came for an expiring one and they upped my limit to a sum that's higher than my annual income! Gee, how can people go into debt so easily?:eek:

she's a little gritty to take sometimes but she's so well versed in financial matters that i give her slack to hear what she has to say.
it makes "cents" to me.

i did see it last nite and that family is going to crash and burn soon.
and take their 7y/o with them. what awful values they must be modeling for her.

I rarely watch it because a majority of her "guests" are bozos, imo, but for the most part I do like Suze Ormond.

The things I disagree with her on is that I don't feel she encourages people to pay off their mortgates early as often as I'd like to see. She also isn't as strict on people thinking its ok to take out massive student loans and not work while in school. I'm of the opinion there isn't any "good debt". I do think her message is very important even if only one knuckle head gets it. :D


My favorite book on this topic is Ginger Applegarth's "Wake Up and Smell the Money". I read that when I was in my 20s and it truly changed my life. It is just so important to live within your means.

I haven't used my credit card at all in over a year now. It's strictly for dire emergencies.

I sometimes use a debit card that's linked to my checking account so it's still easy to "swipe the card". I usually stick to cash, though, and only keep enough on hand to cover the necessities. That way I'm not tempted to splurge.

I'm living within my means (don't really have a choice but oh, well...:rolleyes:) and not accumulating interest or additional debt. It feels good.

I cringe when I see all those TV ads for furniture and stuff that you don't have to make a payment on till 2010 or later.....who wants to make payments on furniture that's two years old or older? So many people have good intentions of paying it off before the interest starts but other things happen and they don't do it...and that's what these companies are banking on. They don't want you to pay it off....

I use one card for virtually everything I can, I am on all auto-pay and just make one payment in full each month. That's how I get my free stuff.;)

I have a few other cards that I keep for big-ticket items, I pit them against one another to get terms of 0% when I need something that will take a little time. I only do this when I am certain that I can meet my obligation within said term of 0%.

uh ... I'm with Kelly ... after a while - she does get annoying ...

I have no credit cards - learned to live without ... and am only $15g in debt .. due to losing my job after the dx ... but, heck - I'm okay - it'll all work out ...

I never heard of her??? What station is she on?

Sounds interesting . . . I've never seen her either, but I will watch for her show now.

"Too much of anything is not good for you, everything in moderation" . . . that's my motto.

At times, there was no way I would have been able to pay my daycare or pay my transportation cost to attend my job, or even eat, if it wasn't for credit cards. And . . . there have been times where I could no longer even afford to pay my payments ("creative financing" of using one card to pay another wasn't going to work any more :rolleyes:). That is when I would consolidate, and start all over again.

I didn't use my cards for outlandish "luxuries", but when it came to necessities or opportunity for my kids, there were no other choices at the time. However, I've managed to single-handedly provide for two kids, and they have been able to participate in sports, attend all their school field trips, and have birthday parties because of those credit cards. It was worth the debt at the time.

I am out of debt now, and I'll be back in debt one day. Swings and round a'bouts is just how some people survive.

Cherie

You're really not missing anything..........;)

I have seen her before and she annoyed me. I then laughed so hard at SNL making fun of her. lol She has some good info out there if she'd just stop with the way she presents it. lol

My simple thought for debt, don't do it. If you cannot pay off your credit card in a month or two don't buy it. If you can pay cash, pay cash. Sometimes emergencies do come up and that's out of our control. You then sit down and figure out what to give up to get it paid off as fast as possible. Simple divide and conquer thinking.

It cracks me up to hear people complain about having no money but they can afford a cell phone, internet and eating out. lol These few things can make a world of difference to get out of debt. Turn the cell phone minutes down, revert to dial up until you get the debt paid off and stop eating out.

She is on CNBC. Saturday nights.

Is she abrasive? yes, is she honest? Yes, do I agree with her? Yes, she know's what she is talking about. She talks about having an 8 month savings in case of emergency. She talks about being out of credit card debt, she talks about saving $$

check her out on youtube and let us know what you think.

For those of you who don't like her, I understand, but I have learned a lot from watching her. Like not getting into debt with Credit cards.

Oh man, 8 months? That's about $40g's for me! :yikes:

Seriously?? :confused: I'd be very interested to know how many people have eight months of living expenses in savings (besides Suzy, of course :rolleyes:).

I have about one month and I was feelin' pretty darn good about it...:o Eight months for me would be close to $34,000. That includes everything...certainly not just credit card debt. For me, that's just not gonna happen.

8 months of living expenses for me is $6,100, I have about a 10th of that. It cracks me up and makes me go Whoa when she has people on her "can I afford it" segment that say they want to buy (for instance from last nights show) an $8,000 hot tub. they make $19,000 a month and have 360,000 in retirement and $24,000 in savings, she denied them because they can't afford it WHAT??? yikes, I don't make 19K a year much less month.

I can hear her speaking to me now. "Now, Sandy, listen, "YOU CANNOT LIVE LIKE THAT!" LMAO

8 months. :rolleyes: If I had 8 months of living expenses saved up I might just take a trip. lol

Kelly, mine didn't even include food. lol

MY DH and I wouldn't survive at the moment without our credit card. We don't use it for luxuries.... just food and other essentials.

We have a self imposed limit, otherwise we'd get in over our heads and never be able to pay it off.

We both get $260 pw from our disability pensions, and guess what? Rent costs us $265 pw. That's just over half gone before we buy food, pay our health or car insurance, electricity and phone bills, and any of our car running expenses like registration or gas.

If either of us has to visit a doctor or buy medications, then basically we're out of money long before the pay week ends. There are weeks when we just don't have enough to buy the essentials .... like food. We get by, we just can't eat the way other people take for granted.

So.... yes we use our credit card, but there's no way I would ever use it to buy luxuries like the people you mentioned on this show.

I can't understand why some of your monthly expenses are so high..:eek: Earl's are more realistic as are mine. If i live within my means, my expences are about 1,000 per month. I do have savings, which I dip into for extras, but I try not to do that often.

It's just me now and I no longer have mortgage or car pmts, so that speaks for a lot.

I guess you all must live in very expensive to live places or I'm just too frugal for words..:D

I've been so disgusted with the government bailout stuff, and mortgage crisis.

I think we, as Americans, have driven ourselves into this mess. Yes, banks are guilty, mortgage lenders are guilty, car dealers are guilty, wall street is guilty, but so are we!

When I bought my home, I could have spent more money and bought something bigger/nicer. But I knew my limits, and now I'm 47, have a nice home (5 bedrooms, 3 baths, 3400 sq. ft. 1/2 acre yard, shop in back) that is paid for.

I blame those people that speculated their home was going to go up in value, so they maxed out their credit cards buying furniture with the home equity loan they got right after moving in! I blame those people that bought homes they clearly couldn't afford. I blame those people that skip paying on their mortgages but then kept putting money on credit cards for "stuff!"

Guess whose taxes are now going to get them out of their mess? I've been frugal, and always had excellent credit, and now I get to pay for others lack of responsibility. It makes me angry - can you tell?

I know medical emergencies come up. I've experienced myself. But I only looked to myself to solve the problem! Get another job, quit eating out, get rid of cable tv, cell phones, wear a sweater. But too many just say that is too hard! Take responsibility!!!

Okay, I'm done ranting. I'll just go to work so I can pay my taxes and be responsible for those who cannot!

That's wonderful for you.......however, not everyone has circumstances in their lives that they can control....things happen....and we do the best we can. If my home had been paid for when my DH died things would have been very different for me now.

I wish I could go to work. :( But I don't think that makes me irresponsible.

I'm doing the best I can and not creating more debt for myself. It's a start........

Not speaking for 4boysMom, although I had to check and make sure I didn't write that post ;), but what I gathered was that she/I are frustrated with the people that continue to make poor choices based on unrealistic expectations about what you actually need/deserve to survive. I do get resentful when I see people with houses that are far nicer than anything I've ever lived in expecting to be bailed out.

That isn't pointing fingers at people with unforseen health problems, sick kids etc. Fortunately DH and I have always lived within our means so when MS struck we weren't behind the 8 ball.

Like Sally asked I'm very curious to know what is making some folks monthly expenses so high. :eek: I'm guessing nursing care? I have several years worth of savings but we only spend about $3,500 a month and are blessed with two people that can and are willing to work insane hours right now.

Our monthly expenses include an extra payment on my mortgage. I should have made that clear. My budget has been set to pay off my house within ten years and I refuse to go off budget. I guess I am so used to paying it that I added that into my monthly expenses. LOL Also, we have a huge car payment for a mobility van. Go out and price them, they are not cheap. And yes it was a necessity if Jim wants to be independent and get outside. That will be paid off in April of 2009! Whoohoo! I refinanced it so it would be paid off soon.

Also, some of us have to have mobility products like ramps, lifts, typical disability equipment to live. Anyone out there who is in a wheelchair knows how hard it is to get around and also knows how expensive it is to build for a disability. Some things need to be bought even if they are expensive. My home did cost more than we expected but it didn't cost as much as it would have to remodel an existing home. We lucked out in that this home was already accessible.

I also help pay for my mother's expenses. Just thought I would shed a little light on that. :hug:

remember:: parents do not have to live with you to CLAIM as an exemption when filing your tax return ... if you have to file, that is...

Sandy, I wasn't referring to you, I thought your earlier post was very good! In fact, I wasn't talking about anyone in particular on this forum. Just talking about people and credit in general.

Too many have over-extended themselves, living way above what they could afford, with the idea that it was their right!

I'm with you on expensive medical items and trying to pay off your home early. I'm having to come up with an extra $3,000 for my youngests heart surgery that didn't get paid in-network. An extra expense that came out of the blue. We all have them. But I'll get it paid without outside help. It is my bill, it will get paid.

But that is not what I'm upset about. When we weren't making much money at all, my DH insisted that instead of buying a new car, we needed to put $400 in his 401K monthly. We didn't eat out, got a clunker, made the sacrifice. Okay, so we are dual income no kids now (almost, the youngest is 19 and leaving home in a month), and have more to spend. But we did sacrifice early on to be in this situation.

That is what I resent from those that we're bailing out. No future planning was done. Live in the moment. Deal with bills later. Well, later is now a mess!! Maybe their sacrifice needs to come now. Maybe they need to learn to be frugal, eat oatmeal instead of cereal, spaghetti instead of steak. Use cloth diapers instead of disposable. Put rabbit ears on the TV, all things I've done. Are we really making our best effort to not have to go to the government for help? That is all I'm saying, and I'm not doing this in a specific way, but in general.

:hug: I knew that. I just have this undying need to explain myself sometimes. :p

Hey, that fits with my Type A thread in the multiple sclerosis forum! Been there, done that!!

I am most definately a type A. Hands down.

Oh dear, didn't mean to open a can of worms, with my post. Actually, in retrospect, I think I was being way too nieve...:rolleyes:

I was right with you all for years, when raising a family and getting started. We didn't have much, but, with a little help from Family, at times, we wanted for little and had most of the little, not so affordable, stuff, along the way. :)

I am still wondering why so much money is being spent, but I used to wonder the same thing, when it was slipping through my fingers..:D

If my taxes can help any of you get through the bad times, I will gladly give it...no questions asked..:grouphug:

I thought you were talking about your house taxes Sally! lol I was about to trade you mine if yours were under $4100 a year. hahaha

Ha! If you were truly Type A, you'd have sanitized the surface before you put your hands down!:eek:

I copied this definition from Wikipedia. I am most definitely a Type B.

One well known example of personality types is Type A theory. According to this theory, impatient, hostile people are classified as Type A, whereas calm, laid back individuals are designated as Type B. The theory originally suggested that Type A individuals were more at risk for heart attacks, but this claim has not been supported by empirical research.[1]


All you Type A's......take a http://i283.photobucket.com/albums/k...s/chilling.gif.....everything's gonna be awwwwright. :)

I don't like that definition....it was probably thought up by a Type B...:D

And....I do take a pill!!!

4BoysMom,

I didn't think you were directing your comments towards anyone in particular :) .....I just felt the need to speak up 'cause we've already had a thread here about the bailout and there were some comments and generalizations made on that thread that probably hurt some feelings here.

I can understand how you feel (you, too, Jules) because you seem to be in very good financial shape. I wish we all could be so fortunate.

:Thats-Funneh:

:ROTFLMAO::ROTFLMAO:

Doh! :Doh:

*scrambling to find hand sanitizer*

You guys are all so funny! I definitely don't like that Type A definition. I've never been hostile - in fact my overly helpfulness is what gets me in trouble! I want to do and be everything because I think I'd be the best - at least that is what the PCP said.

Of course, when he told me this, I'd come in for an appt., started crying when he'd look at me with a kind face. I was trying to finish my master's degree, working in a hostile environment (another story for another day) sending my oldest away for a few years (mission for church), volunteering at the olympics in salt lake city, and my hand went numb (didn't know then, but now I know my first flare!!)

I was trying to fix the problems at work (weren't of my making, just everyone else being selfish and me taking the brunt because I was that way! Load it on me - I can take it!)

So hostile, no. But I'm way past all of that now.

Now I'll go clean up the messes all of the teachers have made of my software database. But if it takes me all school year, oh well!!!

I don't put too much faith in Wikipedia's information. That's where that Type A definition came from.

My former boss was a Type A. I think that's why we got along so well....we sort of balanced each other out. He'd freak....I'd stay calm. I even had to sort of comfort him after I got my dx. He was with me at the doctor's office (long, long story) and I thought he was going to hyperventilate! :rolleyes:

That definition fit me when I was a youngin'. lol Now, not so much. But I do get down on myself when I can't fix something. I just have to get it right and now. Oh, and did I mention I am orderly? If it's out of place it bugs the dickens out of me. You know, like that picture hanging on my wall that's crooked?

BRB.