January 8, 2009

Suze Orman and your money

One of my resolutions for 2009 specifically is to make a large dent in my debt and to start saving money. I actually sat down and added up all my debt yesterday and saw what I have in credit card debt.....which isn't really unbelievably bad compared to most people out there, but still...my eyes widened. It wasn't so shocking that I had a heart attack either, instead it made me more determined than ever to pay them off.

I admit that I've had 2 cards for the majority of my adult life and they've had pretty high balances due to college and moving. I will admit that I almost regrete getting 2 additional cards in the past two months and charging them up high.

It's okay. I'll never be one of those people who charge $50,000 on credit cards. But I used the 2 new cards to buy things we needed for our life and I don't regrete THAT. I always use credit wisely and never go over a point where I can't pay it back.

On a related note, I'm not an Oprah watcher, but I happened to be flipping through and saw that Suze Orman was on today. I really like that lady. She gives smart, real-world financial advice that simple to understand and straight-forward to put into action. I bought her book Young, Fabulous & Broke in December, but have yet to crack it open. I will definitely be reading that next.

That being said, on Oprah today, Suze Orman was discussing money plans for 2009--specifically in this bad economy. The cool thing is that you can download her entire new book on Oprah's website! Suze Orman's 2009 Action Plan

Check it out if you are interested. Among some of her plans, she recommends that you start working toward building an 8 month emergency fund (8 months coverage where you can pay all your monthly expenses). At first I almost choked, but it's smart advice. In her book she says even if it takes you just 6 months or a few years, you'll still be better off every month you save then you were before. Good advice. (-:

If you are interested in the book, download it soon because I think it'll only be up free for the week.


  1. I love Suze Orman, too. She does gives out really great financial advice. I'm glad you watch her show. :D

  2. That money saving can go toward your new Cadillac. :D