Suze Orman advises musician against buying $6,500 French horn due to financial instability.
From Yahoo Finance: 2025-03-26 10:50:00
Suze Orman advised a young musician against buying a $6,500 French horn, stating he couldn’t afford it. Michael, 28, believed the new horn would help improve his skills, but Orman questioned his reasoning. His stable but limited finances included $2,942 monthly income, $2,000 credit card debt, $6,600 savings, and $16,000 retirement savings.
Orman warned Michael of the financial risk involved in buying the horn, as he would need to dip into savings or future income. She emphasized his lack of emergency funds and reliance on benefits, denying his purchase. Michael hoped to improve his financial situation soon and invest in CDs to cover the cost.
Orman advised Michael to focus on paying off credit card debt and building a stronger financial foundation before making big purchases. She stressed the importance of financial stability over immediate gratification, suggesting the French horn could wait.