Summary: Financial expert Suze Orman shares honest money tips for building wealth and financial freedom.

From Yahoo Finance: 2025-04-19 09:01:00

Financial expert Suze Orman is known for her no-nonsense approach to personal finance. She recommends having at least eight months of living expenses saved for emergencies, more than the standard three-to-six months. Orman also advises against credit card debt, recommending cash or debit cards over credit cards to avoid high interest rates.

Orman suggests setting up automatic deposits from your checking account into your savings account to save regularly, regardless of the amount. She also encourages saving and investing for retirement as if you will live to be at least 90, emphasizing the importance of compound interest and long-term investing strategies.

For those carrying credit card debt, Orman advises prioritizing its elimination and negotiating with debt collectors if necessary. She stresses the importance of monitoring and adjusting your investment portfolio regularly to maintain your desired asset allocation. Orman’s practical, straightforward advice aims to help individuals build wealth and secure financial freedom.

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