Financial Crisis 101

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Money expert Suze Orman says we should blame the banks for this financial meltdown. "I refuse to believe that it started with [regular people]," she says. "It was the banks and their greed and their deceit of them wanting to make money and giving loans to people when they should have said, 'I'm so sorry,' like they did years ago. ... But instead they said, 'Here you go, little one, take a mortgage.'"

To survive this financial crisis, Suze says we need to stay calm—do not panic by withdrawing your life savings or selling your 401(k) plan. "Don't make mistakes, people," she says. "Just stay calm and understand, as Ali said, 'We're going to get through this.' But only if you make the right decisions for you. You cannot control what others are doing out there, but you most certainly can control your own actions."

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From The Oprah Winfrey Show Oprah Fridays Live with Suze Orman and Dr. Maya Angelou

Published on October 03, 2008

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America's Money Class with Suze Orman
Series Premiere Monday, January 9th at 9/8c

America's most trusted personal finance advisor and best-selling author Suze Orman holds a six-episode money class, tackling the toughest financial questions and revealing the rules for surviving in this volatile economy. Suze will provide real information and essential tools to help viewers get on their feet and take the steps to get their money in control. Suze will also give viewers a chance to win up to $50,000 when they take her final exam at the end of the finale episode.<br /><br /> Each week, Suze delivers a master class on money in front of a live studio audience, answering questions in-person and via video conference, as she offers her unique no-nonsense approach and provides solutions that empower everyone to own their financial future. Some of Suze's topics include, the most common money mistakes, surviving financial infidelity, prioritizing debt, buying and selling real estate, learning to talk about money matters with your family, how to get control of spending, what to look for in a loan and where you should invest. In each episode Suze provides an Action Plan with easy to understand, step-by-step advice for viewers, ranging from debt and retirement, to student loans and unemployment.