Ali says it's going to be a difficult road to get people to stop spending beyond their means. "It is everywhere we look—there's still cheap credit, there's still governments telling us [to] spend our money," he says. "It's going to take a long time to change the entire way of thinking so we can stop spending what we can't afford."

Difficult as it may be, Suze hopes her lesson today is a wake-up call. "Rather than wanting more, more, more, more, why don't you want more, more, more of a quality and valued life?"

Get more financial advice!