America's Money Class with Suze Orman - Financial Disasters

By Suze Orman

RECOVER FROM FINANCIAL THEFT

Any financial loss is painful. But it can also be the trigger point that helps you take control of your life and build lasting security. We must all take responsibility for the situations we find ourselves in, and at the same time, be responsible for making smart choices going forward. No matter what your financial disaster may be today, a better tomorrow depends on your willingness to take responsibility for your money. No one will ever care more about your money than you. So isn't it time to treat it with respect and confidence?

Workbook: Click here for Suze’s Interactive Financial Theft Workbook.

Video: Watch a real-life money scam, and how to avoid it.

To get in touch with the man that scammed Christine, please send letters to:
Roberto Heckscher # 14400-111
FCI
P.O. Box 3007
Terminal Island, Ca 90731-3007

Tools: Click here for Suze's investment calculator.

Money Lesson: Never make checks payable to anyone but a major brokerage firm or bank. Go online and check your statements directly on the firm or bank’s website. Know where your money is invested.

Published 01/23/2012

America's Money Class with Suze Orman - Financial Disasters

By Suze Orman

OVERSPENDING: WANTS VS. NEEDS

Signs that you are overspending include: You don't have at least 8 months of living expenses in an emergency savings fund. You aren't setting aside at least 10-15% of your gross pay for retirement. Your monthly spending exceeds your monthly income. Recognizing the difference between spending on needs vs. wants is the key to taking control of your spending.

Workbook: Click here for Suze’s Interactive What Can You Live Without Workbook.

Tools: Click here for “What Can You Live Without?”

Video: Watch what $6,500 of clothes and shoes wheeled out look like!

Quiz: Click here to find out if You Are Filling the Void by Overspending? You be the judge!

Money Lesson: If you have more money going out than you have coming in, you are technically bankrupt.

JOB VS. CAREER

The American dream of the last century seemed to promise jobs for everyone willing to work and a paycheck every Friday. That is a snapshot from the past, because we are in 2012 and there are approximately fourteen million people that are out there looking for a job. If unemployment has struck you, ask yourself this: are you searching for a “job” or a “career”?

Workbook: Click here for Suze’s Interactive Choose Your Career Workbook.

Video: Watch Suze explain the difference between a job and a career.

Tools: Click here for Suze’s Advice on Switching Careers
Click here for Suze's Strategy for Finding a Job.

Money Lesson: When unemployed immediately cut back every possible expense AND never take money from your retirement account

CHANGE YOUR ATTITUDE BEFORE CHANGING YOUR JOB

If you are unhappy in your current job, my advice is to take a step back and see how you might be able to make it work for you. The truth that you must face is that in this lousy job market, the job you have is a great job because it is a job. You cannot afford to walk away from any job today without having another job lined up.

Mini Action Plan Reality Check:
1. Your thoughts create reality, so change your attitude to make your job work for you.
2. Think about what kind of response you are getting when you look for another job.
3. If you want to leave your job now, how much of an emergency fund do you have?

Video: Watch Suze answer the question: “I hate my job! Can I quit?”

Suze's List: What You Must Have Lined Up Before You Voluntarily Leave a Job
1. Another job
2. A 16-Month Emergency Fund
3. Health Insurance

Money Lesson: You cannot leave your job unless you have a 16-month emergency fund.

SHOULD YOU GIVE YOUR KIDS AND ALLOWANCE?

Fifty-one percent of American parents surveyed give their children an allowance. If you are one of them, you are making a big mistake and you, likely, don’t even realize it. Beware because you are teaching your children entitlement!

Workbook: Click here for Suze’s Interactive Children's Allowance Workbook.

Tools: Click here for Suze Orman's Four Top Financial Lessons to Teach Your Kids

Suze’s Allowance Ground Rules:
1. Establish nonpaying chores.
2. Never pay for good behavior or good grades.
3. Draw up a list of work-pay chores
4. Make payment a weekly ritual.

Video: Watch Suze explain to America the difference between allowance and work pay.

Money Lesson: By teaching your child to earn the money they receive you are teaching them to be money-wise. They are more likely to become money-wise adults and will respect their money more.

ACTION PLAN

Download: Click here to Download the Action Plan for Episode 3.

Video: Deleted Scenes:

Watch Suze explain how to start a 529 Plan.

Watch Suze share a personal story about long term care insurance.

For Canadian Viewers

This information is for discussion purposes only. It is speculative and based on assumptions that may not be correct or complete. OWN: Oprah Winfrey Network and its affiliated entities and Suze Orman and her affiliated entities do not represent or warrant its accuracy. This is not a legally binding commitment and OWN: Oprah Winfrey Network and its affiliated entities and Suze Orman and her affiliated entities shall have no liability, and disclaim all direct, indirect, consequential, punitive or other damages, for the use of, or reliance on, this information.

Published 01/23/2012

America's Money Class with Suze Orman - Financial Disasters

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America's Money Class with Suze Orman - Financial Disasters