Suze Orman Says to Protect Ourselves in this Economy
Last week, Oprah had Suze Orman on her show talking about this economy and what we can do to protect ourselves. Anyone who’s ever seen Suze Orman knows that she’s a straight talker and uhh, how should I say this, a little scary. To tell you the truth, I don’t think I would want her as MY financial advisor because I couldn’t handle being face-to-face with her looking me in the eye asking what I spend my money on. (I know where my faults are and don’t need a lecture on it.. or do I? lol) But I understand that Suze knows what we need to do to become financially secure and even wealthy, so I take her advice to heart! Most Americans are spending money that we don’t have and there are many ways that we could cut back. We make excuses to hold onto the things we can’t afford and the time has come to “save ourselves” as Suze says, “and save our children to make sure they have the essentials of life… such as health insurance, and not just THINGS.”
To protect ourselves in this economy we’ll have to downsize, tighten our belts and change our ways. We’re going back into a cash economy because there will be no more credit for some of us and for others, the credit we do have will be lowered and watched carefully. The institutions we’ve been borrowing from have been borrowing money to give us the loans, and they’ve been borrowing their money, and no one ever really had the money to back it up. We’ve been living on borrowed money for so long that we take it for granted and hope and pray everything works out. It’s time to get REAL and save ourselves from financial ruin because hoping and praying can’t pay the bills. We need to become proactive to survive in this economy.
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