Bloggers critique Suze’s big about-face

re: Bloggers critique Suze’s big about-face

L Rocanello-Beeson — Sun, 03 May 2009 02:57:20 GMT

Very interesting blog. I have credit card debt, however, I just put my balance on a 0% interest rate credit card . I have enough money in my savings to pay off the balance but what I will do is pay off the card before the 0% is gone.

What is the point of saving money for retirement if you do not use it for something that is fun. I think that Suze Orman generally does give good advice but I agree with giving thought and consideration to your own situation. And we should all use some common sense !

re: Bloggers critique Suze’s big about-face

iceman — Fri, 01 May 2009 18:56:10 GMT

the guy is 68, when will he ever get a chance to go on a world cruise, whats the purpose of saving it if he cant spend it, next thing you know, he'll die, kids will inherit and call her, and she'll approve them for the world tour.

the guy has enough in his savings, pension, he should be able to go to his world cruise. she's smoking some weird stuff these days. live life to the fullest, he put his dues in for 40 some odd years working, let the man enjoy.

re: Bloggers critique Suze’s big about-face

Dot Tucker — Fri, 01 May 2009 16:37:03 GMT

why are all these families in shelters now? they didn't listen to Suzy and have the 8 mo. emergency fund. My Mom always told us to always have some (Incase money) hid somewhere just( in case) something happened and you need it.I raised three children as a single parent on this theory and am now 72 yr old and still have a incase fund in the bank. YOU GO SUZY Q.

re: Bloggers critique Suze’s big about-face

Rosalie Smith — Fri, 01 May 2009 16:32:16 GMT

I have one of Suze's books and I follow her advice usually. In this case, I believe he should take his wife on a trip but around the world--go to Jamaica instead.

I am 80 and was still working until last October when my boss lost a contract. Hope to pick up another good job soon. I do medical transcription to keep me from going senile. I'd hate to get to the place where I don't know what day it is, and keeping your mind in good shape is the way to go.

re: Bloggers critique Suze’s big about-face

linda petrella — Fri, 01 May 2009 16:29:23 GMT

I agree with suze you can never have enough money set aside for a rainy day, especially now when the economy is hitting the skids. If you want to take a trip that bad, why not just take a small trip and just enjoy that, istead of thinking that the only way to take a trip is to spend losts of money, especialy if you are retired. Remember this is all the money you have and you do want to make sure that it is going to last you unti you die. How long do you think $250,000. will last you anyway?

re: Bloggers critique Suze’s big about-face

Kelly — Fri, 01 May 2009 16:23:41 GMT

Start listening to Dave Ramsey. He's the only one out there with sound money advise and he doesn't try to sell you anything but common sense!!!!

re: Bloggers critique Suze’s big about-face

Barely in Business — Fri, 01 May 2009 16:23:26 GMT

Orman's advise is very sound about the credit card situation....we have flawless credit and as soon as we pay extra towards our balance they are taking away that available credit. We are still barely in business and have a few months reserve and I really wish I did have that 8 months reserve now!!

re: Bloggers critique Suze’s big about-face

Angie — Fri, 01 May 2009 16:18:10 GMT

J.D. Roth at Get Rich Slowly has said, a credit card is not an emergency fund.

so darn true doing that is what has gotten so many people in the mess they are in now to begin with ....

re: Bloggers critique Suze’s big about-face

Sherry Brown — Fri, 01 May 2009 16:10:08 GMT

Whether you pay off credit cards or not doesnt make a bit of difference if you lose your job. I was employed at the same job for 20 years and the business closed and unemployment wasnt enough to lve on so guess what i lived on credit cards. I will never in my life time be able to pay back what i owe on credit cards so guess what my next step is. i dont qualify for a big sum of money to bail me out so i will take bankruptcy and try to start over. i recently got a job but with a decrease in pay but just thankful for a job.I would like to qualify for some bailout money but we must keep bailing out banks and car dealers and giving out big bonuses.

re: Bloggers critique Suze’s big about-face

liz1181 — Fri, 01 May 2009 16:05:56 GMT

Frankly, I think Suze Orman is right. I live in a state with an overall reported unemployment rate of 12.6 percent. Real unemployment is over 18%, and there are cities in this state with over 20% unemployment. Prospects pf finding another job after the almost inevitable lay-off are grim, and the hedge fund owners just keep making the situation they created worse. I believe the next wave of economic disaster will be in the form of bankruptcies for all those unemployed workers. It makes perfect sense to pay the minimum and save whatever cash one can put together for food and shelter in the event of llayoff. It is not just factory workers who are being affected by the crash of the American auto industry. Several midwestern states have city and state budgets that also can't be met because there are no employed people to contribute to state income, and no manufacturers left to tax.