Suze Orman Offers Financial Literacy With ‘the Money Book’

December 7, 2012

Suze Orman Offers Financial Literacy With ‘the Money Book’

You’ve likely heard of financial guru Suze Orman, if not from her popular television show (which ran for 11 years), her motivational speaking gigs, and her many books, then at least from the Saturday Night Live spoof in which Kristin Wigg famously nailed her penchant for crazy blazers, odd speech patterns, flamboyant phraseology, spastic head bobbing, and wide-eyed stares. There’s no denying that Suze Orman, live and in person, is a dynamic character. However, she also happens to offer extremely common sense financial advice aimed at helping the average person earn, save, and spend in a responsible and forward-thinking manner. It is this wisdom, more than anything, that has earned her a legion of devoted followers. And with ‘The Money Book for the Young, Fabulous, & Broke’ she sets her sights squarely on “generation debt”, the current batch of young, broke college grads that are plagued by piles of debt and few options to dig themselves out.

Suze Orman is nothing if not a realist where money is concerned, and she’s not out there trying to convince impressionable 20-somethings that they can squeeze blood from stone. But she does want them to know that they are capable of earning, spending wisely, and yes, even saving for retirement so long as they are financially literate. It’s truly amazing how many students leave school and enter their adult lives with very little understanding of the basics of finance. Most can barely balance a checkbook, much less figure out their credit rating, manage their student debt, and set up retirement accounts. And when it comes to living the American dream, complete with a house, a car, and 2.5 kids, most grads have no idea how they’re going to grab the brass ring when they can barely pay the rent. But Orman has the 411 with sensible advice that’s easy to adopt.

In fact, some of her advice might surprise listeners. For example, those that have had it drummed into their heads that credit card debt is something best avoided might be shocked to hear that it’s in their best interests to use their credit cards, albeit responsibly. In fact, a little bit of credit card debt is practically a necessity these days if you want to build up your FICO score. Of course, Orman stresses that there is a right and a wrong way to go about it. And what she really wants to impart, the real lynchpin of the entire audio book, is that young adults have a card up their sleeve that they won’t have later in life – and that’s time.

By getting started now with building a good credit score, socking money away in 401K and Roth IRA accounts, and having an awareness of cash flow, college grads just starting their journey into adulthood can make the sound financial decisions that will set them up for a stable future. So while your friends are busy living from paycheck to paycheck and scouting online loans you can build a strategy that will ensure you’re taken care of for life. And Orman can give you the functional financial literacy to make it happen.

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