Money can feel like a moving target. One minute you’re saving, the next you’re patching holes. Suze Orman, the straight-talking financial expert, believes a clean slate is always possible. She has spent decades helping people rebuild their financial confidence by turning complex money issues into practical advice. Let’s break down 10 of her most effective ways to reset your relationship with money so you feel secure again.
Build Safety Net First
When debt and savings both need attention, it’s easy to focus only on paying what you owe. However, Suze Orman recommends building an emergency fund first. Having cash set aside keeps you from relying on credit cards or loans when life brings unexpected expenses your way.
Wait Until You’re Ready To Buy
Buying a home is exciting, but it’s not always feasible. You need a stable income, a strong emergency fund, and enough savings for the down payment and closing costs before taking that step. Otherwise, you risk turning the dream home into a financial burden.
Pay Off Credit Cards Monthly
Interest on credit cards compounds month after month, quietly eroding your income. Suze Orman’s advice is pragmatic: cut unnecessary expenses and allocate that amount to balance. Consistent full payments reduce costs over time and reinforce a healthier, more reliable credit profile.
Never Cosign A Loan
Although cosigning might appear harmless, it legally ties your finances to another person’s behavior. Should they miss a payment, the lender turns to you for full repayment. The resulting debt and credit hit can have long-term consequences you didn’t anticipate.
Max Out 401(k) Match
It’s rare to find free money, but an employer’s 401(k) match is exactly that. You can claim it by contributing at least the matched amount. Consistent investing in a 401(k) and balanced planning now can shape a far more secure financial future later.
Live Below Your Means
It’s tempting to spend on things that make life comfortable, right? However, Orman says no. Real stability comes from living below your means. Cooking at home, planning purchases, and tracking spending each help you build savings while still meeting the basic needs.
Separate Wants From Needs
You might think you need something when it’s really just a want. To avoid getting confused, split them into essentials (housing, food, and healthcare) and things that can wait (latest gadgets, outfits). When you understand the difference and focus on your needs first, you’re on the right track.
Check Credit Regularly
Inaccurate credit information can lead to loan denials and higher interest rates. That’s why it’s necessary to review the report annually and fix any errors immediately. Taking a few minutes each year can protect your credit score and preserve financial credibility.
Stop Using Credit For Everyday Spending
You tap your card, the purchase goes through, and the moment feels weightless. This is where trouble starts. Orman’s fix is simple: pay in cash when you can. It turns every transaction into a conscious decision and helps you stay on top of the budget.
Cut Out Hidden Expenses
While automatic payments make life convenient, it’s also easy to overspend without noticing. Just conduct a simple monthly audit—cancel what’s unnecessary and adjust where you can. These small changes are a great start to becoming more alert and responsible about your finances.
