I’ve been a Susie O . Follower and she’s helped me be what I am today . Retired at 58 and house paid off no credit cards . Living life !
@nancymoore8250
10 ай бұрын
I have always followed her practical methods. I got out of debt, paid my house off before i retired ... have my savings in CD's earning 4%, fixed annuities earning 4%, and money markets earning 4.5%. Vehicles were paid for long ago. Thank You Suzie👍🏼😁 (from a financially secure 67 year old widow.)
@pauladam8918
10 ай бұрын
I agree I lease cars and never put a dime into repairs while my friends dump thousands of dollars in their used cars
@Bassdrumguitar
10 ай бұрын
@@pauladam8918You're not telling the truth, in other words, you're lying. I've had a car since I was 16 years old, always buy them 2-4 years old, am in my 60's now and all I do is change the oil when it's time, $40, brakes every 3 years, and a yearly checkup and that's it. I usually get rid of it after 4 years having spent next to nothing, so where's the thousands of dollars? You're saying that to make YOURSELF feel good. Yes, leasing is a waste of money and all you're doing is renting the car, period. Can't drive it over a certain amount of miles, afraid someone is going to scratch or dent it and YOU have to pay for it, etc, so it's a total waste of money.
@chuck1011212
10 ай бұрын
@@Bassdrumguitar So since you don't keep a car for more than 4 years, you essentially lease the car as well. You technically purchase a reasonably new car and then resell it after a few years. Thus you take on liability doing that as well. You also likely save nothing vs leasing a similarly reasonable car since you are always either making payments or coming out of pocket a fairly large amout of cash that can no longer earn you interest. Your resale or trade in are impacted by the same items you mentioned in your reply to paul. Too many miles, less vehicle value. Too much damage, less vehicle value. In either scenario, a car is a depreciating asset that you pay for. Leasing or buying, you waste money. Wanna really save money? Move to a location where a car is not needed. Thus you save on every aspect of car ownership. For me, I will avoid car ownership in a city in South East Asia. Added bonus, rents are affordable there too. No need to call anyone a liar. We all have our own experiences.
@GnosticCushite
10 ай бұрын
@@BassdrumguitarExactly. Leasing a car is plain STUPID. I own two used cars and all I do is get the oil changed every 3,000 miles.
@Bassdrumguitar
10 ай бұрын
@@GnosticCushite EXACTLY! Don't know what universe that person lives in 😀. It doesn't cost thousands of dollars to maintain a used car. I'm with you 100%.
@MikhailKalashnikovMiG
10 ай бұрын
She actually does really good work. So many people lack financial literacy and she doesn't sugercoat her words when she tells people not to splurge their money on frivolous items.
@ronaldmason7053
10 ай бұрын
Check out the video on her debit card. It was a consumer rip-off with fees of over $30 a month and was never recognized by the major credit bureaus.
@bobbear4437
10 ай бұрын
except on this she's isn't totally right, sometimes leasing is better
@CrystallyLavender
9 ай бұрын
Exactly!! 👍
@CrystallyLavender
9 ай бұрын
@@ronaldmason7053over $30/month on fees?! 😮 Can’t believe there are actually people that would be so financially unwise as to even consider using something like that.
@gg80108
9 ай бұрын
Everyone spends money on things someone else thinks is a waste!
@ms.j9693
10 ай бұрын
I have been telling ppl about her for years!! She's why I pay my cars off and working to get my house paid off so I'm set for retirement!! ❤her!!
@upminer6162
10 ай бұрын
Must not be planning on a long retirement if you think your "paid off" car will last for all of it😂
@CrystallyLavender
9 ай бұрын
@@upminer6162you totally missed her point. She’s just saying that she doesn’t owe any debt and is on track to go into retirement because of it (other than still needing to pay off her house). Since it’s common sense that you won’t be saving as much for retirement whenever you have any kind of debt. That has nothing to do with her thinking that she won’t ever need to replace her cars.
@indranidasgupta8982
10 ай бұрын
My takeways: 1) don't buy a home if you're over 60 and are not filthy rich and cannot pay it off within two years (also, remember the taxes -- they never go away); 2) make sure you have a will; 3) finance your car but don't lease it; 4) get term life insurance, NOT whole life; 5) save something out of your paycheck. 6) pay down your credit card debt and keep it that way; 6) money market etc -- save it there.
@rochellemcdonald9646
10 ай бұрын
I wasn't paid to stay home during the pandemic. I also made minimum wage during that time. I'm sure there are lots of people out there, like me, who aren't spending like there's no tomorrow.
@tbprofile1295
10 ай бұрын
👍
@jameswillard1
10 ай бұрын
Yeah, I get tired of hearing how everyone got rich during the pandemic when literally every single person I know that wasn’t a multi millionaire to begin with didn’t benefit financially to any significant degree
@CrystallyLavender
9 ай бұрын
@@jameswillard1not sure what you mean by people getting rich during a pandemic. Where’d they get all that money to get “rich?” How do you get rich just because you spend less? I think you’re referring to how people saved up a lot more money during the pandemic because they couldn’t really spend their money anywhere. Saving up more money isn’t the same as getting rich.
@abvincent12
10 ай бұрын
There's a reason we don't teach financial literacy in schools - the big money doesn't want you to understand wealth; they want you indebted for the rest of your life so you have to work to pay them while they ensure your wages never increase. If we taught children how to avoid this trap how would they retain their power and wealth?
@wholeNwon
10 ай бұрын
There are pills for paranoia now.
@yvonneplant9434
10 ай бұрын
People don't really seem to have much common sense. So that's a factor.
@oldrrocr
10 ай бұрын
as a "well-off" guy, who did it the hard way (almost), you are RIGHT. I always recommend studying the life of Warren Buffett... but few people take that advice. Their loss.
@lpg12338
10 ай бұрын
Well said, if you are debt free and don’t chase the next fad, then you can live a stress free life with no strings. 👍
@richarddixon7855
10 ай бұрын
In our state, a Financial Literacy course is a high school graduation requirement. It was instituted immediately after the economic crisis of 2008-09.
@5rodan5
8 ай бұрын
I've followed Suze Orman since her CNBC days and living a blue collar debt free life is attainable.
@IamDrDee
10 ай бұрын
I'm grateful that I had the opportunity to teach personal finance at a Catholic high school for three years. I know most of my students will make good financial decisions.
@ginam3862
5 ай бұрын
She’s made some very good points. I drove my car for 20 years, no payments! Saved so much money we were able to pay off our mortgage early, and now I can pay cash for a car if I choose. For as little time I spend in my car, it was worth driving my old car with no payments and money in the bank. My choice and I can’t wait to retire without debt!
@kimappreciateslife
4 күн бұрын
Same here! My car will be 23 in Feb 2025
@kimappreciateslife
4 күн бұрын
Suze is the mother I needed growing up. My mom had an addiction to spending and only paid the minimum balance on her many credit cards. I thought we were wealthy because we had a big house and lots of fancy stuff. My friends were jealous of me. I later found out that my “Silver spoon” was actually silver plated! Now I’m teaching my kid to the best of my ability what Suze is teaching us.
@deanalbertson7203
10 ай бұрын
Buying a car is usually best. You can pay it off, own it, and drive it a long time without a car payment.
@punksjutgbd
10 ай бұрын
But I don't want to own it.
@amydearing9866
10 ай бұрын
I bought one of her books when I was 27. I'm now 43 and am financially in good standing because of her.
@marcellussaunders4200
10 ай бұрын
Bad advice on car leasing. Why pay for 100% of a car when you can pay for only 40% of a car with a new car warranty (high resale cars like BMW) over 3 years, turn it in and get another new car and only pay another 40% with a new car warranty. 6 years 80% and 2 new cars or 100% and be driving an old car with no warranty and lots of miles. Why have your money sitting in the driveway when you can invest the difference? Remember…..a car is a depreciating asset……there is no value to having a car paid for.
@captlazer5509
10 ай бұрын
Have a truck I've maintained for 20 years and paid it off in 3 yrs with at the time zero interest. Best vehicle purchase ever. The resale value on solid rust free used trucks is through the roof.
@avalagum7957
10 ай бұрын
Not paying off a mortgage to have tax reduction is the stupidest thing in this country, IMO. Reason: when you don't pay off a house, you need to pay the interest with your after -tax money. You don't have to pay tax for the amount of money you pay for the interest. However, remember that you have to pay tax for the money you don't use to pay the interest. So if you pay $10k a year for the interest, you save $3k (30%) in tax. That means for every year you still have a mortgage, you lose $7k. Leasing a car is ok only if you have money to throw away. The advantage of leasing a car: you drive a new car every time you use it, no need to take care of it (after 2 years of having the oil changed for free, you don't need to change the oil as you have only 1 year left with that car). However, you can't spend a lot of time driving your car because of the 12k-mile cap. Then why do you care if you drive a new or an old car when you spend only a little time with it?
@Neimfeltrite
10 ай бұрын
Just as many high schools have foreign language electives, every high school should also offer finance/money as a language. The management of money is a universal language. In all honesty, it should be a requirement to graduate.
@wholeNwon
10 ай бұрын
Absolutely right.
@elingedgar
10 ай бұрын
The problem is there are not many teachers with money knowledge anyway. :(
@Thea-gj2or
10 ай бұрын
@@elingedgarI was going to say something similar. The average money manager under performs the market and they are the supposed pro's.
@Neimfeltrite
10 ай бұрын
@@elingedgar Accountants usually have degrees which is a prerequisite to be a teacher. And there are probably a lot of them out there who wouldn't mind some steady work, teaching kids. I'm not suggesting the teacher shows kids how to hedge the market, but instead teach them the fundamentals of how to manage, invest, credit scores, risk/reward, historical achievements of accomplished figures and the significance of saving.
@dianagross8784
10 ай бұрын
Leasing a car is not always a waste of money. Lower monthly payments and you can negotiate to purchase at the end of the lease. Write off if you use the car for work. Not stuck with the car if you don't like it as many dealers will exchange it for another vehicle. If you are going to purchase a car buy a 3-5 year old vehicle not a new one
@mufflejoy
10 ай бұрын
It is true that there are some benefits of leasing as you note. They are however not free of charge. Buying a 3-5 year old car is excellent advice.
@alananderson7903
10 ай бұрын
Only losers lease. That's why both words start with the letter "L".
@bradgoldman9578
10 ай бұрын
@@alananderson7903Was your demeaning comment really necessary? There are some in a position to lease a new car. Does not make them losers.
@christopherlewis428
10 ай бұрын
The last car I had I financed. The MSRP was $25k. After paying the sales tax, the extended warranty, dealer processing fee and the finance charges for the loan the total finance charges came up to $32k. Add on an additional $6k for maintenance and repairs. I paid the car off in 4 years and when I decided to trade the car in, I went to three different dealerships and my highest offer was $5k, after I kicked out $38k😂. Never again
@KabobHope
10 ай бұрын
Leasing a car in 2017 was a good deal. The buyout in 2020 was a great deal for the consumer.
@jcs3330
10 ай бұрын
Paying rent is also a waste of money...lining someone else's pockets with gold and giving them the lifestyle that you wish you could have if you were not. But unfortunately this is how bad things have got.
@CrystallyLavender
9 ай бұрын
Yes, paying rent is a waste of money. But a lot of people just can’t even come up with the down payment. I’ve been fortunate enough to not have that problem, but lots of people that really want their own home just can’t come with the initial down payment.
@jcs3330
9 ай бұрын
@@CrystallyLavender I agree. As previously stated 'unfortunately'.
@Cathy-xi8cb
6 ай бұрын
Wealthy people in Manhattan rent and take their money to the stock market instead. They do just fine. Renting in a rural area is a terrible idea. Renting in SF or NYC is smart.
@calkelpdiver
10 ай бұрын
I did a lease on a car once. It was a new 95 Toyota 4Runner SR5 with a 3 year lease of 15k/yr, and 10 cents per mile over 45k mileage. That was a good lease at the time. Now here's the problem... When I wanted to turn the car in the dealership wouldn't give me a good lease again on a newer model. They wanted the vehicle because it only had 40k miles on it (below the lease limit) and they did all the maintenance (they knew the car), and they could get top dollar as a used vehicle. So I said I would buy out the lease, and they wouldn't give me a good loan rate. So I found a bank loan that was really low. Then I got screwed by them (dealership) and the state. I paid above the FMV and I got hit with both state taxes and license fees again (I paid those originally on the loan). I kept the vehicle for almost 15 years total though. So I got my monies worth out of it. I swore to myself to never do a Car Lease ever again. And I haven't. Stay within a budget when buying a car, go with a 5 year loan and fight for the best interest rate, and put about 10-15% down on the vehicle to keep payments manageable. And plan to keep the car for at least 10-12 years so you can recoup what you put in, plus a few years of putting that payment away to help on the down payment on the next one. If you can find a dealer who is a manufacturing clearing house then you might get a good deal on last years model sitting on the lot. Also, buy in July or August because the dealers will want to move the current inventory for the new model year coming in September/October. If you can, find the Fleet Manager at the dealership and work a deal, they will usually be more flexible. Lessons I've learned after buying & owning 6 cars (mine and my wife's) over the last 30+ years.
@wholeNwon
10 ай бұрын
I've had ONE for 25 yrs. and bought that used. It's been great and still a joy to own and drive.
@estuchedepeluche2212
10 ай бұрын
Leasing a car is expensive, but it’s worry free. Buying a new one will save you headaches as well, but depreciation will make you lose money as well. Don’t own a car if you can’t, buy whatever you want if you can.
@MB-rr1fb
10 ай бұрын
Worry free ? I'm guessing you never leased a car and returned it WITHOUT getting into a new lease or buying a new car. Guess what, they hit you for every nick in the paint, small wear on the seats, tires worn, etc,etc,etc .................
@estuchedepeluche2212
10 ай бұрын
@@MB-rr1fb You worry about peanuts or do you drive in backwater roads?
@springteen3743
10 ай бұрын
A car doesn’t depreciated if is not an asset. 🤔
@jonathansoto9079
10 ай бұрын
@@MB-rr1fb Many car companies nowadays provide you with up to $1,000 in damage coverage. Unless you treat the car like absolute garbage, there’s no way you owe them a dime. I’ve returned two leases cars with this coverage and it’s such a pleasant experience.
@Sbannmarie298
10 ай бұрын
Always own my cars. Best advice I’ve ever given. To myself and others. You’re welcome.
@Boris5Z
10 ай бұрын
Who gets a tax write off a mortgage? Most people use standard deduction anyways.
@gfysyoutube
10 ай бұрын
Didn't this lady get caught scamming people, and she is still on tv?
@zinhooffabean999
10 ай бұрын
Corporate media for you
@sclogse1
10 ай бұрын
See my comment.
@virginiamoss7045
10 ай бұрын
Yeah, I remember some years ago and I thought she had been discredited as a financial adviser.
@shirleysear7168
10 ай бұрын
She was discredited.
@Thea-gj2or
10 ай бұрын
She never deserved the credit. A lot of oprah's introductions failed tremendously in short order.
@sclogse1
10 ай бұрын
This gal started a credit card that you filled with your dough if you had no credit. To build credit. But it took a dive, and everyone who had money in that card lost all their money.
@CaptainUrielVentris7
10 ай бұрын
He advice is not always wrong but WOOF it is not universally applicable. Maybe for some people the pandemic was a financial boon but for a lot of people stimulus and loan freezes meant they could afford what she herself would have to admit are needs whilst incomes dissappeared and even then for plenty of people those still weren't enough.
@debbiedoodiedandi
10 ай бұрын
Excellent point. Not everyone who got a break on their student loan or mortgage payments blew it on frivolous things. I know people who used the money to create college savings funds for their kids or used the money to pay down credit cards - these aren't bad things and were things they also needed to do.
@nogunnofear6703
10 ай бұрын
Buying a car is not exactly a solid investment either. I believed leasing depreciating assets is a lot smarter than owning them. If it appreciates buy it.
@WayningGibbous
10 ай бұрын
It depends on your lifestyle, kinda. If you look at the decision purely off a numerical perspective, buying a car and using it for 15 years like the lady in the video is clearly the most cost efficient decision. But, we're all humans at the end of the day. Most of us enjoy nice things. Leasing a car and being able to get a shiny brand new vehicle in a few years might be worth the cost to some people. It will cost you more in the long run, but maybe you place a higher value on the satisfaction that driving a nice new model car brings to you. IMO, leasing a car isn't the worst financial decision out there. It makes financial sense to some, but only those who can afford the premium. If you live pay check to paycheck, you absolutely shouldn't be leasing. The lady in the video should've clarified this. The host in the video is a multi-millionaire. He can lease/buy whatever he wants because it doesn't impact him much.
@leok7193
10 ай бұрын
it's LITERALLY not. if you lease, it's always a new car and you're spending money for just having it parked 80%+ of the time. you're stuck with mileage limits, not being able to modify or upgrade it unless you're ready to spend even more money to return it to stock, you HAVE to repair it or pay for any damage to the car upon return, etc. meanwhile, I can negotiate the price on a new OR used (potentially a steeply discounted low mileage lease return) car that I can enjoy without limits and any modifications I make (tint, air intake filter, sound system, wheels, etc.) I only pay for once and they become selling points or extra value when I'm ready to sell (which I can do 3 months or 13 years later, instead of a locked in term) it's NEVER a good idea to lease or buy a depreciating asset... UNLESS YOU NEED IT, at that point go with the option that makes more financial sense, and 95% of the time it's ownership, especially on a used vehicle in good condition. nobody "needs" a new car, but if you really want one, depending on make and model it's within a few hundred dollars over the same period of time, but for above reasons, ownership is a much more enjoyable experience and past lease term depreciation slows down so every extra year of ownership is 1000's in your pocket.
@WayningGibbous
10 ай бұрын
@@leok7193 This is true, but you're forgetting Chris Wallace is a multi multi millionaire. He leases because he can afford it. You don't need to be a multi millionaire to afford something like that either. I wouldn't say its a waste of money, its just more like you're paying for a service, in this case, the ability to drive new cars.
@pfury67
10 ай бұрын
@@leok7193 If you have money, prefer minimal if any maintenance, always want a new car, and don't drive much for long travel, leasing can make a lot of sense.
@tperk
10 ай бұрын
@leok7193 For about 10 years I had a job where I had to use my own vehicle (costs reimbursed by the company) and if that car broke down even once my head was on the chopping block. So you better believe I leased, just so I'd have something that was essentially bulletproof. Saved my job numerous times.
@67daltonknox
10 ай бұрын
The generation that grew up during the great Depression knew the value of a dollar, then paradoxically their working careers coincided with the US post WWII boom, so they were wealthy. Their children, the boomers, grew up thinking that money grew on trees and threw money around like there's no tomorrow, but their careers coincided with the recovery of Europe and the rise of Asia and the decline of the US economy, so unless they inherited big time from their parents, a lot of them are in trouble.
@leok7193
10 ай бұрын
if you lease, it's always a new car and you're spending money for just having it parked 80%+ of the time. you're stuck with mileage limits, not being able to modify or upgrade it unless you're ready to spend even more money to return it to stock, you HAVE to repair it or pay for any damage to the car upon return, etc. meanwhile, I can negotiate the price on a new OR used (potentially a steeply discounted low mileage lease return) car that I can enjoy without limits and any modifications I make (tint, air intake filter, sound system, wheels, etc.) I only pay for once and they become selling points or extra value when I'm ready to sell (which I can do 3 months or 13 years later, instead of a locked in term) it's NEVER a good idea to lease or buy a depreciating asset... UNLESS YOU NEED IT, at that point go with the option that makes more financial sense, and 95% of the time it's ownership, especially on a used vehicle in good condition. nobody "needs" a new car, but if you really want one, depending on make and model it's within a few hundred dollars over the same period of time, but for above reasons, ownership is a much more enjoyable experience and past lease term depreciation slows down so every extra year of ownership is 1000's in your pocket.
@garyloten-beckford889
10 ай бұрын
I beg to differ on whole life insurance versus term. having both is great!!!
@bAvt_xyz
10 ай бұрын
And in a world where nothing ever goes wrong with a car and the stress of fixes and maintenance on aging vehicles don't exist...this is perfect advice.
@jsmcguireIII
10 ай бұрын
Unless you are smart and buy a toyota.
@alexs1640
10 ай бұрын
I think she is correct in the sense that if you have the credit to lease a car, you'll get great financing terms to buy a brand new car, model year, pay it off in 4 or 5 years and then you can ride that thing for 10 more years without a payment. Cars regularly go upwards of 200k miles now and some car makers give great warranties (like Hyundai) for 100k miles. Meanwhile, the person leasing will be paying every year as they get into new cars. Sure they get the most modern technologies and best looking cars, but they're paying to rent a car instead of owning one. And once that car you own does start giving mechanical problems, you can finance another, and you can use the money saved from those years you weren't paying to invest, grow and possibly pay off that car sooner or buy it outright with cash.
@bAvt_xyz
10 ай бұрын
I only disagree in that there are assumptions in that "usually" vs "actually" can be two different things. I did the Dave Ramsey thing (used car, emergency fund, etc.) and I wouldn't wish it on my worst enemy. I leased a really solid car next (which I ended up buying and have had for 6 years) and I literally had zero stress...which meant I had re-captured all the time and energy wasted trying to save a few bucks. Money isn't my gauge of a rich life...abundance of time and lack of stress are what I optimize over all else... Short version: I try not to step over dollars to pickup dimes - everyone has their own definition of that I suppose :)
@bAvt_xyz
10 ай бұрын
And maybe more pertinent to Suzy's point - maybe someone just likes being in a different vehicle every couple of years...if that's what makes them happy (and yes, they can afford it), then I just don't see why that's so 'foolish'. Foolish is prescribing the 'makes sense on paper' plan on everyone's life when that rarely accounts for preference, life circumstance and what that person values most (eg saving time and stress vs. saving money)a
@bAvt_xyz
10 ай бұрын
@@jsmcguireIII next time :)
@cropcircle5693
10 ай бұрын
It's amazing that people don't understand that after you own the car outright and get some payment free years out of it. You get to sell it and get money back out of it. How does someone not understand that a car you never own but always pay for is more expensive than a car you pay for in 3 or 4 years and then get a chunk back when you're done with it? like, yes I'll take that crazy depreciated 30K back from the 50K car I bought. Sounds like spending about 20K less than leasing to me.
@bAvt_xyz
10 ай бұрын
Then why would anyone rent an apartment? That would be so stupid! They don't even own it after they're done living in it! I drive a DEPRECIATING asset to get from point a to point b...not as a freaking investment thesis. I paid a lease because at that time they had great incentives and I wasn't sure I wanted the thing for more than 3 years. And the argument assumes that accelerated payments are affordable for folks (most max out the 60 months and even have re-finance from there - esp with current rates)...and it assumes people want to be in the same car for a decade or longer. If you do - good on you. But that doesn't mean I'm wrong (or deserve to be called stupid by Suze Orman) for having that preference.
@TheAMW
10 ай бұрын
Wrong. Leasing a car is 100% deductible if u are self employed or a business owner
@pfury67
10 ай бұрын
The only folks I know that lease a car have a bit of money and want new vehicles consistently. Almost no maintenance, and they vacation via other transportation means.
@BigBadJerryRogers
10 ай бұрын
I would never buy another car unless I was wealthy. I don't know what rates or what model cars you are looking at but it's much more cost effective to lease for economy cars. Car repairs and the stresses of buying a used car are never worth it, been there and done that
@bAvt_xyz
10 ай бұрын
@@BigBadJerryRogers exactly - well said
@joycebarnett6035
5 ай бұрын
Allways live under your means and you will be fine.
@ljacobs357
10 ай бұрын
Owning a car is also a waste of money.
@young-mukcho6433
10 ай бұрын
While I respect her knowledge on finance she is a little too rigid on this issue. It depends on the car you want to drive. if it is an over priced, high-maintenance, expensive to repair European car, I would lease it. I won't name the brands but they are notoriously expensive to repair not to mention reliability issues. i recall a disc jockey railing about how his new European car kept breaking down. They are great looking cars but expensive to maintain due to unnecessary overly complicated engineering.
@reggie2261
10 ай бұрын
leasing a cheap car better than buying expensive car in the long run
@jcarle1001
10 ай бұрын
Financially literacy and credit importance should be tought in school.
@j_dubs97
10 ай бұрын
a majority of people used the stimulus checks on food, rent, or utilities a.k.a. NEEDS. idk if Suzy Orman is misinformed or is misinforming us, but either way its important to remember that the stimulus checks were necessary and helped alot of people
@Peter-gi3re
10 ай бұрын
Yes, the stimulus checks were necessary for a lot of people. However, a lot of people pissed away the money on stuff they did not need. Like leasing new cars, putting money in stupid Meme stocks and Crypto currency. Also, some people just stopped paying their mortgage because they could get away with it ……. Then took the mortgage payment and did stupid stuff with it and acted like the mortgage didn’t exist. This kind of foolish behavior has put the same fools in deeper financial trouble. It blows my mind when I hear some of the stuff people have done in the past few years and then turn around and try blame “the government” for all their problems. In general there are a lot of people who are extremely irresponsible when it comes to their own finances. I am speaking from direct knowledge of what has gone on with family members and other friends. It’s sad, because so much of this is totally unnecessary and creates long term financial hardship for people. It’s easy to criticize Suzy Orman but one thing she is 100% correct about is that a large percentage of people are financially illiterate. It is a huge failing of the educational system in the US and worldwide not to address this problem.
@rootkhan3254
10 ай бұрын
I mean its CNN so probably the latter lmao
@jewdy8915
10 ай бұрын
@@rootkhan3254I don’t think CNN got a “stimulus check”…
@dsddala467
10 ай бұрын
Yep, and many people I know did not have work, could not work from home (they were in construction) and could not get unemployment, because CA screwed it up bad. We were in that group. Unemployment still owes us thousands, and we will never see it.
@888strummer
10 ай бұрын
She gives good advice but tired of financial guru's talking about stimulus checks which ended more than 2 1/2 years ago and amounted to about $2,500. The final check came in March of 2021. The exaggeration that $2,500 is some enormous sum of money and the silliness about $2,500 that was ALL spent by the summer of 2021 is so tiring. The main problem for most people is that inflation has greatly crushed their wages like never before; Suze is right that mass bankruptcies are coming for individuals and businesses in 2024
@jennyhwang3260
10 ай бұрын
Suze talks simple and wise! Agree 100% that high school should require passing 🎉a course on personal finances before you can graduate
@kennyc6597
10 ай бұрын
How is CNN+ doing?
@jmg6012
3 ай бұрын
Leasing a car is so much better. Everything is covered and you get a new one every 3 years.
@neuroncrux5937
10 ай бұрын
Paying taxes is a waste of money.
@davidcole240
10 ай бұрын
Agree Leasing a car as Individual is just dumb. Buy a car and keep it is the way to go especially with how much cars have gotten. Average new car price is now $45,000. That is just crazy.
@floridapunkarchivist
10 ай бұрын
Leasing works best for someone like me who likes the latest technology and safety features. You only finance the 3 years portion and not the entire car keeping payments low and you hold no responsibility in the event of a crash whether at fault or not that car will never be the same. Paint will fade in years and you’ll be sick of it. Leasing is the way to go indeed.
@Cathy-xi8cb
6 ай бұрын
Most of us don't end up in a crash, and we drive safely in either a Toyota or Honda that comes with great safety features in a base model. And we don't depend on a car to entertain us or make us feel good. While the $$ in our stock accounts hums along...
@floridapunkarchivist
6 ай бұрын
@@Cathy-xi8cb ridiculous…I just re-leased today and went from paying $225 to $315 for another 3 years and couldn’t b happier…you may live in BFE but in central Orlando and driving on i4 will mean when not if
@billsoderholm3125
10 ай бұрын
If leasing cars was good for the consumer, auto companies would not do it.
@SpeakTheTruth-gk8dq
10 ай бұрын
I would lease if it weren't for all the miles I drive. Payments never stop but you always have a new car and never gets to the point where you have to pay for repairs.
@bennyb44875
10 ай бұрын
Buy things that appreciate lease things that depreciate.
@kevinfaith-oy5gh
8 ай бұрын
reason we don't teach financial literacy in schools the big money doesn't want you to understand wealth; they want you indebted for the rest of your life so you have to work to pay them while they ensure your wages never increase. If we taught children how to avoid this trap how would they retain their power and wealth?
@shawjose-uc9xn
8 ай бұрын
Exactly, imagine working for 40yrs to have $1m in your retirement, while some people are putting just $10k in a meme coin for just few months and become multi millionaires. if you don't invest, you're missing out on opportunities to increase your financial status
@ronaldcole7415
10 ай бұрын
Leasing a car is a great decision for those who are hiding income monies. Just saying.
@emzywillrich7243
4 ай бұрын
Suze is a superstar! Her book, The Road to Wealth, led me to my debt-free status. I will be forever grateful. I had the pleasure of meeting her and got her to autograph it. She's a beautiful lady.
@ROYALP100
10 ай бұрын
So pay MORE than just the interest on the house, who doesn’t know this.
@jaxsonhugh9334
10 ай бұрын
Isn’t this the same woman that was charged with scamming people with fake information???????
@wholeNwon
10 ай бұрын
Actual reference?
@tubethis777
10 ай бұрын
I so agree with that statement, financial literacy should be taught always, from an early age
@Thea-gj2or
10 ай бұрын
I invest successfully. I could explain to you how I do it in a few hours. That doesn't mean that you could do it. Human nature works against you and it's awfully hard to overcome. I struggle with it myself.
@tajeshkalia1293
10 ай бұрын
You do delivery full time with an unlimited lease no maintenence that new model always gets you better customers and you don't stress about repair costs because you could be already tight and you won't be economically and mentally stable to know and handle.
@kevins9688
10 ай бұрын
Leasing makes sense for businesses over buying or financing as you can write off far more when you lease
@jameslee9726
10 ай бұрын
It’s ok to lease a car . The payments are lower then you can buy that car after 3 yrs for a lower price when the lease ends. Rich people like suze don’t understand why we lease cars because they can afford to pay a Mercedes cash.
@americanhooligans
10 ай бұрын
Crazy typical Republican, she literally blamed it on a $500 stimulus check 😮 this lady is nuts.
@Loktoris
10 ай бұрын
Vehicles are a waste of money unless they are getting you money
@islandhopper100
10 ай бұрын
Sadly, most Americans cannot tell the differece between wants and needs making it nearly impossible to become wealthy.
@goldwingerppg5953
10 ай бұрын
With a mortgage rate of 2.5%, which is lower than inflation, it would seem bad advice to pay it off. I agree leasing a car is a waste of money, unless you own a business or a contract employee who can write it off against your business. I agree 100% NEVER have credit card debt, make the credit card work for you. I’ve saved thousands of dollars over the years by paying off my credit cards in full every month. I used to receive flying vouchers, which I realized was to restricting, now I take a credit to buy whatever I want and get money back every year from my Costco credit card.
@CrystallyLavender
9 ай бұрын
Whether the mortgage rate is higher or lower than inflation has nothing to do with whether you should pay off your mortgage. It’s about having a big expense and debt, the biggest for pretty much everyone that isn’t independently wealthy. And if you’re no longer getting a write-off, you don’t want so much debt hanging over your head going into retirement. No matter how low the interest is on any loan, you’re still paying extra money on interest, and having to pay any interest is extra money you’re not saving for yourself.
@goldwingerppg5953
9 ай бұрын
@@CrystallyLavender So basically we agree.
@mostyles328
10 ай бұрын
Because of Suzi, my wife and I went from 30k in debt to a millionaire 12 years later. we are now in our 40s and house is paid off. Without an debt, we can have a bit of fun with our income. They say the second million is a lot easier… Thank you Suzi!
@antknee8695
10 ай бұрын
Buying, especially with cash, an asset that depreciates is not wise. I am on my 3rd Audi lease and don’t ever pay more than the cost of depreciation, and haven’t a car repair bill in over 8 years.
@HeyMsVal
6 ай бұрын
I followed her many years ago. She helped me to understand refinancing and credit 💳 debt. I have not carried a balance in over 25 years.
@shaunmc013
5 ай бұрын
People have a right to live a good life, just do it in moderation. Life is about memories you can’t be a stickler..
@laara1426
10 ай бұрын
Leasing a car is a Waste of Money.
@KTPurdy
5 ай бұрын
No, no, and no. I like to buy cars new because I treat them well. When I buy cars I kept them a long long time (1998 Wrangler, 2000 excursion, 2012 IQ, etc.) You can't get to know a car from just a simple test drive. leased a Leaf and choose not to buy it. It was a disappointment to own. For the other cars that I enjoyed, I bought at 57% residual. Cars depreciates almost as fast as a car payment. Most all the leases I've done were written up with low money factor and discounts. I'll never buy a car without first leasing it.
@jazzbquick389
10 ай бұрын
A car, unlike a home, is not an investment. It becomes a liability the second you drive off of the lot. Who do you know has sold a car, made a profit based on what they paid and the maintenance put into it over the years?
@Klako-ls6yt
10 ай бұрын
Cars in general are a money pit. Do whatever you can to pay as little as possible on your car, and even cut out the car entirely if you’re able to.
@wa210
10 ай бұрын
If it flies, floats or f's, RENT IT!
@mirnacollins6514
10 ай бұрын
Love this Lady , she is straight forward, yet very knowledgeable about finances. Nobody saw how COVID-19 was going to affect the world of finance however, the fact that student loans were put on pause and now have been forgiven is what many people needed to get out of debt! I wish Suzie would speak about what to look out for should this happen again.
@jann1717
10 ай бұрын
I do like her m; but, on this issue I disagree. I’ve owned trucks and leased trucks. The net cost is only slightly more on the lease. What I didn’t spend on repairs, I spent in leasing. A trustworthy mechanic is hard to come by and dealerships can’t be trusted at all. . I’d rather just pay up a bit, get a new car every three and skip the repairs. Once I retire, then I’ll buy. I might be driving less so things may last longer.
@jameslee9726
10 ай бұрын
Rich people don’t understand why people lease cars like suze.
@johnnyjayzeboomboomroom9163
10 ай бұрын
For wealthy Americans
@mikelundrigan2285
10 ай бұрын
“ Real Estate “ goes up….. not always! to the detriment on many!
@FlashDriveFilms
10 ай бұрын
Leasing a car makes perfect sense only for a Business. It converts a depreciation expense (if you purchased the vehicle, and its' attendant schedules) with a direct charge against earnings. Like a utility bill or office rent. But as an individual, leasing is basically a way to put yourself into more car car than you really can afford.
@OhokoEast
10 ай бұрын
If you are using a lease to get a more expensive car for your desired payment, then you are correct. If you can get a significantly lower payment for a cheaper car, then leasing can absolutely make more sense. But it's important to understand the differences, and if you don't, a blanket statement like buy an inexpensive car and keep it forever is good overall advice.
@schnitzelsemmel
10 ай бұрын
You don't need a new car every few years. Leasing is only a good option for companies if they need to do some accounting to lower their taxes, or if they want to scale quickly. For an individual, financing it is always a better option.
@heyheyhey40
10 ай бұрын
These are the things that should be taught in schools. Idk why it isn’t.
@judykeen5253
10 ай бұрын
Never thought I would say this but CNN is doing a better job on the news than other MSM. And BTW your foreign correspondents are the best. I’m eating my words that I would never watch CNN for news😂
@bobbear4437
10 ай бұрын
No leasing a car isn't always wasteful,,,, we leased a Hyundai for 4 years that gave us 100% of the money we paid for the lease off the PRESET price of the car at the end of the lease! Our car was in excellent shape, still had low miles so we bought it, and because we had so much taken off because of the 100% lease money credit, a credit union gave us a 5 yr .9% loan, yep less than 1% on a used car! After we paid off the $22,500 car, we figured with the lease and the loan, we got 9 yrs of financing for $600! Now thats smart money!
@skwira000
10 ай бұрын
An even bigger waste of money is buying a car known to break down. Listen to a mechanic who knows what they are talking about. This is where a financial expert who doesn't know anything about cars is not the best person to listen to for advice.
@Hello-xp5wz
10 ай бұрын
We owned 2 vehicles from 1996 to 2020 1998 to 2019 So much on repairs and new tires. We now lease a hybrid for $190 a month and save a bunch on gas. We only own 1 car. Happy as a clam.
@pontifexcrocdylus2716
10 ай бұрын
If you just need a car for a short term, leasing can be a great choice. Lower up-front costs and lower monthly payments and no worries about getting rid of it in a year or two
@momtur4875
10 ай бұрын
No you will have replace everything in the car that has a spot on it a paint job if there a scratch it will be cheaper to buy
@pontifexcrocdylus2716
10 ай бұрын
@@momtur4875 We never had any issues like that. We leased a while ago when we needed a second car but were still paying off another. It was cheap, $1000 down and $200 a month for 2 years. It was a Toyota Corolla with manual windows and no frills, but we were able to buy a car when the term ended. It was a reasonably good experience for us.
@mamadoudiallo7874
9 ай бұрын
Good stuff
@gianlucac7015
10 ай бұрын
Buying a car is only worth it if the interest rates are low or you pay it off very quickly, maintenance costs are low, and you keep the car 10years or more.
@Perfectworld21
10 ай бұрын
Leases of luxury cars such as German cars are very wise because of high rate of depreciation. Best to lease all German and British cars and buy the Japanese cars.
@davidmasse2829
10 ай бұрын
I agree and the deals they offer for leasing a vehicle are so crappy too.
@kayumochi
10 ай бұрын
There was a bestseller written years ago called "Die Broke" that did recommend leasing a car ...
@victorduncan3254
10 ай бұрын
Mortgage debt, car loans, credit card debt, debt debt debt over $500 makes no sense at all to me. Take advantage of somebody else. Just not me. If I can't pay for it myself, I don't want it ...
@crush3095
10 ай бұрын
8:23 I have a 1996 V6 Acura and she runs so sweet and torque-y
@shephusted2714
10 ай бұрын
new vehicles are wealth destroyers - accurate
@valeriehayes422
10 ай бұрын
Paying the mortgage off when 1/3 of the time frame remains is prudent. look at an amortization schedule.
@july77773
5 ай бұрын
The government PURPOSEFULLY does not teach finance in school.
@Noneofyourbizniz1
10 ай бұрын
I’ve been saying this for like EVER.
@tedmingolla2847
10 ай бұрын
I am faced with a dilema. My money is making about 7% interest and my mortgage is 2.7%. My refinanced P/I mortgage on a $500K home is only costing me $900/mo. This is hard to give up.
@tonyarellano4194
10 ай бұрын
We shouldn't have to be told this, SEND 200 or more extra per Month toward principal, look at your statements breakdown to see how much you are paying on interest !!!
@dginta7932
10 ай бұрын
Ya, even common sense tells you that people leasing cars are either rich or just goofy.
@carlrosa1130
10 ай бұрын
Chris Wallace earns a $2 million salary annually from CNN and she is amazed that he leases expensive cars. Chris Wallace isn't on a budget, Suze.
@user-qr7ee2cp4y
10 ай бұрын
Renting anything you use for any amount of time is a screw
@BillyColeII-dr6dk
10 ай бұрын
Always come to CNN for stories like this....thanks CNN. Made me a believer
@BryanGibbs-nh9uq
10 ай бұрын
I am leasing a 2023 EV. I got $7500 credit and will owe $20k after the lease. I planned to buy the vehicle before or at the end of the lease.
@andreward8268
10 ай бұрын
Best part... if the car is crap.. you can return it without a credit hit I leased a Jeep Commander - thank goodness it was a lease!!! I returned that piece of crap
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