November/December 2002
Now On Sale!
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Spotlight
- Suze Orman
Most Beloved Financial Guru
Be respectful of your cash
"Take out your wallet and put it in front of you,"
Suze’s voice booms from my living room speakers on her
"Financial Freedom" tape set. "Let me
see the money that’s in your wallet." I scurry into
my office to retrieve my purse. A bit nervous, I unzip the brown
leather wallet to survey the state of my financial organization,
as if this moment of truth will define my entire history and
probable future with money.
Hmm. Not a total disaster but a few of the dollars are disheveled
and bent, mixed with other unnecessary papers. Needs some rearranging;
I line up the bills in order of amount and face them securely
the same way, as Suze’s voice encourages me to be "respectful"
of my cash. At least I have cash, remembering a time when that
wasn’t so. Still, I’m clearly exhibiting what Suze
calls "money-repelling behaviors." Dang.
It was 2000 and I took the lesson. I wonder if thousands could
have avoided losing their fortunes in the roller coaster financial
markets since if they had "respected" their money
more? Could this small symbol—the order of our wallets—be
an indicator of our current financial relationship and future
earning capacity with regard to riches? If so, we’d better
shape up, no matter how New Agey the advice. Maybe how we feel
about money really is reflected in how we physically treat it?
Three years later, I wouldn’t think of stuffing bills
into my wallet without careful attention. Random papers are
gone, filed away. My husband and I took Suze’s advice—paying
off our credit, settling estate and durable power of attorney
affairs, and purchasing long avoided term life insurance policies,
all in an effort to be grown up, responsible and a haven where
money would want to hang out. Much has changed. Our finances
are abundant; we just bought a beautiful second home. I am,
thus, a huge fan of Suze’s work and was elated when my
editor called with this assignment.
For those who desire more substantive facts than my exuberant
wallet reflections, here are some bare-bones stats. Suze is
America’s most beloved financial guru, the best-selling
author of four runaway best-sellers; a columnist for O:
The Oprah Magazine, a PBS and media favorite and
host of her own daily radio show. All from the humble beginnings
of a chicken seller’s daughter and an eventual waitress
at the Buttercup Bakery.
Do you have the best job in the world?
"I don’t
feel like I have a job because I don’t see a distinction
between when I’m working and not working. What makes my
life great isn’t what I do for others, because others
can only do things for themselves, but how I feel every day.
I feel fabulous—not because of the money
I have, not be-cause of what I do, but because I really like
who I am. If I were to die two seconds from now, it wouldn’t
matter to me. I have the best life I could possibly have."
What is the greatest money miracle you’ve ever
seen?
"I’ve seen so many! A 45-year-old woman named Maggie,
who lived in a tiny town in Minnesota and made $18,000 a year
as a secretary, called me. She and her husband were happily
married, but her husband got ill and had to stay in the hospital—a
three-hour commute from their house. She rented a motel room
nearby, paid with credit. Months later, while he was still hospitalized,
their only child was killed in a car crash. She contracted an
illness from giving him blood in the hospital; her husband died,
and she now had credit and medical bills. She lost her job and
both parents died within a week. Everyone told her to claim
bankruptcy, but we talked and she decided that nothing would
keep her down. She got another job and is now totally debt free
and feeling good. She recently called to ask where to put her
extra $50 a month for retirement."
What an inspiration! What about the more common challenge
of building financial freedom for those who start late?
"Most people don’t start retirement plans
until middle age. We see people’s nice cars, homes and
jewelry, but don’t see how they’re mortgaged to
the hilt, with bills through the yin yang. Just because someone
is a lawyer or doctor, doesn’t mean they don’t have
20-year student loans to pay off. Many people are not who they
appear to be. They may look like millionaires to others, but
know themselves that they are a walking/talking financial lie
with huge debt behind them. A problem with today’s investing
is that technology is so fast, we no longer live in the environment
where we can buy stocks and hold them forever. We can’t
use historical tricks to chart future markets, or be passive
investors. And, most advisors are commission-oriented salespeople
who need to make a living off you. You MUST stop leasing your
cars and buy them outright to keep for 10+ years. You MUST stop
refinancing your house just to take more money out for cars,
vacations and remodels. Real-estate bubbles happen, and if yours
bursts, you’re in trouble. Your number one goal, after
paying off credit cards and cars, is to build an emergency savings
of eight month’s expenses. Then, pay off your mortgage
as soon as you can if you’re going to stay in that home,
as well as investing the most possible in retirement plans."
Entertainers like Jim Carrey and Jewel say that affirmations
changed their fortunes; another financial icon—Donald
Trump told me that he was so busy building his wealth that he
didn’t personally use them. How important have affirmations
been in your life?
"Absolutely vital. After being a waitress, I didn’t
think I was good enough to belong with the financial advisors
at Merrill Lynch. My friends couldn’t bolster me up because
they were doing worse than I was. Every time I said ‘I
can’t, I don’t belong, I’ll never make it,’
I said ‘Stop. Wrong, Suze. You’re young, powerful
and successful. You’re producing at least $10,000 a month.’
It didn’t matter that I didn’t believe it. It worked."
Do you think it is necessary to have balance in our
lives before our finances will reflect balance?
"You can only be balanced in your finances if
you’re balanced in your life! Your money is nothing more
than a physical manifestation of whom you are. You and your
money are one. You work for it; you earn it; you invest it;
you waste it, you save it. It’s the mirror of how we feel
about ourselves. If it’s crumpled and scattered, I know
you don’t like yourself. When your finances are out of
control, it’s because you are out of control. As soon
as you take care of yourself, your family, and your loved-ones
first, everything comes to you. Money wants to hang out in your
energy because you are respectful of it, and because you’re
balanced."
My advice: Run to your nearest bookstore to get Suze’s
books and tapes. You may just find, like I have, the results
of doing so are nothing short of miraculous!
Linda Sivertsen—West Coast Feature Editor
linda@balancemagazine.com
© 2002 Balance Magazine |
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