SavvySugar

Who Is Your Mainstream Finance Guru?

SavvySugar — Mon, 16 Mar 2009 07:15:27 -0700

When it comes to financial advice I primarily rely on my own common sense and experience, a select group of trusted websites, news sources, experts and finance books. It's rare I have time to tune in to TV host and financial advisor Suze Orman or markets commentator Jim Cramer, but both have a mass of loyal followers. Who do you consider your mainstream finance guru?
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Could You Admit Your Debt Load on National TV?

SavvySugar — Sat, 10 Jan 2009 11:00:51 -0800

Money is a personal matter, or is it? On Oprah's "Money Day" show this week, one audience member, who had previously written to the show, was asked to stand up and share exactly how much credit card debt she has.

Suze Orman was encouraging the audience and viewers to get honest about how much debt they have, and this woman (an accountant) said that she honestly has $80,000 in just credit card debt. Would you be able to stand up and tell the world exactly how much you owe?

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Download a Free Copy of Suze Orman's 2009 Action Plan

SavvySugar — Fri, 09 Jan 2009 13:30:27 -0800

Suze Orman and Oprah have teamed up to provide complimentary financial advice for anyone who wants it, in the form of Suze's latest book, Suze Orman's 2009 Action Plan. You'll find it ready to download on Oprah.com through Jan. 15.

When she was on Oprah, Suze said, "This is the year that will make you or break you," and claims that her book "sets up a foundation to deal with everything that happened last year."

Guess How Much Credit Card Debt: Oprah's Audience

SavvySugar — Fri, 09 Jan 2009 09:30:39 -0800

Oprah's "Best Life Week" is coming to a close today, and yesterday's show was "Money Day" featuring Suze Orman. On their way into the show, audience members were asked how much credit card debt they had and 225 people admitted to having this type of debt.

Oprah's team then totaled the numbers submitted by the in-debt audience. Can you guess the total debt for these 225 people?

Take the quiz

Suze Orman Is as Famous as Elton John?

SavvySugar — Mon, 20 Oct 2008 08:00:13 -0700

For a personal finance personality, Suze Orman sure has a spotlight on her that includes a share of haters - this weekend's Saturday Night Live certainly didn't hold back in its depiction of the money matron. The past year has given Suze the opportunity to take her career to the celebrity level: According to Davie-Brown (a company that tracks the appeal of celebrities), Suze Orman is now "on par" with celebrities like Elton John and Nicollette Sheridan. It's hard to wrap my head around the idea that Suze could be as famous as Sir Elton John, and there are a lot of people out there questioning the methods she's used to get herself to this place. Find out what people are saying about her when you read more.

Suze's job is to give advice about money, but her critics observe that during the past year she's been using fear mongering tactics to benefit her stardom. She appeared on Oprah just last week and the promo for the episode (video below) gives some evidence that this could be true. On top of this general criticism, her Got Milk advertisement has raised eyebrows because of the innate conflict of a personal finance adviser starring (and being paid for) an ad that aims to sell.

Do you think Suze Orman has capitalized on public fear to promote herself? Is it wrong for someone in her position to endorse products?

Get a Free Copy of Suze Orman's Book Today

SavvySugar — Thu, 14 Feb 2008 11:24:09 -0800

You can get a free PDF copy of Suze Orman's Women & Money today until 5 p.m. PST. Download it here - you'll need to scroll about half way down the page.

Head to the Library For the Best-Selling Business Books

SavvySugar — Fri, 11 Sep 2009 04:30:02 -0700

Give yourself the cheapest business education this Fall by visiting your local library and signing out the best-selling books of the season. Expanding your horizons can never hurt when it's free, and you might just gain something from dipping a toe into the business section.

Most of the best-sellers from September are far from new releases, so you should have no problem finding them among the stacks. While you're there, look for a book or two from TresSugar's must reads for this month. See the New York Times list of paperback business best-sellers when you read more.

The Tipping Point, by Malcolm Gladwell
The Seven Habits of Highly Effective People, by Stephen R. Covey
Getting Things Done, by David Allen
Freakonomics, by Steven D. Levitt and Stephen J. Dubner
Sway, by Ori Brafman and Rom Brafman

Rich Dad, Poor Dad, by Robert Kiyosaki with Sharon Lechter

Nudge, by Richard H. Thaler and Cass R. Sunstein

Brain Rules, by John Medina

Suze Orman's 2009 Action Plan, by Suze Orman

The Speed of Trust, by Stephen M. R. Covey with Rebecca R. Merrill

Savvy Links!

SavvySugar — Wed, 20 May 2009 12:00:47 -0700

Could Michelle Obama save Kenneth Cole, Liz Claiborne, or Eddie Bauer? - WalletPop

Looking for part-time work? Companies like Lowe's, JC Penney, and Jamba Juice are hiring. - MainStreet

Would you host a Suze Orman-themed costume party (think neon blazers and brooches)? - Glamour

A mother of three gave up her fourth baby for adoption because of the economy. - lilsugar

Find a good reason for cutting back, then follow these three ways to trim your grocery bill. - Self

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Value Is Hot Right Now: Food Companies Fighting For Profit

SavvySugar — Tue, 30 Sep 2008 15:30:40 -0700

Convenience items like canned soup and frozen meals were the focus of millions of advertising dollars spent trying to portray the products as premium compared to fast food, but new campaigns show that certain brands now want consumers to see their products as value choices. Campbell's has particularly taken a renewed interest in value marketing, and has gone so far as dubbing its line of five condensed soups "the original dollar menu."

Look for other Campbell's soup ads paired with Kraft Singles cheese, calling grilled cheese and tomato soup the "wallet-friendly meal your family will love." Food marketers know that popularity of these items can pay off by increasing profit margins, because the products don't cost much to produce. These big brands can't help but notice the boost in sales of store-brand items, and these new value-focused ads are meant to help the big names stay competitive. Even the milk industry is feeling the pinch and has signed Suze Orman as the face of its new campaign that claims, "Even at today's prices, a glass of milk only costs about a quarter . . . "

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Tough Stuff: Buy vs. Rent

SavvySugar — Mon, 18 Feb 2008 09:50:41 -0800

If home ownership is a personal goal for you, then you and I have something in common! I'm excited for the day that I have a home sweet home, and I am constantly thinking about what it will take financially to get there. Here are some questions we should all ask ourselves and steps we should take in deciding to take the leap from renters to owners.

How long would you plan to live in your new home? The general consensus is that if the answer is three years or fewer, keep your renter identity until you're ready to settle in a bit longer. It takes some time to break even on the closing expenses.

Are you ready to give up the flexibility of renting? When my washing machine broke a few months ago, it was replaced with a new one free of charge. You will have higher maintenance fees when you own a home.

How much do I need to save for a down payment and closing costs? If you put a minimal down payment, you may need to get private mortgage insurance until you have sufficient equity in the home. Closing expenses generally range from three to eight percent of the house price, depending on various factors.

Will I have enough money each month to pay the mortgage, insurance, maintenance costs, and property taxes? Suze Orman wrote about an exercise that I think is worthwhile. She noted that, on average, you need to add another 40 to 45 percent to your monthly mortgage payment to get a more accurate total monthly cost. Assuming that your mortgage payment is similar in cost to your rent, open up a savings account and deposit the equivalent of the 40 to 45 percent to get an idea if you could handle the extra expenses.

Using a buy vs. rent calculator can be a helpful when figuring out if you should rent or buy your abode.

For informational purposes only. Consult your financial adviser regarding the benefits of buying or renting. Total Deposits at Washington Mutual are FDIC insured. Thank you to WaMu for sponsoring this post.

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