Suzie Orman on Oprah
If you are young, fabulous and broke this is the time to solve your financial problems. Need solutions to the ever increasing bills that goes unpaid. Do you have questions on saving money, investing , or making money during recession. Suze Orman, an a award-winning personal finance expert, motivational speaker and best-selling author of financial books and kits, shared her secret to financial success on Oprah. If you failed to hear this honest-to-goodness advice straight from Suzie Orman, here are some Financial tips from experts to tide you over:
1.Track spending. Create a monthly budget. Write down how much you earn and the expenses per month. Study it. Know the difference between what you need and what you want. Know your priorities. This will keep you from buying things you don’t need and it will help stretch the money you earn every month and make saving easier.
2. Build an emergency fund. Once you have delineated your needs and wants. It becomes much easier to save your money. Do not put it off. Begin saving money today. Be serious. This is what you want to do. You could start by saving a small amount. What is important is that you do it regularly until becomes a habit. Once you receive your paycheck, deduct a certain percentage, say 10% and head straight to the bank.
3. Learn how to invest the right way. Even in this economic downturn there is money out there. You just have to know where to look. Remember that during the great depression there were businesses called the ‘new industries ‘ that did well. Identify these new or young industries and learn the tricks of the trade, ask around and get advice from friends and experts who made it big.
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