“You are responsible for valuing yourself and stating that value to the world. This holds equally true for employees of companies large and small as well as artists and stay-at-home moms.” MoneyPayNegotiating Book:Women & Money: Owning the Power to Control Your Destiny Source: Women & Money: Owning the Power to Control Your Destiny
“You're thinking to yourself, 'How is it possible that I am going to pay back $150,000 in student loans? I'm never going to pay that back. What am I going to do?' Listen to me and listen to me good, class of 2013. I want you to think back to all of these things you said to yourself, 'I can't do that. I can't palpate a cow. And what's worse, palpating a cow or taking semen from a horse?' But you did it, didn't you?” ThinkingWantSaidI CanWisdomWorkPayClassStudentsHorseCowsI Want YouLoanListen To MeStudent Loan Author:Suze Orman
“If you're in poverty and all you have is a debit card or a prepaid card or you pay in cash, it does not report to a credit bureau. If it doesn't report to a credit bureau, it cannot create a credit score for yourself.” IfsDoePayPovertyCreditCardsReportsScoreCashDebitDebit CardsCredit Scores Author:Suze Orman
“If you do not have at least an eight-month emergency fund, and you think there's a probability you could loose your job - and it's not just losing your job; you could be in a car accident, get sick - continue to pay the minimum on your credit card every month. Everything beyond that needs to go to establish an emergency fund. And if you have an emergency fund saved, then fund your retirement account before paying down credit card debt.” IfsThinkingNeedsJobsPayCarMonthsLosingSickAccountsEightCreditDebtAccidentsSavedCardsFundRetirementMinimumProbabilityEmergenciesCredit CardCar AccidentCredit Card Debt Author:Suze Orman
“Absolutely pay off your credit card debt, because a child can always get a loan to go to school, possibly a scholarship, a grant.” ChildrenSchoolPayCreditDebtCardsGrantsLoanScholarshipCredit CardCredit Card Debt Author:Suze Orman
“If you have credit card debt and credit card companies continue to close down the cards, what are you going to do? What are you going to do if they raise your interest rates to 32 percent? That's five times higher than what your kid is going to pay in interest on a student loan. Get rid of your credit card debt.” IfsKidsInterestPayCompanyFiveStudentsHigherPercentRaisesRateCreditDebtCardsLoanCredit CardInterest RateStudent LoanCredit Card Debt Author:Suze Orman
“Remember that in most cases, student loan debt is not dischargeable in bankruptcy. So you continue to pay it off anyway. Those who have very low interest rates (2-2.5 percent) on student loans and know everything is secure, great.” KnowsRememberInterestPayCasesStudentsLowsPercentRateDebtSecureLoanBankruptcyInterest RateStudent Loan Author:Suze Orman
“But credit card debt is unsecured debt, which means if you get in trouble and cannot pay off your credit card, you can discharge it in bankruptcy. What are they going do to you? If you're in a financial position to just methodically pay off both credit card and student loans, pay them all.” IfsMeanPayTroublePositionStudentsFinancialCreditDebtCardsLoanCredit CardBankruptcyDischargeStudent LoanCredit Card Debt Author:Suze Orman
“If your company matches your 401(k) contribution, then no matter what, contribute to your 401(k) first. You put in a dollar, they put in 50 cents. It's an automatic 50 percent return on your money. You can't pass that up. I'd rather have the 50 percent than pay 32 percent interest on a credit card.” IfsFirstsMatterInterestPayCompanyReturnPercentNo Matter WhatDollarsCreditCardsContributionCentsCredit Card Author:Suze Orman
“If you have a 50 percent match and you get in trouble financially, you can either withdraw money as a loan, or withdraw the 50 percent match. If you take it out, you have to pay taxes on it, but you still come out ahead.” IfsStillsPayTroubleTaxesPercentLoan Author:Suze Orman
“Absolutely pay off credit card debt. If you're not getting a match in your 401(k) and you've got credit card debt, you've got to get yourself out of credit card debt. When you get out of credit card debt, your credit score goes up and interest starts to go down.” IfsInterestPayCreditDebtCardsScoreCredit CardCredit Card DebtCredit Scores Author:Suze Orman
“If you pay off your mortgage before retirement, you take a huge financial load off your shoulders. You also become eligible to take out a reverse mortgage once you turn 62.” IfsTurnsPayHugeFinancialShouldersRetirementLoadReverseMortgage Author:Suze Orman
“If you're going to live in the house make it your goal to just pay off your mortgage.” IfsHouseGoalPayMortgage Author:Suze Orman
“Your goal should be to pay off your credit card bills in full at the end of each month and set aside money toward your emergency savings.” ShouldEndsGoalPayMonthsBillsCreditCardsSavingEmergenciesSavingsCredit CardEach Month Author:Suze Orman
“The advantage of online banking is that you can pay bills superfast, and your account is automatically credited or debited for each deposit and payment, making it easier to stay on track.” PayEasierAdvantageAccountsBillsTrackOnlineBankingPaymentDeposits Author:Suze Orman
“If the only way you can build an emergency fund is to pay the minimum due on your credit card, that is what you need to do.” IfsWayNeedsPayCreditDuesCardsFundMinimumEmergenciesCredit Card Author:Suze Orman
“The world needs another vehicle to get people to pay in cash.” PeopleWorldNeedsPayCashVehicle Author:Suze Orman
“The most important loan to pay is your student loan. It's more important than your mortgage, car and credit card payments. You cannot discharge student loan debt in the majority of cases.” ImportantPayCasesCarStudentsMajorityCreditDebtCardsLoanPaymentMortgageCredit CardDischargeStudent Loan Author:Suze Orman
“Credit card companies are jacking up interest rates, lowering credit limits, and closing accounts - and people who have made timely payments are not exempt. So even if you pay off your balance - and that's tough when interest rates are insanely high - there's a good chance your credit limit will be slashed, and that will hurt your FICO score.” PeopleIfsMadeInterestHurtChancePayCompanyBalanceLimitsToughAccountsRateCreditCardsScoreClosingPaymentCredit CardInterest RateTimelyGood Chance Author:Suze Orman
“I have always advocated doing everything possible to pay off credit card balances; it's good financial management and the ticket to a strong FICO credit score.” StrongPayBalanceManagementFinancialCreditCardsScoreTicketsCredit CardCredit Scores Author:Suze Orman
“I get so frustrated when people tell me it's unrealistic to create an eight-month emergency savings fund, or have money saved for a home down payment, or pay off their $5,000 credit card balance.” PeopleHomePayMonthsBalanceEightCreditSavedCardsSavingFundFrustratedEmergenciesPaymentSavingsCredit Card Author:Suze Orman
