# Stop Lying to Yourself About Money | Suze Orman’s Wake-Up Call | Suze Orman Show Full Episode ## Метаданные - **Канал:** Suze Orman's Official Channel - **YouTube:** https://www.youtube.com/watch?v=q1pnOusckXk ## Содержание ### [0:00](https://www.youtube.com/watch?v=q1pnOusckXk) Segment 1 (00:00 - 05:00) Coming up on The Suze Orman Show It is time that you get real about your money No more rationalization Do you hear me? Also Somehow I just look at this and I start to feel like You know what? You bought this home You bought this condo You took advantage of situations Now just stay there And you ask me Can I afford it? A $15,000 banjo You say you've been playing a year on what? I've been playing on a Fender banjo and a Deering banjo So you have two banjos Hi, everybody I'm Suze Orman, and you are watching the Suze Orman show All right, let's talk I want to talk to you about the financial excuses, the rationalization process that many of you use in order to buy things that you don't even need and probably don't even want in the long run because of the financial misery it causes you But let's talk about your thought process, and let's talk about it right now So many times you call in to the Suze Orman Show, so many times you send in an email or I see you on the street and you tell me about your financial woes You tell me your story And as I ask you questions, well, why did you buy this? Why did you do that? Why? Why. You come up with the most extraordinary, rationalized reasons I could ever tell you about Listen to me You have a way of thinking about things to make it okay You say? You know what? I really need a new car My car is about to break down It's been three years Why should I pay for maintenance on it? Why don't I just buy a new car? Or you rationalize why you need a larger home more clothes jewelry And the truth of the matter is, most of the things that you purchase are not needs They are wants I would like you, given this economy to take a different stance with your life I would like you to get honest, to get honest with every single penny that you spend Are you sure that you need it? Or isn't it more probable that you have rationalized with yourself that the reason that you need a new car, rather than keeping the one that you have, is simply because it's easier? You want to impress people It makes you feel better If you are spending money, you don't have to purchase something new, and those payments have to go out every single month You are far better off taking your chances on fixing an old car, because it might just not break down to keep a house that you already have, and moving everybody into 1 or 2 rooms Who needs all this space around them? What are you thinking? What are you doing? So here's the bottom line I want you to get real when it comes to your money I want you to understand that, yes, the economy may feel like it's doing better It's going to go up down It's going to go all over the place And we're in this for a few years So do not turn your back on reality what's really going on with your finances Do not rationalize it Do not fantasize about it I want you to only spend money that you need to spend And one day, if you do that, I promise you, you will come back here and you will say, thank you, Miss Orman Now, our first guests tonight are coming to us from Seattle, Washington Doug and Sadie want to adopt a child They're currently living in a one bedroom condo They don't think it's large enough Sadie wrote in to the show What do you need to know? Doug and I bought our one bedroom condo two and a half years ago, and we bought at the peak Obviously, like many people did, and the market obviously went down And we owe so much more than our condos worth at this point So we're looking at selling our condo because we want to make room for our new little one First real estate agent I talked to said foreclose now. Stop making your payments now And of course, that scared us to death And you know, it felt wrong on every level So we don't want to foreclose And the other option that they had was to short sale, which sounds like a good option However, we were told by many different real estate agents that in order for your short sale to be looked at and considered almost at all, you have to be delinquent on your payments So you bought a condo two and a half years ago, thinking that you would actually sell it in two years, make money and therefore be able to buy something larger Is that correct? Exactly And Doug, where'd you get this idea from that that's what you should do? You know we went to, like Sadie said, we went to real estate classes ### [5:00](https://www.youtube.com/watch?v=q1pnOusckXk&t=300s) Segment 2 (05:00 - 10:00) and just talking to our families Just in the past it's always seemed to work that way with the, the trends that the market was showing So we thought this would be a great opportunity for us So you bought a condo for $275,000 How much did you put down? None Nothing You bought a condo for $275,000 with nothing down And you took out a 30 year fixed rate, interest only mortgage Correct? All right And now, here you are, two and a half years later, and now you're stuck with this And are you having a baby in terms of, you know, that paperwork says that you're about to adopt a baby You tried to have a baby other ways Is that correct? How much money did you spend on that? I mean, it was probably 6 or $700 a month How many months did you try for in vitro? Eight months Total for with that cost All right So you've spent quite a bit of money trying to have a baby So having a baby is really, really important to you Is that also correct? Yes All right And at the same time, though, you want to keep your integrity and not foreclose or do a short sale on your home Exactly Well, here's the thing, you guys Is that, number one, I don't know what real estate school you went to I don't know what your friends or family members were telling you, but I hope the great lesson that you learned from this is that you never, ever buy a home with no money down interest only You never, ever get yourself into a situation where you're only buying something, where you keep it for just two years because it never makes sense You have closing costs, you have all kinds of fees Everybody else is making money and made money off of you And here you are now, stuck with the situation that you have a condo where association fees go up All these things happen that you need to get out of because you are going to have a baby and it's not large enough How soon before you have a baby and obviously you're going to have to adopt now is that correct as well? That's correct Yes And we, you know, it can take up to a year We haven't put our names in yet We're ready, but we just we're trying to look into the future to make sure we are ready to provide before we put our names in Everything is ready We're ready to go next week All the paperwork We just want to make sure that we have all of our ducks in a line All right So normally I would sit here and I would say to you, here's what you should do You should either do a short sale if you want to get out of this condo, you either have to do a short sale, which will ruin your credit, or you have to do a foreclosure, which will ruin your credit However, I don't feel like that's what I want to say to you because I'm a little angry at you And the reason that is this, is that you buy a condo, no money down, interest only Okay, you then go on to spend a nice sum of money to try to have a child I get that, but why in the world in the year 2008, just one year ago, you bought a motorcycle on credit for $9,000 You have cars, that have mileage, you know, and now you're buying a motorcycle as well Somehow I just look at this and I start to feel like, you know what? You bought this home You bought this condo, you took advantage of situations Now just stay there It's not like you're underwater tremendously on it You bought it for $275,000 It's now, really, you could probably sell it for $210,000 It's a short sale Really 50 or $60,000 underwater is not a big deal looking at that So the ethical thing to do, do here is to stay exactly where you are The ethical thing is to say, all right, you have a baby So you make a one bedroom apartment, work for a while You wait until things either come back or if they don't come back, at least you see what you have going You knew what you were getting into It didn't work out that way You have to look at the situations that you got yourself into You can afford it It's not like you can't afford the payments Why not just stay? What do you think about what I say? We didn't feel good about foreclosure or going delinquent on a short sale In fact, we are working with the real estate agent and put our condo on the market And we decided not to go delinquent, even though we knew that the chances were so slim that it would be accepted We thought, well, at least try, but we just didn't feel good about going delinquent after all So, what you're saying sounds right ### [10:00](https://www.youtube.com/watch?v=q1pnOusckXk&t=600s) Segment 3 (10:00 - 15:00) Sadie I’m just getting a tissue Sadie, why are you crying, girlfriend? No. It's fine Oh, no, it's not fine Tell me, why are you crying? Oh I was just hoping for some other option Like what? Give me... Do a financial fantasy with me here Like, what would you have wanted the option to be? You know, I researched so hard to try to find some other option for us to be able to have our family But here's the thing, Sadie listen to me You can have your family Nobody's telling you can't have your family And what's so wonderful is And I want you to listen to me closely, is to raise a family with ethics, with integrity With not, who The little baby Whether it's one, two, three, four years old, it's not going to care if it have It has its own room or not You're right So what if it has a crib in the living room or in the crib in your own room? Who cares? You're right What you really giving to your child is that mommy and daddy are doing things the right way to be able to say, mommy and daddy made a mistake We listened to other people, other people told us we could do it this way And therefore, you know, we listened and we believed But it wasn't right, you know Did you not - you guys you're good people. Look at you knew, when you were buying this with no money down and interest only that it was a risk Didn’t you both know that on some level? Absolutely So here's what I want you to do when you leave here I want you to go back to your apartment, your condo, and I want you to image where is the crib going to be, where how are you going to set this up? make this work so that you feel great about it and the child will as well? I want you to save every possible penny that you can so that when the time does come, if you do need to sell it and take a hit, whatever it may be, so maybe you'll have enough money to come up with the difference or whatever, so that you can do this in an ethical way I want you to think twice before, Doug, you go out and you spend things Can you just tell me briefly what made you want to buy that motorcycle? You know, with gas prices going up as high as they were, and I had about a 30, 30 mile commute to work We just looked at how much we would save in gas and that it would kind of pay for itself through that And we had our cars paid off so that we could have At the time, we thought it'd be okay for us to afford a motorcycle payment Yeah, but Doug, get honest with me, I looked at all your expenses You are paying on a $9,000 motorcycle because you had to finance it, and it was used more than you were paying on gasoline So you had this motorcycle You weren't saving in gas because you have a payment Plus you have motorcycle insurance You can't use it all the time when it rains or whatever it may be So the truth of the matter is, you wanted a boy toy, right? Yeah All right, thank you There was a reason I found a rationale to get it But that's the key here. You are to go home and your homework is this You are never to find a rationale again as to why you should buy something that you cannot afford You are to look at it, and you either can afford it or you can't There's a good reason to buy it or there isn't If you can get that down by the time you're able to adopt your child now, you will be passing down the correct values, the correct money lessons to your child Because again, children do what you do They do not listen to what you say Got it? Absolutely So no more tears, no more sadness Stand up Take responsibility for what you did Take responsibility for your choices and turn this around one penny at a time In this annuity, there are no surrender fees or anything like that Is that correct? Not after the first seven years Oh, You didn't tell me that Plus, in all the years I've been doing this, this may be the second time that I have heard that a man cosigned a loan And later been wanting something? ask me, can I afford it? I want to, rebuild a 1973 Datsun 240Z I've loved them since I was, just driving age I've always wanted to build one Tell everybody how many cars you currently have I've got eight vehicles currently Uh huh Welcome back to the Suze Orman Show Monica Give it to me good, girlfriend Good evening Suze I'm 52, self-employed, and like most people, lost over 40% of my money in my Roth and traditional IRAs last year And I moved ### [15:00](https://www.youtube.com/watch?v=q1pnOusckXk&t=900s) Segment 4 (15:00 - 20:00) both of those over to USAA Financial earlier this year, where their advisors, don't work on commission, and they're currently strongly recommending their flexible retirement savings annuity as part of my retirement portfolio It has, I know how you feel about annuities Suze so I was very skeptical, but this particular one has a variable rate between 3. 5 to 3. 65% If you have between $125,000 in there It offers a 4% premium bonus for all money deposited during the first 12 months It has no fees If you maintain a $5,000 minimum balance or commit to a monthly automatic contribution of at least $100, and you can add more money at any time So I was wondering, how do you feel about something like that and given your general dislike of annuities as part of a portfolio? As all right, listen, if you want to go in to an annuity, that's a fixed rate that gives you an interest rate and there are no fees, anything that's associated with it Okay Remember the types of annuities that I do not like are variable annuities I don't understand why somebody really would go into, in most cases, mutual funds within an insurance company that happen to be held within a retirement account Tax deferral in a tax deferred or tax free situation makes no sense In this annuity there are no surrender fees or anything like that Is that correct? Not after the first seven years Oh, You didn't tell me that Why is there surrender fees for seven years? Are you positive that your financial advisor is not getting any part of that commission whatsoever? Are you positive 100% All right because something isn't right there When you have seven years where there is a surrender fee, usually the surrender fee is there to either pay back the financial advisor for having sold you that, that annuity, if you come out early because they give him or her their money upfront, or the financial institution gets the money, but somebody is getting that money and that company needs you to keep your money in that annuity for seven years to make back the fees Does that make sense It does that somebody is getting Yeah, that's why I asked them that I asked several people that question and that's why I even considered this, because that I don't want that to happen But who's getting them? It's not like some annuities And there are annuities out there that there are no surrender fees So if you put your money in there and you want to take it out, you can But when there is a surrender fee, somebody, somebody or some institution is getting that money and they need to have that in there I personally would not be going into anything where there was a surrender fee for me to get my money out when there are other alternatives Once again, everybody, we rationalize because we want to believe things are exactly like they should be Now, it may be a great annuity, everything may be fine about it I don't hate all annuities across the board, but don't you dare go rationalizing that it's great if you don't tell me all the facts And the mere fact she didn't tell me about a surrender fee tells me she was rationalizing Okay, we can go to the next call now Wayne, boyfriend What's up? Good evening Suze I recently started a new job and I've been offered long term care insurance through work at pretty low rates of about 11 to $48 a month Wait wait. month? That is like a serious difference Is it $11 or is it $48 per month? So it depends on the daily maximum that they'll pay And it ranges between $110 a day to $170 a day Got it All right What company, by the way, is it with? Its with CNA Got it. Okay Go on And so I’m 30 years old I'm not sure if it's worth signing up or not They say the premium’s designed to remain level over my lifetime Unless they raise the rate for everyone So I was wondering if it's worth the investment or should I wait? I know you usually say to wait until you're older to buy this type of insurance Yeah So here's the thing Do you have credit card debt? No I don't Do you have any emergency fund? I do have an emergency fund How long will it last you? It would last me at least eight months At least at eight months Do you have money for a down payment on a home, or do you already own a home? I don't own a home I'm just working on that right now But I do max out all my retirement accounts So you do So here's the thing Anything can happen at any time It is true Something could happen to you when you were 30, 35, 40 where you could possibly end up in a nursing home, believe it or not ### [20:00](https://www.youtube.com/watch?v=q1pnOusckXk&t=1200s) Segment 5 (20:00 - 25:00) So do I think it's a wise thing to do at the age of 30? Not if you were struggling, financially speaking However, it seems like you're on the road to true financial freedom You have everything covered You've got everything going like you want Again, if it's 11, ten, 15, $20 a month, I don't think it's going to harm you whatsoever If I were you, I would go for it Let's go to California Layla You know, they wrote a song about you a number of years ago Did you ever hear it, or am I just too old? Oh, yeah, I've heard it You've heard it All right, girlfriend, what's up? Okay, hi Suze, my husband and I are concerned with what to do with our IRAs in 2010 I wanted to know if I should convert some of my IRA to a Roth while there's still no income cap Yeah. Here's the thing This is the misconception, everybody It's not that the income cap is going away after the year 2010 It starts in the year 2010 And anybody, regardless of income, can start to convert money from a traditional IRA, an IRA rollover, whatever it is, into a Roth IRA It is only in the year 2010, however, that you have two years to pay the income taxes that will be due on that conversion You can still convert in 2011, 2012, 2013, but you have to pay it that year so you don't have to convert all at once. Got that girlfriend? So you can start to convert in 2010 if you want, and continue on for as long as you want Up next, you can't afford to miss Can I afford it? A $15,000 banjo? Because I've been playing for about a year now and the banjo is a lot easier to play And also, it will save me money because my wife wants to buy a winter home in Florida It'll save you money That's the best rationalization I've ever heard in my life Also I’d like to buy a four day cruise to the Bahamas for my 16th birthday in two years, and I'd like to take my dad I love how you're thinking about money, and I love you so much that I have actually What do you want to buy? Ski lease In 1973 Datsun 240Z 4-day Cruise to the Bahamas $15,000 banjo Welcome back, everybody, to the Suze Orman show Want to buy something? Well, this is the segment where I tell you if you can afford it or not Are you ready? Let's begin All right Hoss What do you want to buy? I want to rebuild a 1973 Datsun 240Z I've loved them since I was just driving age I've always wanted to build one I have a second donor car It's got parts My wife, thinks I should go ahead and do it and believes we can afford it I’m financially conservative and with the birth of our new baby boy twins, I thought I should call and get Suze to approve it before I dove into it Hoss, when are those twins coming? They are coming sometime in the next 3 or 4 weeks So they're about to come soon Is that Right? Yes. She is about to pop All right, so pop me the question if you could afford it or not Show me the money We bring home 7667 each month Yeah, we have, 153,000 left on a 20 year fixed mortgage Not bad We have 130,000 on a five year arm on a rental house that we have Yeah We have, 13,000 on our first car loan, minivan with twins coming Yeah And 87,000 in savings outside of our retirement savings And how are you going to pay for this $18,000 car? We are going to take it out of savings that I have saved my bonuses and fun money for the last 7 or 8 years So then that would bring you down to approximately $67,000 right around there when it's all said and done for emergency, correct? Yes And according to my calculations, you need at least a 57 to $60,000 emergency fund to carry you through eight months, correct? Yes So that gives you more than enough money However, I have to tell you, my dear Hoss, you have been denied And the reason you are denied, sweetheart, is this Tell everybody how many cars you currently have I've got eight vehicles currently Uh huh. And two motorcycles And you have two kids on the way, and you have not factored in what happens if something goes wrong? What happens if you need more money? What happens if your wife gets ill? What happens if you get ill? Things happen in life, Hoss, and you do not need a ninth car You are denied Oh, ya, ya see, that's a rationalization, everybody How I started the show, right We rationalize We need to do this You think you need a ninth car? Now you've got me started ### [25:00](https://www.youtube.com/watch?v=q1pnOusckXk&t=1500s) Segment 6 (25:00 - 30:00) for this whole show, for this whole segment Good luck Everybody else waiting Tammy, what do you want to buy? Hey, Suze, thanks for taking my call Every winter, my husband for the past few years gets a ski lease The ski lease runs from November to April And after all is said and done with the house rental resort pass, food and gas, it costs about $2,000 And do you ski? What? Do you ski? I started a little bit, but not as avidly as he does All right So you kind of just go there, you hang out with him and this is for him, correct? I somehow had that feeling Show me the money All right, well, we bring home $8,500 a month Uh huh 1844 in rent We have a student loan of 13,000 with a 2. 8% interest Yep 92 in savings and 108 in retirement And you want to know if you can afford this? Yeah. He wants to continue to do it And I continue to think, I don't know if we can financially do this every year All right But he gets a lot out of it Yes a lot All right So here's the thing You have been tick tick tick tick You have been approved And that's because you actually can afford it, girlfriend So go ahead and do so If you decide one day you want to buy a house or whatever, you have enough, you're doing just fine Just don't get hurt on those ski slopes Scott, what do you want to buy? Hello, Suze Hello, sir a $15,000 banjo Because I've been playing for about a year now, and the banjo is a lot easier to play because of the feel of it when you're holding it This, the instrument sounds great It's a beautiful instrument Almost as beautiful as my wife, Linda And also, it will save me money because my wife wants to buy a winter home in Florida It'll save you money That's the best rationalization I've ever heard in my life You want to spend $15,000 on a banjo? You've been playing one year What have you been playing on If you'd have If you say you've been playing a year on what? I've been playing on a Fender banjo and a Deering banjo So you have two banjos? Yes not as near as nice, though, is that Gibson banjo Oh, I would imagine not But $15,000 on a banjo And just if you didn't spend $15,000 on a banjo, doesn't mean that your wife is still going to get to buy a home You're going to have her calling and see if she can afford a home However, show me the money We have 5400 per month combined income Yep We own our house home out right Fabulous We have $50,000 in savings Yep And we have $300,000 in retirement And you're 60 years of age, correct? Yes, I Am How many miles you got on your car? Oh, it's got a bunch of miles But we pay cash for those We don't We have three So, we don't need a car for a long time No, but, but you don't know that you don't need a car for a long time because you have serious mileage on some of these cars And if one of these cars happens to break down now, we're in trouble Let me put it simply You're denied Ohhh Oh, I know, let me play you that tune Di do di do denied. Denied You don't need, number one a third banjo Number two, you don't need to spend $15,000 on a banjo You do not have enough in retirement to generate the income that you may need later on in life if you get ill, if you need an aide, you need nurses You need things like that Those things happen You do not need a banjo and you cannot afford it Denied again Scott Todd, what do you want to buy? Suze I'd really like to buy a portable sawmill so I could start my own business That would give people an option to utilize the tree that needed removed instead of a tree service Just going out and chopping it up and hauling it away So let me just get this right I because I've owned homes where I've had a tree service come in They cut down the tree, they chop it up for me They leave it there because the tree has been either diseased or something I'm not just taken down healthy trees people, got it? All right, so we take down the tree because you have to and they've chopped it up for me And no big deal Is that what you want to do for people? No I want with this portable sawmill, I'd be able to come in and actually take that tree and turn it into lumber or something they could use four by sixes so they could get a feeling of actually utilizing that instead of it So they would actually build something out of it Yeah, I got it Show me the money Okay We have, my wife and I have 5210 per month combined Yep 133 30 year fixed Yep Great so far 3000 in car loans Yeah. Good ### [30:00](https://www.youtube.com/watch?v=q1pnOusckXk&t=1800s) Segment 7 (30:00 - 35:00) And 12,000 in credit cards And how are you going to pay for this? Get a, save up 20% down and get a personal loan from a local bank All right So and then if you got a personal loan from it All right And here you are now, you know, you're like, at $14,000 of a loan, you already have credit card debt You get hurt, something happens How are you going to pay for everything? I do have a disability insurance Yep And I do have we have, I guess, life insurance policy that I could get cash out of And then borrow it if you need it All right, here's the thing I love this idea And you are And the reason you are denied is Please listen to me I'm not saying that this is not a good idea In the long run, but When you have credit card debt, you have other kinds of debt Something can happen in any way if you lose one of the incomes What are you going to do? You can't go further in debt at a time when maybe you think people will do this, but they might not hire you, they might not do it the way that you think it's going to do. How do you get it? I just don't think it's a wise thing to do in this economy at this point in time If things turn around, you get out of credit card debt and things like that, maybe But not here, not now And that's what I think Ben, what do you want to buy? Hi, Suze Thanks for having me on the show Anytime, Ben How old are you? I am 14 Do you watch the show all the time? Yeah, every Saturday night with my mom I love that Do you rationalize about your money? Like, do you always make excuses for why you think you should be able to buy something, even though you know you shouldn't? Umm no No. You're good with money, yes? Sort Of You know the value of a dollar? Yes? Yeah What do you want to buy? I'd like to buy a four day cruise to the Bahamas for my 16th birthday in two years And I'd like to take my dad How do you even know about this cruise? Well, my family went on a cruise a little while back, and, we actually went on the same exact cruise I was planning to take And so Wait, just so, like, I have this straight, Ben You've been on this cruise already? Yeah And you loved it so much that you want to do it again So you've already experienced it You want to do it again, but this time you just want it to be where you kind of bond with your papa and you and your dad go, right? Yeah Got it Show me the money All right I have $194 a month take home from what's your job? I am a janitor at a preschool Sir, I love that Go on I live rent free Yep I have $400 in savings Yep And I have a separate savings account with $2,600 in it, but that's inaccessible It's only for college or a car I got it And let me ask you this How are you going to pay for this? I was going to pay for it out of my savings And then I was going to use my salary to pay for the rest of it So you were actually going to save up over the next year or 2 or 3? Is that correct? Until you had the $4,000 to actually then go and take Papa on this cruise, correct? Yeah All right So I love you very much And that is the reason why I love how you're thinking about money And I love you so much that I have actually denied you And let me tell you why I'm denying you in three years from now, you will, 2 to 3 years from now, you're going to be 16 or 17 years of age and you will be going to college, will you not? Yes, I will Do you not think that it would help your parents more, that if you took that $4,000 that you saved and put it towards your books, education, put it towards your expenses, do you not think that in the long run, Ben would actually help your father more than going on a cruise that you've already gone on once with them? I think so All right, so do you understand This is all about really not wanting to relive experiences and not wanting to recreate something you've already done This is about making sure that your future is okay, and that you really create more out of your money and who you are in the future I'm sure your parents, as well as Miss Orman here, would much rather see you take that money and put it towards your college education That will help more than anything Okay, now, if you think it is easy to deny a 14 year old, I'm here to tell you it's not Want to be part of the can I afford it segment? Yeah Kids apply go to my website ### [35:00](https://www.youtube.com/watch?v=q1pnOusckXk&t=2100s) Segment 8 (35:00 - 40:00) Suze Orman dot com and find all the information you need to know there to come right here so that I can tell you the truth about what you should or should not do Women, stop it! Stop starting conversations with apologies There is nothing that you can say that you shouldn't say Oh, give me a break And later I have to tell you, that call has bothered me everybody, has bothered me Don't believe it Something happened in this person's life Welcome back to the Suze Orman Show Let's go to Kristi in North Carolina Hi, Suze Thank you for taking my call Any time So, this is probably, sadly, a common question that you are getting a lot You're already starting with excuses with apologizing Women, stop it! Stop starting conversations with apologies There is nothing that you can say that you shouldn't say Oh, give me a break Be powerful Go for it, Christy Okay Prior to getting married, my husband cosigned a car loan for his brother and longtime girlfriend And basically, they have been late every single month since the loan started About a year and a half ago And so we've approached them numerous times about getting current and paying on time The car company now actually calls us directly, almost every single month Do you know why they do that, Christy? Because they want their money No, because it is your loan First of all, I just have to say, in all the years I've been doing this, this may be the second time that I have heard that a man cosigned a loan Usually it's women cosign loans all the time Men usually say, are you kidding? I am not giving you that money I am not cosigning for you So you must have a really, really sweet husband Oh, he is wonderful And that's, he's a very generous man And I think that that's a great quality to have Unfortunately, it's coming back to bite him on this situation So our question is, is how do we stop the bleeding? You can't We can't You can’t That's why I keep saying don't cosign loans I say it I've been saying it for the nine years now that we're going on, that I've been doing this show I have said it my entire life, and I get all these emails saying, Suze, how can you say that? You gotta help out a family member People need help right now And I'm like going, are you out of your minds, people? So here's all you can do You need to make sure that your relatives pay you pay the car company If you do cosign a loan or you've made a mistake of doing so, do not make an additional mistake where you let the people pay the creditors directly, because then you don't know if they're paying or not, and then you're the ones who get the call You make them pay you, you turn around and you pay the creditor And at least you know that now it's ruining your credit You legally owe this money So if they can't pay it, you need to pay it I am so sorry to say Up next Listen Your checkbook, your FICO score, your credit card debt, it all tells a story You rationalize sometimes when I ask you a question, but I can feel when it's not right And to this day, Lou, I still think that woman was not telling me the truth Are ya ready? Yes, email section of the Suze Orman Show That's right. Get ready Why do they always have you, like, walk onto the set? Why can't you just be there when we I know, I'm not there in the wide shot and then I'm there You know it's like yeah You know why everybody? Because they want you to get that Lou just doesn't read emails that’s right Lou is the actual stage manager of the Suze Orman Show That's right I’m working He doesn't get paid extra to do this I thought that was very wise of us Yeah Look how my head goes into your shop I know There we are See my head there Please See, and that's because he's not stage managing me Okay, read me your email boyfriend I have an email from Cheryl in Maryland Cheryl was also a caller on our Halloween show I don't know if you remember, but let's take a look at the clip to refresh everybody's memory I'm haunted by my $60,000 worth of credit card debt due to my bad spending habits, and now my interest rates are going up My FICO score used to be around 800 a few years ago Now I'm afraid to look at it Here's my question for you What happened a few years ago? You had money under control You had an 800 FICO score Everything was going right What happened in your life that all of a sudden made you just go invisible, that made ### [40:00](https://www.youtube.com/watch?v=q1pnOusckXk&t=2400s) Segment 9 (40:00 - 43:00) you become a ghost to yourself and everybody else matter more than you. What happened? Well, I remodeled my house mostly with my credit card Yep And why did you do that? I just wasn't thinking I have to tell you that call has bothered me That call, everybody, has bothered me To tell you the truth After the show, Michael Yuri was our guest that night, remember? And I kept saying to him Don't believe it Something happened in this person's life. Listen Your checkbook, your FICO score, your credit card debt, it all tells a story You rationalize sometimes when I ask you a question, but I can feel when it's not right And to this day, Lou, I still think that woman was not telling me the truth Well, you were right What do you mean? Cheryl emailed us, what she said Please tell Suze this On the call She wanted to know what happened to me three years ago when my FICO score dropped and I got into $60,000 in credit card debt In thinking about it, I had many traumatic deaths of loved ones close to me All of those deaths occurring within the past two years sent me into a deep depression That's when my spending escalated Poor excuse But that was the timing leading up to my current situation Hope you let Suze know I really respect her opinion Oh, thank you so much Here is what I just want to say to all of you I started tonight's show with this whole kind of, like, little tirade on rationalization, how we rationalize things that happened to us in our lives, things that we spend our money on And then I sit here and when you call in, I ask you questions because I can feel it everybody, I can see it in your numbers I can hear it in your voice when you tell me certain things It's so easy to know the truth But what's hard is for you to admit why you got into that situation Again You rationalize just wanted to do a kitchen It was no big deal But then eventually, down comes the curtains and you stand on your own financial stage No more rationalizations and you are the true deal at that moment in time And when that happens to you, you have what it takes to start to turn your financial situation around I love that she wrote in That has bothered me ever since she was on the air She goes on I'm not going to read it all but four deaths in those two years Unbelievable. Close to her That was heavy, huh? How I knew it, it just didn't make sense But here is what makes sense And this is something you don't need any rationalization for if you ask me I want you to come here every single Saturday night I want you to stick with me for the whole hour I want you to learn what we have to teach you right here on the Suze Orman Show So until next Saturday night, there's only one thing that I want you to remember when it comes to your money And it is this people first, then money, then things Now you stay safe Bye --- *Источник: https://ekstraktznaniy.ru/video/34982*