DINARRECAPS8 6/3/25 DINARRECAPS8 6/3/25

'Rich Dad Poor Dad' Author Warns 'The Biggest Crash In History Is Coming'

Anand Sinha Mon, June 2, 2025 TheStreet

Robert Kiyosaki, the author of the bestselling book "Rich Dad Poor Dad," has issued another stern warning about the market.

The personal finance writer recently took to X to voice his persistent concern about "the biggest crash in history" that he says is coming as predicted in his book, "Rich Dad’s Prophecy" (2013).

When the stock, bond, and real estate markets crash this summer, millions of people, "especially my generation of boomers," will be wiped out, he warned.

Anand Sinha Mon, June 2, 2025 TheStreet

Robert Kiyosaki, the author of the bestselling book "Rich Dad Poor Dad," has issued another stern warning about the market.

The personal finance writer recently took to X to voice his persistent concern about "the biggest crash in history" that he says is coming as predicted in his book, "Rich Dad’s Prophecy" (2013).

When the stock, bond, and real estate markets crash this summer, millions of people, "especially my generation of boomers," will be wiped out, he warned.

Robert Kiyosaki

@theRealKiyosaki

Do not say I didn’t warn anyone. As predicted in my book Rich Dad’s Prophecy (2013) the biggest crash in history is coming. I am afraid that crash time is now and through this summer. Unfortunately, millions, especially my generation of boomers will be wiped out when the stock and bond markets crash. The good news is millions who are proactive may become extremely rich… and as you know….I want you to be one of those who become very rich. To read more: LINK

However, Kiyosaki seemed to offer a way out to "proactive" individuals who can not only survive this crash but may even become "extremely rich."

Billions of traders will shift to gold and Bitcoin — the "digital gold," as Bitcoin proponents like to call it, Kiyosaki predicted. He placed his biggest bet on silver, though:

As per Kraken, Bitcoin was quoted at $104,446.51 at press time, 6.7% lower than its May 22 record high of $111,970.17. Gold was trading at $3,372.30 per oz. at press time, 4% lower than its Apr. 22 record high of $3,500.

Meanwhile, silver was exchanging hands at $34.58 at press time, 30% lower than its record high of $49.95 per oz. that it reached way back in January 1980.

It is this price dynamic of silver that Kiyosaki said he was going to exploit. Gold and Bitcoin are also on his cards.

The bestselling author asked his X followers:

What are you going to do tomorrow….grow richer or grow poorer? Please choose to get richer.

DINARRECAPS8 6/2/25 DINARRECAPS8 6/2/25

Finally Hit It Rich? Here are the Top 5 Reasons To Never Share That With Anyone

Finally Hit It Rich? Here are the Top 5 Reasons To Never Share That With Anyone (even your closest friends)

Vishesh Raisinghani Mon, June 2, 2025 Moneywise

If you’ve managed to accumulate some wealth, showing it off can often be tempting. After all, what’s the point of success if you can’t indulge in it?

However, a growing cohort of ultra-wealthy Americans are trying to conceal their wealth rather than flaunt it openly. Here are five reasons why stealth wealth or quiet luxury lifestyles are gaining traction and why you should consider concealing the true extent of your fortune.

Finally Hit It Rich? Here are the Top 5 Reasons To Never Share That With Anyone (even your closest friends)

Vishesh Raisinghani Mon, June 2, 2025 Moneywise

If you’ve managed to accumulate some wealth, showing it off can often be tempting. After all, what’s the point of success if you can’t indulge in it?

Privacy and security

Being publicly wealthy could make you a prime target for thieves, fraudsters and criminal gangs. According to Silicone Valley Bank’s coverage of a study by Experian and the Department of Justice, identity theft is 43% more prevalent among the affluent.

Organized criminal gangs have targeted celebrities like Kim Kardashian and Paris Hilton, while high-profile athletes in major leagues such as the NFL and NBA are at risk of targeted home invasions, according to an the FBI report obtained by ABC News.

Business Insider even reported that Warren Buffett evaded a kidnapping in the 1980s.

With this in mind, downplaying your fortune could be the best way to safeguard your privacy and protect your family.

Broken relationships

Money has an undeniable impact on your personal relationships, especially if your loved ones are not on the same page as you when it comes to finances.

While it’s not a good idea to hide your financial standing from a legal spouse, new friendships and certain family members may be another story. Roughly 57% of Americans admit to feeling envious of someone else’s financial situation, according to a 2023 finance survey.

Put simply, hiding your income and wealth could be a great way to sustain your relationships.

Avoid lifestyle creep

One of the pitfalls of flaunting your wealth is that it’s difficult to stop. Once you’ve bought a fancy house or luxury vehicle, downgrading could be embarrassing which puts pressure on you to sustain that lifestyle.

DINARRECAPS8 6/2/25 DINARRECAPS8 6/2/25

6 Money Lessons From Rachel Cruze That People Hate the Most

Nicole Spector Mon, June 2, 2025 GOBankingRates

“The truth hurts!” is the kind of puerile retort we’re used to hearing in elementary school scrimmages and on trashy daytime talk shows. Yet, sometimes, this is a pretty spot-on sentiment. Scientific research has found that hearing the truth really can be hurtful. But it’s also usually necessary for growth. And this applies to our financial lives as much as, if not more than, anything else.

In her more than 15 years of working in the personal finance space, Rachel Cruze has found that there are some money truths, or lessons, that especially rub people the wrong way. Here are the six things that Cruze teaches about money that folks hate to hear about the most.

6 Money Lessons From Rachel Cruze That People Hate the Most

Nicole Spector Mon, June 2, 2025 GOBankingRates

Don’t Buy a New Car Until You’re a Millionaire

No financial expert wants you to go out and buy a new car if you can’t afford it, but Cruze runs extra conservative here. She disapproves of anybody buying a new car if they have a net worth under $1 million. Many people don’t like her take, but it’s worth hearing out. New cars depreciate rapidly the instant you drive them off the lot. And they just keep plummeting in value over time.

“If you have the margin to be able to take that financial hit and it’s not a big deal in your world overall, then that’s OK to do,” Cruze said.

Eliminate Credit Cards From Your Life

We all know that credit cards can hurt us if we’re not careful, but we may not recognize just how careful we need to be. And we may not realize that credit card companies are constantly coming up with ways to seduce us into spending more. Think travel points and cash-back rewards.

Cruze advises people to stay away from credit cards entirely — advice people tend to find is unrealistic or overly aggressive. But honestly, most people aren’t paying off their credit cards every month, even though they know they should be. Additionally, a no-credit-card life is a pretty peaceful one.

“When you choose a life without debt, not only mathematically are you not sending your income to banks instead of keeping your income and investing it for yourself, there’s also an emotional aspect:When you have autonomy over your money completely … there is a level of peace that comes with that,” Cruze said.

Combine Checking Accounts With Your Spouse

DINARRECAPS8 6/1/25 DINARRECAPS8 6/1/25

Benefits of a Cash Budget – Part 2

Written by Sam -

In part 2, I explain how budgeting will help save you time in the budgeting process.

How Cash Will Cut Your Budgeting Time By 80%

Think for a second about entering transactions into financial software like Quicken or YNAB. What are most of the transactions? By far the majority of the transactions come from categories like groceries, household, or entertainment. They are purchases at the grocery store, or walmart, or the corner convenience store.

What if you took those transactions away. For most people, there are only a handful or two of transactions left that occur every month. You might have utilities, a cell phone bill, a few gas transactions, but that’s about it.

Benefits of a Cash Budget – Part 2

Written by Sam -

In part 2, I explain how budgeting will help save you time in the budgeting process.

How Cash Will Cut Your Budgeting Time By 80%

Most of Your Transactions Come From Just a Few Categories

This is a classic 80/20 example. 80% of your transactions come from 20% of your budget categories. In fact, I would guess that for many people it’s more of a 90/10 rule. 90% of their transactions come from 10% of the categories. If you’ve used financial software in the past, go check this out and see if it holds true. In fact, leave a comment and let me know if it’s true. I know for us it IS true.

Now I want you to think about the time you spend budgeting every month and what that time is spent on. If you’re like us it’s spent on entering and/or categorizing transactions from the previous month. It’s spent tracking down transaction #x and finding out what it was for. Either you don’t remember or your spouse spent it and he/she doesn’t remember. You spend time tracking down missing receipts. It’s all a big mess.

Well all of that craziness doesn’t have to be. In fact, I’m going to give you permission to stop entering every transaction. How can I do that? Well let me ask this: why do you need to enter all those transactions? Do you really want to know how much you spend on milk every month? Do you ever really care to know on an itemized basis what individual items you purchased in your grocery category?

I don’t think that’s the case. If you think about it, all you really care about is spending the amount you want to spend in any given category. Well I’ve just shown that you can accomplish this goal by using cash. You don’t accomplish this goal by tracking every little thing, if fact, doing so is a lag measure and won’t have any impact on how much you spend next month. You’ll just go through the same process taking a lot of time and experiencing the same or similar results.

One Entry To Rule Them All

So am I saying that we don’t enter in our grocery transactions? That’s exactly what I’m saying. We have one entry in YNAB that is a cash withdraw for our grocery category. We don’t keep receipts, we don’t enter individual transactions. And do you know what? We have achieved our goal of staying within our budget more frequently and consistently than we ever did tracking everything.

To be more specific, we have one cash withdraw, or sometimes two over the course of the month that cover a number of cash categories. At the end of the month, we may have as little as 10 total transactions in our register for the month and most of these are for automated transactions that are easy to identify, categorize and reconcile. It has literally changed our budgeting lives.

My cousin is a great example of how using cash can decrease your time spent budgeting. She pulls out cash for all of her non-automated expenses. She doesn’t even split the money into categories. She has such a good sense of how much money they need in the month for the various categories that she can consistently stay within budget even without categories.

At the end of the month, she has roughly 10 total transactions (if I’m remembering correctly) to deal with in reconciling her budget. Talk about quick and easy. Now I wouldn’t recommend lumping all your cash together at first, but as you get a better intuitive grasp on your spending over time, you can easily start combining your cash categories like she does.

The Myth of Tracking Everything

TO READ MORE: http://www.gettingfinancesdone.com/

DINARRECAPS8 6/1/25 DINARRECAPS8 6/1/25

Benefits of a Cash Budget – Part 1

Written by Sam

In this article series of articles, I have recorded somewhat of a manifesto for using cash in your budget.

That’s right, I’m talking about using cash in your budget. Using cash in your budget is a tough topic. People shy away from it and toss it aside as being too much of a hassle. I want to challenge you to put those beliefs aside for a moment and let me make a case for using cash.

The fact is, I know how you feel. Using cash in our budget was one of the things I fought against most. We started using cash as part of Financial Peace University. It was one of those concepts I was ready to ignore and tried to convince my wife that we shouldn’t use cash. But she wanted to give it a shot and since I’d agreed to follow the program, I reluctantly went along.

I’m glad I did.

Benefits of a Cash Budget – Part 1

Written by Sam

In this article series of articles, I have recorded somewhat of a manifesto for using cash in your budget.

I’m glad I did.

It quickly became clear how powerful using cash in your budget is. I was quickly converted and became a big advocate for using cash. In fact, I now consider it a requisite for having an effective budget. REALLY! I don’t know a single family who considers themselves successful at budgeting that doesn’t use cash.

On the flip side, I know plenty of people who struggle with their budget or struggle staying within their spending limits and are always trying to figure out why. Yet, they resist using cash. They just won’t give it a try. Or they give it a half-hearted try and quickly give up.

How We Saved $6,000 In One Year By Using Cash

So what was the result of using cash for me and Emily? Not only did we stay within our budget consistently for the first time in our marriage, but we actually spent $6,000 less the year we started using cash with no perceived decrease in lifestyle. It was mind boggling that we saved so much.

We saved an average of about $500 a month. We spent less on groceries, ate out much less, and no longer made impulse credit card purchases to the tune of hundreds of dollars a month. But I never would have thought those seemingly little things would make such a big difference in our savings.

The Advantages Of Using Cash

There are several advantages of using cash in your budget, but there are mainly two that I want to emphasize.

First, using cash makes it easy to control your spending and to keep within your budget.

Second, using cash will cut as much as 80% of the time spent reconciling your budgeting at the end of the month. While I’ve already showed you how to speed up your budgeting process, using cash is the thing that will have the greatest single impact in decreasing your budgeting time. My wife and I spend 30-60 minutes a month budgeting. THAT’S IT!

In this article I’ll be addressing the first advantage of using cash.

Before I jump in let me point out that I’m not saying you need to use cash for your WHOLE budget. In fact, there are some cases in which using cash doesn’t make sense. You’ll mainly want to use cash in those categories in which you tend to overspend. This may only be 2 or 3 categories.

Controlling Spending With Cash

The Power of Instant Feedback

Cash is the perfect instant feedback mechanism. It easy to keep from overspending because when the cash is gone, you know you’re done spending. It’s really as simple as that.

Alternative Ways to Track Your Spending

When using credit cards you are totally disconnected with how much you’ve spend and how much is left to spend. Some people try to track their spending by writing everything down in a notebook, but in my own personal experience and hearing experiences of others it’s very difficult to be consistent with a system like that. Inevitably you stop keeping track.

TO READ MORE: http://www.gettingfinancesdone.com/

DINARRECAPS8 5/31/25 DINARRECAPS8 5/31/25

11 Guidelines For Using Cash In Your Budget

Written by Sam

Here’s how to tell in which categories you should use cash.

1. You Don’t Have To Use Cash For Everything

To reap the benefits of using cash in your budget, you don’t have to go exclusively to cash. Some may choose to go exclusive, but it’s not necessary. Instead, identify which categories will be most effective for using cash using the tips below. You should use cash for categories where either you tend to overspend or where there are a lot of transactions in a month.

Groceries are a main perpetrator of both those criteria which is why I absolutely recommend funding that category with cash. Other problem categories are ones relating to household spending (light bulbs, cleaning products, etc), eating out, personal, and entertainment.

11 Guidelines For Using Cash In Your Budget

Written by Sam

Here’s how to tell in which categories you should use cash.

1. You Don’t Have To Use Cash For Everything

There are actually some categories where it is easier to NOT use cash. Specifically I’ll mention gas for your car. At first Emily and I used cash for gas but found it to be significantly more inconvenient, especially during the winter.

After looking at our gas spending we realized that we don’t tend to overspend on gas. Our gas budget went up and down depending on the price of gas, but we weren’t more likely to drive less by using cash. I still had to commute to and from work no matter what and we don’t take a lot of trips.

Gas purchases also weren’t hard to track in our financial software. We knew that if the transaction was at Texaco it was gas so it didn’t add any confusion at the end of the month. In the end we decided that it wasn’t worth it to use cash and now use a debit card.

Some categories are on the edge and could go either way. For example, haircuts is a category that I think should not be cash, but Emily likes it in cash. From my perspective it’s not hard to track haircut transactions. A transaction at SportsClips is self-evident. There aren’t a lot of haircut transactions. At most I will get one and Emilyi will get one. I’m also not likely to overspend and get haircuts more often if I’m not using cash. For me, this category doesn’t need to be in cash.

For Emily that’s not the case. She is more likely to get a haircut or styling if there’s money available for it. She also will let money accumulate from month to month and then get her hair colored with the extra money. She likes having the money in cash because as it accumulates it gives her permission to do something extra without guilt. Therefore, Emily prefers to have this category in cash.

In the end we do our haircut money in cash, but we could just as easily split the category into “his” and “hers” and do one in cash and the other not.

2. You Have To Commit For Cash To Work

When starting to use cash for chosen categories, you have to be willing to totally commit. If you have some transactions in cash and some on credit/debit card at the end of the month, you’re going to run into the same headaches you’ve always had. This means that ideally both spouses are on board. If your spouse resists, see if he or she is willing to give it a try for just a month.

TO READ MORE: http://www.gettingfinancesdone.com/

DINARRECAPS8 5/30/25 DINARRECAPS8 5/30/25

5 Basic Money Skills Many Americans Don’t Know

Ashley Donohoe Thu, May 29, 2025 GOBankingRates

A Pew Research study found that 46% of Americans didn’t have at least a fair amount of knowledge of personal finances. Unfortunately, lacking financial literacy can put you at risk of taking on too much debt, not having enough for retirement and being unable to cover expenses.

In a YouTube video, money expert George Kamel reacted to this study’s findings and gave straightforward advice on handling five essential money tasks that many American adults struggle with. Learn how to boost your skills in these popular weak areas.

5 Basic Money Skills Many Americans Don’t Know

Ashley Donohoe Thu, May 29, 2025 GOBankingRates

Checking Credit Reports

The Pew study noted that 25% of Americans didn’t feel very or extremely confident about getting their credit reports. While lenders and others may pull these reports to make important decisions based on your creditworthiness, you should also check them at least annually to spot errors or account issues and see where you stand with your debt.

Getting your credit report is easy, and you can do it weekly for free. While you could go directly to each credit bureau’s website, Kamel encouraged using AnnualCreditReport.com to get them all more conveniently. You’ll just need to provide some information to verify your identity. If you see any errors, contact your creditors and consider disputing them with the credit bureaus.

Budgeting

An estimated 41% of Pew study respondents weren’t very or extremely confident with budgeting. Not knowing where your money is going every month puts you at risk of overspending and not leaving some cash for your goals.

Kamel explained how to make a simple budget, starting with writing down your total monthly income and all expected monthly expenses (including giving and saving). You’ll then calculate what’s left of your income after those expenses, which Kamel said should be $0 based on his preferred zero-based budgeting method. But the same doesn’t apply to your bank account balance.

“It’s wise to keep a buffer of at least $100 bucks or more in your checking account,” Kamel said. Once you’ve got your budget, start tracking expenses to make sure you’re sticking to your plan.

Paying Off Debt

A report from the Federal Reserve Bank of New York mentioned that U.S. households owed a total of $18.2 trillion in debt. Especially for the 43% of Americans lacking confidence in paying down debt, the monthly payments, interest and lost opportunities to invest make it hard to get ahead.

DINARRECAPS8 5/29/25 DINARRECAPS8 5/29/25

5 Money Mistakes Even Financially Savvy People Make

Cindy Lamothe GOBankingRates

No matter how great you are at managing your finances, no one is immune to making the occasional money mistake — and some of these can be dire.

“It’s important to recognize that some seemingly minor errors can have significant long-term effects,” said Michael Ashley, finance expert and founder of Richiest.

While everyone has financial blind spots, the good news is you can learn about them before they cause you problems. Here are some of the top money mistakes even the most financially savvy folks make.

Earning passive income doesn't need to be difficult. You can start this week.

5 Money Mistakes Even Financially Savvy People Make

Cindy Lamothe GOBankingRates

No matter how great you are at managing your finances, no one is immune to making the occasional money mistake — and some of these can be dire.

“It’s important to recognize that some seemingly minor errors can have significant long-term effects,” said Michael Ashley, finance expert and founder of Richiest.

While everyone has financial blind spots, the good news is you can learn about them before they cause you problems. Here are some of the top money mistakes even the most financially savvy folks make.

Earning passive income doesn't need to be difficult. You can start this week.

Neglecting to Regularly Review and Adjust Financial Plans

One common mistake, according to Ashley, is neglecting to review and adjust your financial plans regularly. “Many people assume that once they’ve set up a budget or investment plan, they don’t need to revisit it.”

However, changes in income, expenses or life circumstances can render old plans obsolete, potentially leading to missed opportunities or financial shortfalls.

Underestimating Small, Recurring Expenses

Another frequent issue is underestimating the impact of small, recurring expenses.

While a small subscription service or daily coffee might not seem like a big deal, Ashley said these expenses can add up over time and erode savings if not monitored carefully. “This can be particularly damaging in the long run, as the cumulative effect of these small expenditures can be substantial.”

Failing To Diversify Investments

According to experts, some people also make the mistake of relying too heavily on a single investment or income source.

“Diversification is a fundamental principle of financial management, and failing to spread out investments or income streams can leave you vulnerable to market fluctuations or job loss,” said Ashley.

He explained this lack of diversification can result in significant financial risk and instability.

“Truth is, thinking that you are good with money is one of the easiest ways to let your guard down and put yourself in a situation where you steadily miss out on financial advancement opportunities,” said Mafe Aclado, finance expert and general manager at Coupon Snake.

In her experience, one of the most common money mistakes people make — even when they are generally good with money — is failing to diversify their investments. Particularly frugal people, for example, have some good habits, like avoiding impulse spending, but they also avoid all but the most familiar and safe investments.

She said these people lay all their financial eggs in one basket. “And what makes this a huge money mistake is by concentrating all their investment[s], they run a huge risk of loss if the investment performs badly.”

https://www.yahoo.com/finance/news/5-money-mistakes-even-financially-160055894.html

DINARRECAPS8 5/29/25 DINARRECAPS8 5/29/25

10 Sources Of Emergency Cash, Ranked From Best To Worst

Christine Benz of Morningstar Tue, May 27, 2025

If unanticipated expenses exceed your emergency fund, here’s a look at where to go next.

1. Your Own Emergency Fund/Short-Term Securities

Emergency funds should be held outside of tax-sheltered wrappers and include highly liquid investments like bank savings accounts, money market accounts, and so on.

2. Low-Risk Assets In Taxable Account

Next, look at other taxable holdings: investments in brokerage accounts, outside the confines of tax-sheltered vehicles.

10 Sources Of Emergency Cash, Ranked From Best To Worst

Christine Benz of Morningstar Tue, May 27, 2025

If unanticipated expenses exceed your emergency fund, here’s a look at where to go next.

1. Your Own Emergency Fund/Short-Term Securities

Emergency funds should be held outside of tax-sheltered wrappers and include highly liquid investments like bank savings accounts, money market accounts, and so on.

2. Low-Risk Assets In Taxable Account

Next, look at other taxable holdings: investments in brokerage accounts, outside the confines of tax-sheltered vehicles.

When identifying possible securities that you could sell to raise funds, focus on liquidity, tax consequences, and any commissions you’ll owe.

3. Roth IRA Contributions

It’s never great to tap your retirement assets unless you absolutely need to, but the Roth IRA offers more flexibility and has fewer strings attached than other tax-sheltered retirement vehicles.

Specifically, you can withdraw any Roth IRA contributions at any time, without incurring penalties or tax—but you’ll have fewer retirement funds working for you.

4. Life Insurance Cash Values

Cash values that have built up in your whole life insurance or variable universal life insurance policy can be another decent source of emergency cash. You can withdraw money outright and have it deducted from your policy’s face value.

Another possibility is to borrow from the cash value of your life insurance. You’ll owe interest on the loan, and these rates can be reasonable but aren’t always low.

5. 401(K) Loan

A 401(k) loan is better than a hardship withdrawal because the interest you pay will get paid back into your account.

On the downside, borrowing from your 401(k) plan short shrifts your retirement savings. Not only will you have less money working for you in the market, but having to pay the loan back with interest also means you’re less likely to be able to make new contributions.

DINARRECAPS8 5/28/25 DINARRECAPS8 5/28/25

5 Things You Should Discuss During Your First Meeting With a Financial Advisor

Gabrielle Olya

A financial advisor can be an excellent resource to help you make a plan for your money both now and in the future. But if you’re new to this world, you might not know how to make the most of your time during an initial meeting. In today’s “Financially Savvy Female” column, we’re chatting with Jane Voorhees, CFP, director of financial planning at ALINE Wealth, about how to prepare for a first meeting with a financial advisor and what topics you should be discussing.

5 Things You Should Discuss During Your First Meeting With a Financial Advisor

Gabrielle Olya

What To Do Before Your Meeting

Before an initial meeting with a financial advisor, do some research into who they are and how they work. “Go to the advisor’s website and read through it,” Voorhees said.

She recommends looking for the answers to the following questions:

What are the advisor’s credentials (education, professional designations and licenses)?

What is the overall wealth management philosophy that is coming through or being portrayed?

Does the advisor have a team and if so, what role does each team member play?

Does the advisor work as a registered investment advisor (RIA) or do they work under the umbrella of a brokerage firm?

“Understand that RIAs operate under a higher fiduciary standard than broker-dealer firms,” Voorhees said.

What To Bring to an Initial Meeting

Once you’ve done some basic research to ensure you feel confident about the advisor you are meeting with, it’s time to set up the meeting. To make the most of this first meeting, come prepared with the proper financial documents.

“Bring investment and bank account statements, insurance policies, statements/details on debts you owe, your most recent tax return and a budget (if you have one),” Voorhees said.

What To Discuss During Your First Meeting With an Advisor

The first meeting is the time to make sure that you and your advisor would work well together, and that they are someone you are comfortable working with. Voorhees recommends asking about the following topics.

Their Process

“Ask the advisor about their wealth management process,” Voorhees said. “How do they analyze your individual situation and come up with suitable investment recommendations? How often will they review your portfolio/financial situation and meet with you either in person or by phone or Zoom?”

Their Pay Structure

You also need to find out how the advisor is compensated for their services.

DINARRECAPS8 5/28/25 DINARRECAPS8 5/28/25

5 Suze Orman Money Tips For a Financial Fresh Start

Nicole Spector Tue, May 27, 2025 GOBankingRates

Financial guru Suze Orman has long been dedicated to helping the average American reach financial freedom. In an article posted on Oprah.com, Orman delved into 10 of her top tips on how to get a fresh financial start, which can help you get your finances on track.

GOBankingRates highlighted five of Orman’s standout, practical and realistic tips.

5 Suze Orman Money Tips For a Financial Fresh Start

Nicole Spector Tue, May 27, 2025 GOBankingRates

GOBankingRates highlighted five of Orman’s standout, practical and realistic tips.

Break the Cycle of Self-Blame So You Can Move Forward

When we’re struggling to stay above financial waters, it’s all too easy to get sucked into a spiral of self blame. And look, you may be partly to blame for being in a bad place with your finances.

Maybe you went a little too wild with spending on the holidays and took on credit card debt. Maybe you took on a mortgage you can’t afford. Maybe you retired without having saved enough money to do so comfortably.

But you’ve got to stop beating yourself up about it. All of it. You simply can’t move forward while gripping the past.

“We are free to move forward only when we remove the emotional shackles of regret,” Orman wrote. “Deep breath, everyone. Exhale. Now you are ready to put your financial house in order.”

Get a Crystal-Clear Picture of Your Financial Situation

So, you may know the broad situation of your finances. For example you know you have debt, or you know you don’t have enough to retire early if things stay the way they’re going. But you need a finely-honed, crystal-clear picture of absolutely everything pertaining to your finances.

“I want you to open every single financial statement — bank, credit card, mortgage, 401(k), brokerage account — and take a look,” Orman said.

When doing this, look for opportunities to make things easier. For example, automate your recurring bills, as well as a savings portion from each paycheck.

Challenge Yourself To Save, Even Just a Little Bit More Money

Naturally, the best way to deal with a lack of savings is to save more. But “saving more” is such a vague sentiment. And it can also feel condescending.

How can we save more when we’re already spread so thin and barely getting by? Orman suggested the answer to this is to look at saving more as a challenge and to focus on key areas where trimming down costs won’t feel like much of a sacrifice.

This can be really simple and even satisfying. Start with your utility bills.

“I challenge you to reduce every one of your monthly utility bills by 10 percent,” Orman said. “I bet you can seriously trim your utilities by spending one afternoon increasing your home’s energy efficiency.”

Get Into the Nitty-Gritty of Your Retirement Plan