Friday, February 13, 2009
Suze Orman Says:
1. Get out of debt
2. Pay bills on time
3. Don't miss a payment
4. Don't go over credit limit
5. Have health and life insurance (term insurance)
6. Don't take money out of your retirement fund to pay your mortgage. If you can't pay your mortgage, let your house go and find an affordable apartment
7. Don't ever cosign a loan (especially for your children)
8. Don't lend money to friends or family (if you want to "give" it to them, okay. But no "loans".)
Really? This is new? Is there anything here we haven't heard before?
When asked if anybody has ever put their FICO score up on Match.com, her response was, "They should. FICO first, then sex. Because you want to practice safe money." (Now that's seriously funny.)
According to Suze, we're in for a long haul. She says not to expect a turn around until 2015.
What I want to know is, how does she know? Did she ask Miss Cleo? Has she got a crystal ball? or did she just say that because she was asked?