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Yahoo
27-05-2025
- Business
- Yahoo
5 Suze Orman Money Tips For a Financial Fresh Start
Financial guru Suze Orman has long been dedicated to helping the average American reach financial freedom. In an article posted on 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. Read Next: Learn More: GOBankingRates highlighted five of Orman's standout, practical and realistic tips. 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.' For You: 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. 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.' You may be 25 or you may be 55. Though your retirement plan could look different depending on your age, you must, have one in place and it must be active. Orman provided a guide here: 'In your 20s and 30s, aim to keep 80% in stocks and just 20% in bonds; you have time to ride out stock swings,' she said. 'As you age, slowly ramp up the percentage in bonds; in your 50s and 60s, consider keeping 40% or more in bonds to help buoy your portfolio when stocks are slumping. 'The biggest mistake you can make is to stop investing in your retirement accounts or to shift money from stocks into 'safe' money market accounts.' Pretty much every financial expert and seasoned investor knows the importance of diversification. This means having your investments spread among a number of different categories. In 2025, ensure your investments aren't stuck in just one place. Keep your eggs in a number of different baskets. 'Try to reduce any company stock you own in your 401(k) to less than 10% of your total retirement assets. Just ask employees of Enron, Bear Stearns, Merrill Lynch and Washington Mutual how smart it was to make big bets on their own stock,' Orman said. 'Mutual funds and exchange-traded funds (ETFs) are ideal for retirement savings because they own dozens of stocks in their portfolios.' Just as you don't need a lot of money to start investing, you don't need a lot of money to diversify your investments. So, get to it in this so very young year. More From GOBankingRates 8 Common Mistakes Retirees Make With Their Social Security Checks 4 Affordable Car Brands You Won't Regret Buying in 2025 This article originally appeared on 5 Suze Orman Money Tips For a Financial Fresh Start Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-05-2025
- Business
- Yahoo
Suze Orman's 5 Basic Money Rules To Get You Started on the Right Track
When it comes to financial decisions, sometimes it's best to get back to basics. Whether you are looking to improve your credit score or your financial literacy, there are many positive steps you can take to build your net worth. Up Next: For You: Financial expert and bestselling author Suze Orman is known for her easy-to-follow, no-nonsense money advice that can help people find financial freedom. She is known for saying, 'You are never powerful in life until you are powerful over your own money.' According to Orman, there are several steps you can take to assert control over your finances. It is never too late to get started. Orman's advice is beloved because it is uncomplicated. The simplicity helps for people to be able to follow it and meet their financial goals in a reasonable amount of time. Here are some of her best basic money rules to get you started. Orman frequently speaks about living within your means. One way to do that is to tackle your credit card debt. She recommends that individuals call their credit card issuer and ask for the interest rate to be lowered. She notes that the average interest rate on credit cards is around 22%, which is high. So, a good money rule of thumb is asking for a reduction to help save you substantial amounts of money each month. She also suggests seeing whether you qualify for a 'balance transfer deal.' In some cases, you might be able to snag a zero-interest rate for a 12- to 18-month period. Over that time, you can work to pay off your balance without having to worry about the interest. Read More: Another area that Orman regularly recommends is to have a healthy emergency fund. She often recommends that you should aim 'to have an emergency savings fund that can cover up to 12 months of living costs.' An emergency fund can help to ensure you can withstand any financial hardships that come along. Orman firmly believes in creating a financial action plan, such as her 5-Step Financial Action Plan on In it, she suggests that individuals pay off their credit card debt and raise their FICO scores before creating spending, savings and retirement strategies. Your spending action plan begins with separating all of your expenses into wants and needs. Next, you identify all of the wants. Then, you eliminate the wants if you do not have sufficient savings or are carrying large amounts of debt. Orman also routinely recommends you automate your savings. Her reasoning behind automation is it 'is a proven way to stay committed to a savings goal.' She notes that it doesn't necessarily matter how much you are moving over, as long as you are moving it over consistently. She said, 'Having money zapped from your checking account into your savings accounts is free, too. The 'set it and forget it' approach is how you will reach your savings goals.' If you are looking for ways to start doing this, you could try something like the 50/30/20 rule, which is a budgeting option to break down and allocate your paycheck into percentages. For example, each money, you could automatically allocate 50% of your funds to cover things you need, 30% to things you want and 20% can get directly deposited into our high-yield savings account. Finally, Orman said individuals — particularly young adults — should open Roth accounts. She even suggests that parents set up a Roth account for their children if they can. Outside of real estate, investing in retirement accounts should be one of your biggest money moves. Make sure to do the maximum amount of contributions if possible. Caitlyn Moorhead contributed to the reporting for this article. More From GOBankingRates 6 Used Luxury SUVs That Are a Good Investment for Retirees 9 Downsizing Tips for the Middle Class To Save on Monthly Expenses 7 Overpriced Grocery Items Frugal People Should Quit Buying in 2025 7 Luxury SUVs That Will Become Affordable in 2025 This article originally appeared on Suze Orman's 5 Basic Money Rules To Get You Started on the Right Track Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19-04-2025
- Business
- Yahoo
Suze Orman: 6 Brutally Honest Money Tips To Follow Now
Financial guru, author, motivational speaker, financial advisor and self-made millionaire Suze Orman is a go-to expert in the personal finance space. Part of what helps her stand apart from her peers is the way she lays her thoughts and advice out. She's 100% no-nonsense and tells it like it is, or, rather, how it is from her knowledgeable, experienced perspective. Discover More: Find Out: You might describe Orman's communication style as blunt and assertive — and all the more power to her for that. Sharing financial wisdom shouldn't be done in a walking-on-eggshells manner. It's just too important. Let's consider six of Orman's tips that are particularly brutally honest. Follow them now to build wealth and secure financial freedom. Many financial experts recommend having a three-to-six-month emergency fund available at all times. Orman is more aggressive. She recommends having at least eight months of money at the ready to cover unexpected costs. 'Every family should have an emergency savings account that can cover at least eight months of living expenses,' Orman wrote in a post on 'And I also want every woman to have her own personal savings account that could support her for at least three months.' You probably know by now that credit cards are dangerous tools. You shouldn't avoid them 100% (they're important to have for your credit score), but you should use them as seldom as possible and only if you're sure you can cover the balance in full every month. Like many financial experts who have seen the damage credit cards can do far too many times, Orman recommends opting for cash or debit cards over credit cards. 'There is no more expensive form of bondage than spending more than you have and paying interest of 15% or more on your credit card,' Orman wrote in a blog post. Read Next: Back to the issue of credit card debt. If you're carrying any, you need to prioritize eliminating it. How you do this depends on how much debt you have and how possible — or impossible — it is to pay it off. 'I generally encourage people to make good on debts when they have enough money to repay them,' Orman told 'But once a delinquency has been reported to a collection agency, paying it off won't help your FICO score. 'The damage has already been done, and the blemish will remain on your credit report for seven years. At this point, I'd recommend that you negotiate with the debt collector so you can repay a smaller amount and keep more of your savings.' Saving money is a must, and to do it regularly, Orman advises you set up automatic deposits from your checking account into your savings account. 'It can be $10 a month, $200, or $1,000. That's up to you, and each account can have a different contribution amount,' Orman wrote in a blog post. 'All I insist is that you make this automatic. That is a proven way to stay committed to a savings goal. Having money zapped from your checking account into your savings accounts is free too. The set it and forget it approach is how you will reach your savings goals.' The average life span in the U.S. is 77 1/2 years — but, of course, some people live to be far older. Save and invest for retirement as though you'll be among those blessed with super longevity. 'You know that I have long recommended that you base your retirement planning on living to at least 90; to be even safer planning to age 95 is even smarter,' Orman wrote in a blog post. 'Anyone who makes it to age 65 basically has a 50-50 chance of still being alive in his or her mid 80s. And living into your 90s is not nearly as rare as you may think.' If you're an investor (and hopefully you are), you've surely heard this before: Be patient; compound interest doesn't accumulate overnight. Investing is a long-haul game. Play it wisely and calmly. 'All you really need to do is check your account once a year to see if you need to make any changes to bring your overall allocation back to your target,' Orman wrote in a blog post. 'For instance, if your goal is to have 60% in stocks and 40% in bonds, but after a strong period of stock market performance your mix is now 70/30, you might want to either sell some stocks and reinvest that in bonds, or maybe direct all your upcoming contributions into bonds to bring your mix in line.' More From GOBankingRates Mark Cuban: Trump's Tariffs Will Affect This Class of People the Most4 Affordable Car Brands You Won't Regret Buying in 2025How To Get the Most Value From Your Costco Membership in 20255 Types of Vehicles Retirees Should Stay Away From Buying This article originally appeared on Suze Orman: 6 Brutally Honest Money Tips To Follow Now Sign in to access your portfolio
Yahoo
10-04-2025
- Entertainment
- Yahoo
Michelle Obama addresses divorce rumors about her and Barack Obama
Former first lady Michelle Obama is setting the record straight about her marriage to Barack Obama. In part two of her conversation with Sophia Bush on the "Work in Progress" podcast, Michelle Obama addressed divorce rumors that have circulated about her and the former president after he had attended several events solo earlier this year. While talking about making her own decisions this year, she mentioned how making choices for herself hasn't always been received positively by others. Barack Obama comments on his now-viral photobomb cherry blossom picture "The interesting thing is that when I say 'no,' for the most part, people are like, 'I get it' and I'm OK," Michelle Obama began. "That's the thing that we, as women, I think we struggle with disappointing people, you know?" She continued, "So much so that this year people were -- they couldn't even fathom that I was making a choice for myself, that they had to assume that my husband and I are divorcing." "This couldn't be a grown woman just making a set of decisions for herself, right? But that's what society does to us. We start actually finally going, 'What am I doing? Who am I doing this for?'" she added. "And if it doesn't fit into the sort of stereotype of what people think we should do, then it gets labeled as something negative and horrible." Elsewhere in the podcast, the former first lady and bestselling author said, "I feel like it's time for me to make some big girl decisions about my life and own it fully." "Because if not now, when? What am I waiting for?" she said. "Because look, the summers are -- we're in summer countdown at 61 right? It's not so tragic if something happens to you and you're 80. So now is the time for me to start asking myself these hard questions of who do I truly want to be every day?" In January, Barack Obama attended former President Jimmy Carter's funeral without his wife. He also attended the inauguration of President Donald Trump solo that same month. On Valentine's day in February, Barack Obama shared a sweet photo with Michelle Obama and captioned the post, "Thirty-two years together and you still take my breath away." MIchelle Obama shared the same photo in her own post and wrote, "If there's one person I can always count on, it's you, @BarackObama. You're my rock. Always have been. Always will be." The couple have opened up about their romance multiple times in the past. Michelle Obama gets sweet happy birthday message from Barack Obama Barack Obama told that he met Michelle Obama in 1988 in Chicago, when she was a 25-year-old lawyer at a corporate law firm and he was a summer associate finishing law school. In 2008, Michelle Obama told ABC News that her firm was behind their meeting. "Because I went to Harvard and he went to Harvard, and the firm thought, 'Oh, we'll hook these two people up,'" she said. "So, you know, there was a little intrigue, but I must say after about a month, Barack, about a month in, asked me out, and I thought no way. This is completely tacky." They tied the knot on Oct. 3, 1992, and share two daughters together: Malia Obama, 26, and Sasha Obama, 23. Michelle Obama addresses divorce rumors about her and Barack Obama originally appeared on
Associated Press
08-04-2025
- Business
- Associated Press
Global Impact Influencer Germany Kent To Be Honored At Annual Legacy Builder Awards
Germany Kent will receive the 2025 Legacy Builder Award for her outstanding contributions to social change, mental health awareness, diversity, and empowerment. An award-winning author and media personality, Kent inspires global transformation through her leadership, activism, and philanthropy. Los Angeles, CA, California, United States, April 8, 2025 -- The Legacy Builder Awards will present Germany Kent, a global thought leader, media personality, producer, and philanthropist, with a 2025 Legacy Builder Award at the annual gala in Southern California. This award recognizes the MVP's of the community, hailed as community champions who have exemplified excellence in building a legacy. Ms. Kent is, perhaps, best known for her critically acclaimed literary works, storytelling, and social activism. As an international award-winning and best-selling author, she is leaving a legacy through her writings and more than 2,000 quotes which are widely published across the Web. She has helped to create conversations that have impacted social change issues and influenced and shaped the opinions, beliefs, and actions of people across the globe. The Hall of Famer is a uniquely positioned authority as a Rise Global Power 100 Social Media and Marketing Influencer and transcends boundaries to make a lasting and significant contribution to the state, nation and world. One of the world's leading authorities on optimism and self-empowerment, Ms. Kent is being honored for her consistent dedication to advancing equity and her exceptional courage in advancing the human rights of others. As a community champion, she has addressed systemic barriers, created pathways for marginalized individuals, and dismantled inequalities. Throughout her impressive career in corporate America, higher education, in the entertainment industry, and as a former FOX News anchor, Ms. Kent has continued to blaze trails. She maintains a focus on diversity and inclusion and developing future leaders. She founded the initiative Producing Hopeful Souls ensuring a vital pipeline of talent and helping others with cutting-edge mentoring opportunities in media, the arts and entertainment. A staunch advocate for mental health awareness, Ms. Kent believes in raising awareness for causes that benefit humanity and acknowledges her responsibility to serve society. She also uses her voice and platform for suicide awareness and prevention. She is a champion for youth and women's empowerment, advocating for anti-bullying, literacy and volunteerism. Ms. Kent has become a global sought-after media pundit frequently quoted in national and international media. Her inspiring words lauded her on TODAY's Powerful Women list in 2023 and a featured wise wordsmith on in 2024. In 2015, she was nationally recognized by Inc. magazine, Fast Company, Bloomberg, the Dallas Morning News and others for changing people's perspective on social media etiquette. She has served on numerous advisory boards, commissions, coalitions, government associations, and task forces and has been highly effective in organizational transformation through leadership and culture. Her transformative work has included that of a victim advocate to law enforcement to help build trust and rapport with victims and increase awareness to break down potential barriers. She recently was instrumental in the passing of a new health policy for the Los Angeles Department of Public Health. Throughout her illustrious career, Ms. Kent has accumulated an impressive array of accolades, including being crowned in state and international pageants. She has been recognized at the National Press Club by the Society of Professional Journalists for excellence in journalism. She was tapped by the Global Christian Professional Women's Association to host with headliner Anne Graham Lotz, Billy Graham's daughter and was selected by Soledad O'Brien as a panelist for the national PowHERful enrichment conference empowering girls. In 2017, Ms. Kent was honored with a prestigious Lifetime Community Service Award by Alpha Kappa Alpha Sorority Inc., a global service organization with over 360,000 members. That same year, she received her own 'Germany Kent Day' in her native Mississippi. Legacy Builder Awards is the vision of Shenae Johnson-Allen x The Allen Project to bring together the unique synergy of the Faith-based marketplace. She and her spouse Dewayne are leading a team to curate the signature event of the season. As a visible philanthropy effort, the Legacy Builder Awards encompasses the spirit of building a better and more sustainable future together. 'Ms. Kent is a great inclusion as a 2025 Legacy Builder,' said Shenae Johnson-Allen, Founder & CEO of the Legacy Builder Awards. 'Legacy Builders are Community Champions. She was selected for her actions, leadership, and vision to inspire others to act, collaborate, and invest in the well-being of the collective whole. Our nominees are people's choice champions who inspire and empower others, shaping a brighter future through their tireless efforts, passion, and commitment to raising the bar.' 'Being a Legacy Builder speaks well of Ms. Kent,' Johnson-Allen said. 'She is also being recognized for her impact and influence and a heartfelt recognition because she lives to inspire with both grit and grace.' 'Through Ms. Kent's recognition as a hometown hero, her efforts not only shape today but also lay the foundation for a better tomorrow giving her the spotlight of honor well deserved,' Johnson-Allen said. 'By highlighting her achievements, others may be inspired to follow in her and other Legacy Builders' footsteps and build communities that thrive on compassion, unity, and shared growth. We're excited to celebrate the outstanding achievements of our community's finest individuals,' she said. Johnson-Allen added, 'At the heart of the Legacy Builder Award is the celebration of individuals and organizations that embody the spirit of community, service, and positive change. Our purpose is to give honor by highlighting achievements that encourage others to build legacy in our communities through collaboration.'. 'I'm honored and humbled to receive the 2025 Legacy Builder Award, as I believe that one of my primary purposes in life is to inspire others to realize their greatest potential,' Kent said. 'I like helping people and have the desire to do whatever I can to help future generations and inspire a culture of service and meaningful change,' she added. The foundation will present the award to Ms. Kent on Sunday, April 13, during its annual Legacy Builder Awards with this year's theme 'Grit & Grace' honoring those who are making a difference every day. Learn more here. LEGACY BUILDER AWARDS recognize individuals and organizations whose exceptional dedication and leadership have created lasting positive change in our community. These champions inspire and empower others, shaping a brighter future through their tireless efforts, passion, and commitment to making a difference. The annual event celebrates those who have gone above and beyond to build a legacy of compassion, service, and progress for generations to come. Their contributions continue to uplift, strengthen, and unite us all, setting a powerful example for future leaders and changemakers. Contact Info:
