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She says it was "the most stupid thing I’ve ever done with money." In the end, spending money you don’t have to impress others will leave you with shallow relationships and stressful bills.
Work hard, invest wisely, and reap your fortune when you’ve made it.
When a friend or family member in need asks you to co-sign a loan, Orman says the only correct response is to turn them down.
As she puts it: "Don’t be afraid to say 'no to others and say 'yes' to yourself." When you co-sign a loan, you become legally responsible for paying back the money.
She says delaying Social Security until you reach 70 will give you a monthly benefit more than 75% percent higher than what you'll get if you start at 62.
"Sometimes it makes sense to own a home," Orman tells Best-selling author, TV host and personal finance guru Suze Orman has been inspiring Americans for decades to make better money moves and avoid serious financial mistakes.She'll be the first to tell you that what you don't do with your money may be even more important than what you do with it."Don’t think that they’re always going to have your best interest at heart, because probably they have their own best interest at heart,” Orman says.When selecting a financial professional, make sure he or she is a "fiduciary," which means your adviser has a legal duty to act in your best interest.
However, credit cards have much higher interest rates.