I love reading personal finance books, listening to Dave Ramsey on the radio, and watching anything on Hulu or CNBC about personal finance.
But let me tell you I have a hard time watching The Suze Orman Show. My jaw drops every time I watch her “Can I Afford It?” because of what she tells people.
I watched the June 11th episode today and she denied everybody’s plans to spend money when they had debt and not enough savings or retirement, but she approved the last guys $20,000 fishing boat. He had $94,000 student loan debt and $224,000 in liquid savings along with his retirement. She commented that the retirement was too low, but didn’t say anything about the student loan he was paying 4% interest on. She approved him because he had so much money saved away, but I think that she should have approved him and told him to pay off his student loan today!
Why wouldn’t you pay off your loans if you had the money sitting around? Why would you keep paying somebody money (interest) if you didn’t have too? Maybe it’s because I am cheap that I don’t like to pay more than I have to for something I buy (or that student loan that I don’t have).
Please leave comments – I love reading comments 🙂 Do you watch The Suze Orman Show? What do you think about her personal finance advice? Who is your favorite personal finance celebrity?