15 June 2010

QOTD - Suze Orman

Found this awesome video clip from one of my favourite famous women who do not work in the field of entertainment, Suze Orman:

Here is a partial transcript of quotes that I thought should be transcribed for all to see:

Back [in the 1980s], there were ethics. There were ethics with money, believe it or not. You couldn't buy a house unless you had 20% down. They didn't give you credit cards unless you had the money to get out of credit card debt. They didn't give you a financial rope so that you could hang yourself.

Today's economy is based on the ignorance of the people everywhere in the hopes that you're going to make some serious financial mistake that makes these people over here be able to meet their earnings reports for the stock markets and the this and the that.

Way back when, money made sense. You could go to the university and pay $100 a semester to attend. Now we have kids graduating college with more student loan debt than they have any idea what to do with. Good luck if they ever are able to afford to buy a home, no matter where they live. Their jobs are being shipped overseas. And i can go on and on and on. The price of a gallon of gasoline—are you kidding?

All of everything ties to politics. Today it is so hard, you know I did this whole thing, this whole book deal that i did called The Money Book for the Young, Fabulous and Broke. I should've called it The Money Book for the Young, Fabulous, Depressed and Broke. And there's a good reason that the young ones today—I call them the wife & beers—that they're depressed: because nobody has their back, financially speaking.

You can tell—can you not tell I'm an emotional woman? I am passionate. I believe in what i'm saying. I've been doing this for 30 years. I have, and it's like, I'm going like, give me some emotion back...

However, it's worthless but through our own actions we can tape [the ripped up $20 bill] back together; we can bring these parts together—we can! But you're going to have to do it yourself because here's the bottom line: the government isn't gonna save you. Nobody's gonna save you. YOU have what it takes to save yourself. So when it comes to your money, I want you to look in the mirror because that's the best financial advisor you're gonna find. Please people, if you think other people have your best interests at heart when it comes to your money, I don't think so!