N'DIGO - MoneySmart Guy Matthew Sapaula

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Should Suze Orman Finally Admit She Was Wrong?

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Matt Sapaula

I am a proud father, financial strategist, TV commentator and financial talk show host of Money Smart Radio

Is the advice of a premier TV financial guru's starting to change and buckle?  Is the mantra of her traditional financial recommendations to millions of viewers starting to take a turn based on how unprecedented this recession has become? 

My good friend, Arnel Castillo who is a mortgage professional at American Street Mortgage, shared this video with me and I was shocked. Since I have been involved in the financial planning community for over 10 years, the rumblings of financial planners around me never approved much of what Suze Orman has had to say.  I'm not here to diminish a financial guru's image, but this video from Squawk on the Street may reveal why they feel that way:

What do you think?  What has been your opinion been on Suze Orman and her financial advice?  What is your financial gameplan for 2010 as it relates to paying off debt and building an emergency fund?  Which one are you going to do first?

We'd all like to know...plus, I will read your feedback and comments during our next financial talk show episode of Money Smart Radio. 

By the way, here's a free podcast download of our latest episode on our radio show's blog on Why Getting a Large Income Tax Refund Puts the Joke on You.

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1 Comment

jpw328 said:

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I agree with Suze on this. Maybe not just pay the minimum off, but not to bring the account down to zero. I did that, and the bank closed the account. Other cards increased their balance interest rates. For the ones I pay off, that's not much of a problem. For one I had with a balance, I either had to pay the significantly higher interest rates, or close the account to further charges, to get the old, lower interest rate.

Those CNBC and your financial planning aquaintances really show their ignorance of reality. The Executive Director of the Northern Illinois Food Bank was recently quoted about the significant increase in college educated, executives, now showing up at food pantries.

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