Suze Orman has the status of a financial guru. But I have never been able to understand why this self-proclaimed expert has such a following.
Imagine a celebrity chef who has given herself food poisoning, or a car expert who couldn’t change a tire.
Orman has said things about money over the years that make me think she’s more sizzle than steak. The following are prime examples.
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1. The impressive car she couldn’t afford
First, let me tell you the reason I finally wrote this article after considering it for years. In a 2017 CNBC story, Orman said:
“There was a time that I was in a relationship with a very, very wealthy person and I wanted to impress this person and I didn’t have money yet, so I went out and I leased a car. I leased a 750iL BMW, and my lease payments were like eight hundred dollars a month.”
There are people who will foolishly trap themselves into inescapable, multiyear contracts they can’t afford to impress themselves or others. Maybe you’ve met one. But someone who calls herself a personal finance expert?
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I’ve made money mistakes, and said as much in articles and podcast episodes like “My 10 Dumbest Money Moves.” But leasing an $800-a-month car I couldn’t afford because I was dating someone “very, very wealthy”? Nope. Not when I was 18, 21, 41 or ever.
If this were the…