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.
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?
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…