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Suze's Advice on Stimulus Package

February 11th, 2008 at 05:09 pm

I have Suze Orman's Yahoo column listed on my homepage so that I can see whenever she writes a new article. Today's column is
Text is Stash it, Don't Cash It and Link is
Stash it, Don't Cash It. She advises using that check the government is sending you to either pay off high interest credit card debt, build your emergency fund or put it in a long-term investment.

Glad to know that Suze approves my plan!

12 Responses to “Suze's Advice on Stimulus Package”

  1. Broken Arrow Says:

    Glad to know she approves mine too. Big Grin

  2. disneysteve Says:

    Same here. Of course, all the people around here are not the mainstream Americans. When most people get "free" money, they are going to spend it, which is just what the government wants you to do.

  3. Aleta Says:

    It also helps those that are on the Financial Peace University plan that need $1,000 in their emergency funds as one of their babysteps.

    I have a friend that will get $1,500. She has credit card debt of $15,000. with an 17% interest rate. That $1,500 in going to help reduce her debt thus not paying interest on the reduced amount. She also commented that in order for her to come up with that kind of money she would have had to have earned more and been taxed at that. They are a married couple with 1 child. She sees this as a God send.

    Each person must do what is best for their financial plan and peace of mine.

    By the way, I read the same article this morning.

  4. Ima saver Says:

    I know that I am saving mine!

  5. threebeansalad Says:

    Ours will go towards DH's School Loan. The interest rate isn't sky-high, but the the principal is. It's the monkey on our back.

  6. Nic Says:

    Into the money market w/my $$$$.

  7. Dexter Says:

    I agree 100 percent on her advise as to the stimulus package, save not spend. Let's get real. Do we really need to feel sorry for the Walmart's, Target, Best Buys, BJ's, Costcos, K Marts, to name a few to stimulate the economy. The economy is messed up by many of us American's overspending more than we make, not prioritizing our needs vs luxuries and of course our governments waste of trillions of dollars on the war to name just a few. Too many people these days think it's more important to buy that plasma TV, ipod, multiple cell phones to name a few but have trouble paying their basic expenses like their homes, food, education and all expenses for our basic survival. Please, if we are going into a recession, I can assure you that we are not going back to bedrock on the Flintstones.

  8. Boo Boo Says:

    Way to go Suze Orman. I'm with you 100 percent on saving and not spending this rebate except to reduce debt. This is the same nonsense that the government told to American's to sacrifice on gas by buying mini uncomfortable cars in the 70's while the President, his men and of course all those overpaid CEO's wasted gas in their gas guzzling cars. This nation is slowly becoming a two class system the very rich and the very poor. Having money is one thing but having billions of dollars while others are left homeless to pick garbage is way out of line. This is nothing more than greed, greed, greed.
    As far as our American companies are concerned, they could care less about us as each day another American company is relocating south of the border to pay those measly $1 an hour wages vs a living wage for us Americans. Since they don't care, why should I care and bail them out. Sorry but I am doing the opposite of what the government tells me and save not spend. We have too much debt including myself and not enough savings and this is the richest country of the World? Tell me, do they have these overextended credit card debts south of the border?

  9. rduell Says:

    DH has been seeing the same thing at the company where he's worked for 18 years. Items that they make are being shipped to Korea to be made instead of being made in the U.S. And guess which pieces are returned time after time because they break? Not the ones that are made here! Yet, this company continues to push itself as an "American" company. They are very quiet about anything that is made overseas.

  10. Aleta Says:

    My brother lives in a small town in Florida and they're getting ready to build their 4th Super Walmart within a ten mile radius of each other. Walmart has already caused quite a few mainstream grocery stores there to go out of business. Walmart needs to sell in order to maintain all of those stores. Is it any wonder why so many companies are going out of business?

  11. Boo Boo Says:

    Here's the choice. Spend, spend, spend and spend like
    Walmart, Target, K mart, Sears, Macys, Victoria Secret, Bj's, Costco, McDonald's, AT&T, Sprint, Verizon, Ralph Lauren, Polo and many popular stores that are so rich money is coming out of their ears or
    SAVE, SAVE, SAVE, SAVE, SAVE and pay yourself or reduce your own debts. We will certainly not suffer greatly if
    there is one less Walmart, K Mart, etc to shop at but we will have a less red balance sheet at the end of the year if we save. You decide.

  12. Brenda Says:

    I agree that the reason we got into this mess is that most people are irresponsible in their spending habits. Saving your some of your money is the first thing you should do each time you are are paid. However, if you do need a new refridgerator or washer you should look into doing it now. Retailers are offers huge discounts if you use your fed check to buy in their stores. Make sure it is a neccesity and within your budget. I see nothing wrong with being a smart consumer.

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