Feb 13 Oprah Show: Suicide, Lies, Debt - A Suburban Nightmare (w/ Suze Orman)

[scfr]

Today's Oprah show looks like it will be a real eye opener for anyone living beyond their means, especially if they let their spouse handle all of the finances. It might not be relevant to anyone who visits this forum, but if you know someone who might learn from it, please pass the word.

A Financial Suburban Nightmare

At the end of the above link, it will tell you how you can download a free copy of Suze's book "Women & Money" but it will only work until 7pm central time tomorrow (Feb 14).

[aida2003]

Even if it doesn't apply to us and I don't like watching TV that much, I'm going to watch this if I don't forget by the time I get home and if it show on a station my "Rabbit ears" can catch

[jIM_Ohio]

This is a good reason to make sure both spouses know something about finances. I do not control day to day checkbook in our house. So I ask around once per month a question just to see the response I get.

"has this bill came yet"- there is one credit card I use for gas and occastionally I put something else on the card to ask that question.

"has this soccer check been deposited"

"which account is that money in I earned 6 months ago"

And the life insurance being cancelled is a good reason for all spouses to know what's going on.

[ceejay74]

Fascinating--and there are lots of other stories just as interesting in the "Oprah's debt diet" section. It's great that she's getting people to rein (though they spell it "reign" LOL) in their spending, but some of the quotes are laughable after being a member of this site for a year: "Carmela has even started giving herself manicures and pedicures at home to save money!" WOW, what a self-sacrificing saint! :-P

[texastek76]

Fascinating--and there are lots of other stories just as interesting in the "Oprah's debt diet" section. It's great that she's getting people to rein (though they spell it "reign" LOL) in their spending, but some of the quotes are laughable after being a member of this site for a year: "Carmela has even started giving herself manicures and pedicures at home to save money!" WOW, what a self-sacrificing saint! :-P

Could be worse - I have seen some people spell it rain. "We need to rain in our spending".

I am amazed out how many of my friends keep their wives in the dark about things. My wife or I would never make any financial decisions without first consulting the other.

[maat55]

My wife is interested in watching this show tonight, I hope it scares the hell out of her. I'm the workhorse in our financial plans.

[disneysteve]

I found the episode to be disappointing. The story was too bizarre, I think, for the average person to relate to it. It did raise some good points, though.

I also don't particularly care for times when Suze Orman goes beyond financial advice and starts playing Dr. Phil. I think she's great and I love her show, but I'd prefer that she stick to the financial stuff.

[asmom]

I also don't particularly care for times when Suze Orman goes beyond financial advice and starts playing Dr. Phil. I think she's great and I love her show, but I'd prefer that she stick to the financial stuff.

I couldn't agree more. When she veers toward the psychological, it's almost always a disaster. A couple of weeks ago, a woman called in because her husband had a spending habit and was addicted to flea market shopping. She told the woman to gather all of his stuff and in front of their daughter confront him and tell him that he was destroying their future and robbing their daughter of her college education. Bad, bad advice Suze.

[Tree0164]

I couldn't agree more. When she veers toward the psychological, it's almost always a disaster. A couple of weeks ago, a woman called in because her husband had a spending habit and was addicted to flea market shopping. She told the woman to gather all of his stuff and in front of their daughter confront him and tell him that he was destroying their future and robbing their daughter of her college education. Bad, bad advice Suze.

I saw that too. She offered no financial advice there. He was spending $400 a month on this stuff. Maybe give him some black and white numbers on how this is impacting. She was claiming his manhood was threatened because the wife makes more. Ackk......

I usually like Suze but lately find her playing Dr Phil instead of money advice. too many How does that make you feel. Give money advice. I understand that there is some psychology behind money decisions

[aida2003]

Well, I decided against watching Oprah after reading some of the stories on her 'Money' site. I thought reading a book in the bed is more relaxing

[FrugalFish]

I also don't particularly care for times when Suze Orman goes beyond financial advice and starts playing Dr. Phil. I think she's great and I love her show, but I'd prefer that she stick to the financial stuff.

I have to agree, but I do believe she started out with a degree in sociology- not positive on that. Also have you watched Dr. Phil lately? I can't stand that guy anymore, he's turned into Springer only not as entertaining.

I thought the show was interesting, but I couldn't help thinking how interesting it would be to hear the dead husband's side of the story. As sorry as I felt for her, I had to wonder if she was responsible for a lot more of the problem than she was willing to admit. It's very easy to play the ultimate victim when no one is there to give the other side.

[disneysteve]

I thought the show was interesting, but I couldn't help thinking how interesting it would be to hear the dead husband's side of the story. As sorry as I felt for her, I had to wonder if she was responsible for a lot more of the problem than she was willing to admit.

Yes. Didn't she say she had closets full of clothes with the tags still on and dozens of pairs of shoes? At the beginning, I thought this was going to be a shopaholic episode.

[Scanner]

I disagree 100% on the consensus on Suze Orman.

Yes, to a "sophisticated investor" like some of us, some of her advice is rather "simpleton."

But what makes her so successful is that she focuses on the people aspect vs. the "punching numbers" aspect, something that all financial planners/advisors should take notice.

All business (or most) is a people business.

DisneySteve can relate - he's not in the family medicine business - he's in the people business - if he can't convince that diabetic to take his medicine, that person will die or lose limbs. I don't care how well he understands pharmacologic interactions, the physiology of Islet cells, and it's co-morbid effects on other body systems.

It all comes down to Joe Schmoe, sitting on his exam table, with a lifetime of issues.

It's the same with finances. They don't have financial problems as much as they usually have marital issues, health issues or something unseemingly related to finances.

Finances are only the symptom - usually the cause is somewhere else.

Anyone who serves the public is in the psycholog business by default.

[Broken Arrow]

Good points Scanner!

I had thought of something similar, since SA isn't representative of the average populace when it comes to financial matters. I just didn't pipe up about it.

[disneysteve]

I disagree 100% on the consensus on Suze Orman.

Yes, to a "sophisticated investor" like some of us, some of her advice is rather "simpleton."

But what makes her so successful is that she focuses on the people aspect vs. the "punching numbers" aspect, something that all financial planners/advisors should take notice.

I agree completely that there is often more to finance problems than dollars and cents. There are often deep-rooted emotional issues. On the Oprah episode, for example, the woman was in an abusive relationship. You can't just fix that by saying, "Spend less money."

I just don't enjoy when Suze Orman gets away from the financial end of things. I think she is very good at giving financial advice but not so great at the other stuff. I would have preferrred this episode if they would have had Suze do the money stuff and someone else do the psychological stuff.