Three Money Moves You Don’t Want To Make
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Orman Media
4.8 • 4.2K Ratings
🗓️ 8 December 2019
⏱️ 22 minutes
🧾️ Download transcript
Summary
In this episode, Suze shares three recent conversations she’s had with friends and family about their finances. These people should have asked for Suze’s advice, but didn’t and are paying for their mistakes.
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Transcript
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| 0:00.0 | Hey, everybody. I want you all to take advantage of the incredible interest rates that a |
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| 1:00.7 | It's the week after Thanksgiving of 2019 and our Thanksgiving was going so, so great. We were all |
| 1:20.8 | having the best time. I was catching fish, the kids were swimming, everybody was just loving it. |
| 1:30.3 | And then it came the day that they were supposed to leave. And it's on that day that everybody, |
| 1:38.4 | all of a sudden, asked me financial questions. And I'm sitting down with my brother-in-law who I love |
| 1:45.1 | so much. And I come to find out that just two or three months ago, he refinanced his home. And I |
| 1:53.6 | said to him, why? Why didn't you ask me before you did that? And he just looks at me with this |
| 2:01.8 | blank stare. I said, why? Why would you refinance your home? Tell me that you refinanced your home |
| 2:11.7 | from maybe the 23 years that you had left on this mortgage to a 20-year mortgage. No, Susie, |
| 2:19.6 | I redid it to a 30-year mortgage. I'm like, are you kidding me? You refinanced to a 30-year mortgage |
| 2:29.5 | and then so proud of himself, he says. But Susie, I'm paying in extra $1,000 a month towards that |
| 2:38.5 | mortgage payment to get it paid off. And so then I say, well, if you're paying in extra $1,000 a |
| 2:46.0 | month towards it, why didn't you do a 20-year or a 15-year refinance, which would have been a half |
| 2:53.9 | a percent cheaper than a 30-year? And he just looks at me like, what? Do you know, do you have any idea |
| 3:02.0 | how aggravated I get when my own family makes financial moves that are just plain stupid? And they're |
| 3:11.3 | stupid, especially since all they would have to do is pick up the phone and call me. I was just |
| 3:18.5 | with him a week or two ago. He could have told me, I mean, wouldn't you like to be able to just |
| 3:25.1 | pick up the phone and call me and ask me, should I do this? Shouldn't I do that? What do you think |
... |
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