When it comes to personal finance, Suze Orman is clear: You are the best person to take care of your financial future. In a recent episode of her “Women & Money” podcast, she reminded listeners that “the government can’t save you,” and encouraged everyone to take responsibility for three key areas: debt, income and expenses, and investments.
Here’s how Orman breaks it down — and what actions she suggests taking now.
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Orman separates debt into two categories: good and bad. Good debt might include a mortgage or a car loan — especially if you need the car to get to work. Bad debt, on the other hand, usually comes in the form of high-interest credit card balances used for nonessential spending.
If you’re dealing with credit card debt, Orman suggests organizing your cards by interest rate, from highest to lowest. Write down the minimum payment due on each…
