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" I generally encourage people to make good on debts when they have enough money to repay them. But once a delinquency has been reported to a collection agency, paying it off won't help your FICO score. The damage has already been done, and the blemish will remain on your credit report for seven years. "

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" If you wait until your children are high school seniors to spring it on them that there's not a whole lot of money for school, they won't have too many options. "

Suze Orman

Money

High School

School

" In all realms of life it takes courage to stretch your limits, express your power, and fulfill your potential... it's no different in the financial realm. "

" Get rid of debt now. "

" There is no law saying you have to die before your assets can be passed to loved ones. In fact, gifting earlier can be a lovely way to witness how your money helps your family thrive. "

" A revocable living trust allows your heirs to avoid probate entirely and keeps you in complete control of your finances while you're alive. You can always make changes to what's in the trust and to how you'd ultimately like it managed or disbursed. "

" The advantage of online banking is that you can pay bills superfast, and your account is automatically credited or debited for each deposit and payment, making it easier to stay on track. "

" One journalist estimated my liquid net worth at $25 million. That's pretty close. My houses are worth another $7 million. "

" Rather than saying, 'My checking account is a wreck,' change it to 'I will learn how to track my spending and balance my checkbook.' "

" I get so frustrated when people tell me it's unrealistic to create an eight-month emergency savings fund, or have money saved for a home down payment, or pay off their $5,000 credit card balance. "

" Cut back your spending now. "

" Credit unions are often a better deal than banks and tend to pay higher yields on deposits. "

" I want to be clear here: It does not matter what you say in your will or trust; the beneficiary document attached to your IRA accounts and your life insurance policy overrides what you say elsewhere. If you want to change the beneficiary, you must change the beneficiary document. "

" Remember: If the IRS suspects you haven't reported income, it can challenge returns from the past six years. So if you are self-employed or have multiple income sources, hold on to six years of files to be absolutely safe. "

" A reverse mortgage is available to anyone who is at least 62 years old and owns a home outright, or has a small mortgage balance remaining. "

" Like your home's closets, your financial clutter needs an overhaul every now and again, and the payoff will go far beyond the psychic satisfaction of neatening up. "

" They got married, they got divorced, and half their money goes out the window. "

" If you're going to live in the house make it your goal to just pay off your mortgage. "

" Every portfolio benefits from bonds; they provide a cushion when the stock market hits a rough patch. But avoiding stocks completely could mean your investment won't grow any faster than the rate of inflation. "

" So many financial dreams are thwarted by the failure to act upon good intentions. "

" Understand and accept the cycles of money. The setbacks you may have today or next year will not keep you from financial freedom. If you hold on to your goals and dreams, you will get there. "

" It wasn't until I stood in my truth and told everybody that I had $250,000 in credit card debt. At that point, everything turned around for me. I had to reveal the truth about what I didn't have, more than pretend about what I did. That was interesting. "

Suze Orman

Interesting

Debt

" Never, ever invest money that you will need prior to three to five years - minimum. "

" You must recognize, embrace, and be honest about what is real for you today and allow that understanding to inform the choices you make. Only then will you be able to build the future of your dreams. "

" I simply want you to give to yourself as much as you give of yourself. By taking care of yourself financially, you will truly be able to take care of those you love. "

" Never cosign a loan. Once you have cosigned, you cannot get out of it - even on your deathbed. "

" Raise your auto and home deductibles to $1,000 or more, and your premium cost falls at least 10 percent. "

Suze Orman

Cost

Home

" We never had it as rough as the kids have it today. Look at the price of a gallon of gas or a piece of real estate or a college education. "

" Credit card issuers and HELOC lenders are like fair-weather friends: They cozy up to you in good times, but when the economy heads south, they abandon you faster than Usain Bolt runs the 100 meters. "

" Ignore the annual percentage rate when shopping for a mortgage. "

" I love, love, love that you want to use your debit card. But to keep your credit score solid, you still need to keep a few credit cards and use them at least once every few months. "