Suze Orman TwitterSuze Orman FacebookSuze Orman YouTubeSuze Orman LinkedIn
View Blog & News List

16 Wishes for 2016

December 24, 2015 at 12:00 AM

As we turn the corner into a new year, my biggest hope is that peace and happiness is in great abundance for each and every one of you and all those you love.

You know from years of hearing me invoke “People First, Then Money, Then Things” that I think there should be no bigger focus than building and nurturing that peace and happiness. But there is also always room to focus on the ways you can continue to build financial security in 2016. The progress you make on taking control of your money will, after all, bring even more happiness and peace into your life.

Here are my 16 wishes for how you can make the most of your money in 2016:

  1. Focus on what you have, not what you don’t have.

  2. Recognize that every dollar you save today and every dollar of debt you pay down today is an important step to the future you deserve. As long as you are moving in the right direction, you are in control of your future. Be patient. You will get where you want to be.

  3. If you have credit card debt, pay off the highest rate debt first. And be sure to make at least the minimum payment due on all your credit cards.

  4. Check that there are no mistakes or instances of fraud on your credit report. The only place you should ever go to get a free credit report is annualcreditreport.com

  5. Sign up for email or text alerts for your checking accounts and all your credit card and debit accounts. It has never been easier to stay on top of your balances, or be able to spot fraud the moment it happens.

  6. If your employer offers you a company matching contribution to its retirement plan, be sure to contribute enough to earn the maximum match.

  7. If you have the option of a Roth 401(k), give it a long look. I think it is a fantastic deal.

  8. Say no out of love, rather than yes out of fear. Keep this in mind as people come to you for financial help throughout the year. You are never to loan someone money, or co-sign a loan unless you are certain it will actually help that person (not just enable more questionable behavior) and you can truly afford to offer help.

  9. If you are buying a car and need financing, make it your goal to purchase a car that you can afford with a three-year loan. (No leases!)  Don’t take out a longer loan; it’s a ploy car companies use to get you to buy more expensive cars.

  10. Focus on the long-term. Even if you are in your 50s or older, you likely have decades more life of you ahead. Don’t be too conservative with your investments. Over the long term – decades – stocks have delivered the best inflation-beating gains.

  11. If you want to find the best financial advisor, look in the mirror. No one will ever care more about your money, and what you make of that money, than you.  If you don’t yet feel like you are “good” with money, make it a priority to build your personal finance IQ in 2016.

  12. If you have a college-bound child, do not, I repeat, DO NOT take out any private loans for college. They are just too risky. Focus on federal loans.

  13. Check all your retirement plan and insurance beneficiaries. Can’t remember whom you named? That’s exactly my point! Make sure your money will go exactly where you want.

  14. Enough procrastinating. Please make this the year you once and for all get your Must Have Documents in place.

  15. Live below your means but within your needs. Follow this rule and you will always be powerful with money.

  16. You are never powerful in life until you are powerful over your own money.  How you feel, think and act with it. May 2016 be your most powerful year yet.
16 wishes for 2016

Tag Cloud

Must Have Documentsoverspend on giftsSandy Hook Promisehigh down paymentface your financial fearForbes Top 1040% toward financial goalAmy LacyetLong Term Care Insurance 15 year mortgageBill and PennyForeclosuremonthly benefit high deductible health care plan2016 adjust estimated taxexercise reguarlyPersonal Financeescrowheartacherefundhigher insurance deductibleTeachdebtVital Documentsback door Roth IRAallowancespecial saving accountSchool of Social Workdepreciating asset store credit cardsprotect loved ones Loveretirement planinsurance yearly reviewSpendingknow before you oweno interestaffordable premiumwrite new goalsocial workreal estate mistakes3 step financial road mapLong Term Care premiumshighest possible benefitCommencementhome buying mistakescompare monthly expensesverify wellness screening and programshealthy retirement blood pressurecut monthly cellular billreferrals financial concernget the most out of social security Communication Skills Money Marketadd teenSuze changed my lifeYoung Adult file asapcompare provider pricingFinancial Advicecredit utilization rateUniversity of Illinoisbest interest ratespay 100% cashterm insurancetax refund fraudcut monthly cable billbuy homecollege studentmaintain standard of livinglower ratedon't derail retirement savingsAARP Social security calculatoradvice for college graduatesraising interest ratesMinor Children home ownership2015 financial roadmapbill paying prioritiesidentity fraudGraceprofessional advisorInterestage appropriate choreidentity theftretirement accountsRetirement Savings401Knot gender specific car buying mistakesone annual feeEmployer Matched Contributionage appropriate goalsNew american Dream children's bookovercome financial fearsAdequate Auto and Home Insuranceritual schedulebuying a caranticipated salaryraise deductiblesSuze is my biggest mentorSuze Orman's Money Warscontribution at worst still pay 75% benefitderailed plandon't blow tax refundoverspend on nights outearn more on savingsFICO Scorerising home pricesFinancial Gift Cliffmortgage brokermax employee matchmarriage financial responsibilitycost of capitalization calculatorsetup automatic savings withdrawchildren under 18iffy incomejanuary billsstudent loan repayment planemployer offered life insuranceno private loanslong term careHeartengaged in financeslong term goalHow To Build Creditbest interest of investorno late fee gift not loansavings pleasuretaxeslong-term care premiumseight month living expense max benefit coveredwomen outlive menhome related tax break bonus Holiday ShoppingOne Wallet At A Timedon't do five year car loanCredit scorebudgetno private loanSatisfying8 month emergency fundConventional loan PMIpowerfulfocus on needsdebt freepublic service career student loan repayment 6 month waiting periodtax ID theftMoney-Savingrequire chore in exchange for allowanceunder 18 financial giftdon't charge a pennyWashingtondeath benefit 20 to 25 times annual incomelife insurancefederal student loan deferment CD'sHigh FICO Score = Better Rate30 year mortgage family save at least $100 monthlylower interest ratesave meet monthly credit unionRoth 401(k)women long term careFinancial Awarenessaccelerate dental workHolidaynon conventional routestudent loan repayment estimatorpreexisting condition not coveredis it kind?best loan deal stretch out haircut appointmentspaid in full2016 adjust withholdingcredit report8 month safety netsecure creditEasy Life Insurance Suze Orman Scholarshiploan no longer than 36monthskids schedule paymentshigh premiumshealthy retirement weightpoint cost offset by savings20 year level term buying car 2016Goodbyecommitfile taxes quickly3 bucket approachsummer job match income 20% down payment avoid feesCiti Simplicity Card juggle multiple financial goalsquick closingnew carcouple financesprotect your familycostly legal Veterinary Schoolinterest capitalizationunsubsidized Stafford loanprotect dependent commissionsterm life insuranceorigination feesFinancial Awareness Video Festivalrefinancelong-term care home budget after tax cost20% down paymentdental insurance Federal Reservespeak new goalinsuranceSwap Older Annuities or Life Insurance push yourself to save more for retirementInfluentialspeace of mindincentives for health care wellness screeningfinancial argumentswives should be involved in retirementincrease retirement contribution ratefinancial independenceNew York Liferesponsible with moneyitemized deductionenjoy saving doctors in network20 to 25 times annual incomebe good examplealternative FICO scoreteach your child good money habitsproperty taxno apologyteens and moneyget over life insurance phobiaapproved medical 100% tax-freebetter termsdon't defer interest paymentspermanent life insurancebad retirement planningLTCuniversal college accessGay RightsForbeshealthy aging confidentpurely financial standpointburn outlearn good financial choiceslow credit scorePost-DivorceThe Suze Orman ShowCredit Card Rate IncreaseInvest for savings growthpercentage men widowed 75-84would you decline a bonusrollovermortgage disclosurelow down paymentswitch to roth 401(k)pay down student loan debtemployer funding HSAyours, mine & oursFinancial Cliffco-sign Suze Orman spouse Kathy Travispaying for collegeGay Couplesautomatic payment15-year refinance dealpay interest while in schoolnot enough life insuranceworst financial mistakebetter loan rates740 credit scoredream schoolloan necessitylive below your meansgay marriage ban end Florida lower premiumFinancial Systemmanage student loansFRAHDHP 2017 Taxesholiday spending10 year repayment plan dental savings planAARPCory Bookerearn allowanceinitial tax break social securityvalentines dayFHA loan feespaid vacationmental healthcreate new truthIRA contribution gifted moneypay off debtmoney vowsno retirement funds for down paymentreduce monthly paymentfiduciarygift grandchild IRA contributiondon't spend don't extend mortgage Moneyincrease emergency savingsswitch to spouse coverageadjust allocations Save Us MoneySelfishUrbana-Champaignbe kind to yourselfBankloan is giftARM CautionLTC shoppingmortgage interest tax deductionverify retirement plan with HR or plan sponsorInflation BenefitOverspending10% donate to charityLong Term Care shoppingteach importance of helping othersprovider of financial supportRevocable Trustdon't use allowance as bribeschedule vacationMass Mutualretain separate credit cardsStudent Debtpositivefinancial aidmultiple lendersMost Influential Celebrities Listgrandparent IRA contribution retirment savingshigher monthly paymentstudentaffordabilityignore 6 month grace period do you need life insuranceFinal Goodbyesavingsstudent loan repaymenteliminate credit card debtleave a legacycalculate dependents annual income needsFiscal Responsibilityis it true? physical health8 RulesTelepicturesstrained relationshipcnbc alarm clockraising mortgage rates insurance mistakereal estate markettraditional vs roth 401(k)AccuQuote.comtelevision hostavoid burn outclosing disclosure50 over 50women longer life spanJose RodriguezWillsame-sex marriagetake action401(k) ContributionsPhyllis Shelton expert long-term carelow mileage discountemotional stakesnegotiate points with bank or sellerprotect and provide for minor child Free Debt Eliminatordoctor no longer in networkno tax on withdrawlsStudent Debt CrisisPBS Specialworkaholicdangerous money seasonget credit cardFinancial Power of Attorneyreplace permanent life insurance with term!00% tuition paiddental discount plansocial security never insolventcar leasingsame sex marriage band end Floridarequired disclosureno fee transferBaby Boomersspring summer bad decisionsborrowing plan no sneaking in feesemergency fund savingspresident Obama19 years cash flow problemlowest cost fund optionrepay student loansInfluential CelebrityARMis it necessarylet them have 50% controlhigh FICO scoreFederal PLUS loantitle insurancecollege graduatebetter loan deals2015 record year car salesraise your deductibleSelectQuote.comFICO at least 720reduce interest rateCPI-Wno negativityfinancial goal phrasesidelinedRetirement IncomeStaffords this year have a fixed 6.8% interest ratebalance transfer become member lower mortgage interestMotherFixed Rate Mortgagebreakdown projected monthly housing costcan you afford itmax employer matched 401(k) contributioncostly insurance mistakebig results get health insurancebuy down public service loan forgiveness programCivil Rightsdon't buy wantsWarner Bros Television Groupincrease retirement savingsCombo Insurance Productscommunity bankreduce withholdingdo not pay allowance for good behaviorhigh credit score discountfinancing car FICO credit score credit card mortgageconfident of solutionGiftCredit Card Interest Rategraduation4 Must Have Documents Auto Savings low-cost index mutual fundFederal Stafford loanmonthly dental insurance premiumfour steps to retirement savings fraudulent returnRichpay high rate off firstonly refinance if it paysmortgagehome loan credit score below 740 automate student loan paymentsstandard deduction High Credit Scorefinancial fearsMarlo Thomaspercentage of women widowed 75-84home buying budgetFederal Funds RateUS Tax Codedear suzedon't ignore open enrollmentEric Dodge CNBCfocus on new truth Alarm Clockrent vs buyprescription tiercomparison shoppingLTCi ASAPStock Investmentslife insurance name trust as beneficiaryresponsibleborrow each year, capitalization is going to pile up secured cardHDHP's are not badDurable Power of Attorney for Health Care20% equityautomatic withdraw to savings money-aware childCollege of Veterinary Medicineunexpected expensegrandchild summer job IRA contributionChanging LivesHDHP's are good for youcontribute household expenses Ashley Springerzero rate transfer dealsback-to-school budgethousing marketmobile appwomen live longerkeep a scheduleStudent LoanSuze approvedteensAmericans don't use all paid vacation timefull retirement ageSuze Ormanpay more than minimumlower overall drug costultimate compounding gifthealthy youoverspend on dining outhome buying seasonone credit cardcharges on credit cardHoliday Seasondeath benefit needs for familyLifestylegift up to 14,000waive home inspection bidallowance taskmarriage inequalitybuy home you can affordpay credit debt ASAPhealthy gumsSandy Hook Elementary Schoolonly offered while employed community collegepay down car loanshorter payback periodno waiting periodFinancial Educatorraise insurance deductiblecredit cardclosing costs 2% of loansmall changes save moneyPrime Rate Increasesuccessshort term goal plan3% debt transferred Wall Streetloan big picture no splurge Revocable Living TrustNewtownstay positivecredit management3 savings buckets too expensive schoolconsider roth 401(k)lousy investmentdangerous retirement planCOLAEmergency Savingsopen enrollment review ExhibitionPay Off Debt Before Retirementkid borrow firstdebit cardBeautyretirementis it necessary?make saving a pleasureloved ones dependent on incomeschool roth irastaycationpremiumshop online guaranteed level term policyannual cost of living adjustmentETF'sHDHP'sincreased auto insurance premiumvalue moneynear historic lowsBankruptcyFinancialsocial security not going brokeUniversity of Floridaemergency fund home insuranceFinancial Solutions For Youalways use all paid time offDeath Benefitdon't cover cosmetic dentistryHSA tax savingsLegal GuardianGiftsFundsMortgage Credit Availability Indexthree year car loansuitableno life insurance financially irresponsiblecar loaninterest on student loansadult childrenstandard ratehealthy teethstudent loan debtbe true to yourselfletter to suzeclosing feesPrime Rate Rise 2015HDHP/HSA


View Blog & News List
People First. Then Money. Then Things.
Connect with me on Facebook Connect with me on YouTube Connect with me on Twitter
© 2017 Suze Orman Media Inc. All rights reserved.
 
 |  Search  |  Sitemap  |  Privacy  |  Terms
Sign Up For E-mail Offers
Open Panel
Close Panel