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

  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

college studenthigh premiumsCredit Card Interest Ratebest interest ratesfull retirement agelousy investmentpositivedon't blow tax refundincrease retirement contribution ratebreakdown projected monthly housing costspring summer near historic lowsaffordabilityquick closinglowest cost fund optionnew cardental discount planhigher insurance deductibleincrease retirement savingspremium2015 financial roadmaphealthy retirement blood pressureHoliday Seasonultimate compounding giftPersonal Financeback-to-school budgetMoneypay more than minimumsavings pleasure401(k) Contributionstax refund fraudSuze changed my lifefile asapFinancial Advicespeak new goalhome ownershipalways use all paid time offnegotiate points with bank or sellerinterest on student loansExhibitionno private loancredit utilization ratesuccess3 bucket approacheliminate credit card debtmortgage broker2017 Taxesshorter payback periodBill and Pennyhome budget after tax costcreate new truthcredit cardroth iraeight month living expense cut monthly cellular billdon't ignore open enrollmentInterestFiscal Responsibilityhigh credit score discountMotherget the most out of social security switch to roth 401(k)pay off debtPay Off Debt Before Retirementinitial tax break reduce interest rateno tax on withdrawlsborrowing plan CPI-Wletter to suzeOne Wallet At A TimeMust Have Documentshousing marketbe good exampleConventional loan PMIphysical healthgift grandchild IRA contributioncnbc alarm clockhome buying seasonFederal PLUS loantake actionchildren under 18commitJose RodriguezGrace3% debt transferred under 18 financial giftreduce monthly paymentmarriage inequalityChanging Livestraditional vs roth 401(k)insurance mistake50 over 50protect and provide for minor child death benefit needs for familyLong Term Care Insurance IRA contribution gifted moneydangerous retirement planretirementpaid vacationcommunity collegedental savings plancredit reportAARPbetter loan dealsFinancial Systemrising home pricesavoid burn outstudentFixed Rate Mortgagethree year car loanGifthealthy retirement weightpublic service loan forgiveness programbig results know before you oweshort term goal federal student loan deferment paying for collegeemergency fund get health insuranceFinancialproperty taxbuy home you can affordsocial security never insolventSuze Orman spouse Kathy Travissetup automatic savings withdrawconsider roth 401(k)grandparent IRA contribution president Obama30 year mortgage protect your family3 savings buckets raise your deductibledo you need life insuranceonly refinance if it payspublic service career student loan repayment ritual schedulevalentines dayLong Term Care premiumscontribute household expenses don't spend title insuranceHoliday4 Must Have Documents Satisfyingreal estate mistakesbest interest of investorgift up to 14,000same-sex marriageCOLAPhyllis Shelton expert long-term carefinancial independencereplace permanent life insurance with termUniversity of Illinoisdon't defer interest paymentsOverspendingidentity theftincreased auto insurance premiumDurable Power of Attorney for Health Carelower interest ratemeet monthly gay marriage ban end Florida home related tax break bonus 10 year repayment plan open enrollment review Financial Awareness Video Festivalfinancial argumentsFinancial Clifflower overall drug costwomen live longerSuze is my biggest mentor20 year level term social workfinancial goal phraseSuze Orman's Money Warsbest loan deal home buying mistakesschool women longer life spanMost Influential Celebrities Listlong term goalHDHP/HSATelepictureswaive home inspection bidoverspend on dining outpercentage of women widowed 75-84money-aware childlow credit scoreEasy Life Insurance 740 credit scoreraising mortgage rates iffy incomeautomate student loan paymentsemployer offered life insurancebalance transfer Eric Dodge only offered while employed pay credit debt ASAPraising interest ratesPrime Rate Rise 2015make saving a pleasuretax ID theftstay positiveenjoy saving preexisting condition not coveredARMdear suze15 year mortgageworkaholicbuy homecomparison shoppingprescription tierreduce withholdingmortgagebe kind to yourselfone credit cardlet them have 50% controlpay down student loan debthealthy gumsadvice for college graduatespay interest while in schoolheartacheclosing disclosurehealthy aging student loan repayment planfocus on new truth Young Adult dangerous money seasonpush yourself to save more for retirementdon't extend mortgage student loan repaymentat worst still pay 75% benefitARM Cautionmortgage disclosureInflation BenefitETF'scharges on credit cardwomen long term care401Ktaxesdental insurance overcome financial fears10% donate to charityfamily save at least $100 monthlybetter loan ratesWillshop online guaranteed level term policycostly legal social securityreal estate marketHDHP grandchild summer job IRA contributionRevocable Trustcompare monthly expensesrequired disclosureHeartdon't derail retirement savingsMass Mutuallow mileage discountoverspend on giftsannual cost of living adjustmentcostly insurance mistakemanage student loansForeclosurerent vs buyno fee transferMoney-Savingrolloverretain separate credit cardsteensprotect loved ones schedule vacationcan you afford itAdequate Auto and Home InsuranceSuze OrmansidelinedRoth 401(k)fiduciaryRevocable Living Trustunexpected expensesuitableLTC shoppingInfluential Celebrity8 month emergency fundsecured cardAshley SpringerDeath Benefitcar loanresponsibleHSA tax savingsplanhealthy teethpurely financial standpointage appropriate goalsUrbana-ChampaignStaffords this year have a fixed 6.8% interest rateFinancial Solutions For You15-year refinance dealfinancing car focus on needshome insuranceraise deductibleshigh down payment2016 adjust withholdingemotional stakesget over life insurance phobia8 month safety netis it kind?don't use allowance as bribeAmericans don't use all paid vacation timeHow To Build Creditdon't cover cosmetic dentistryterm insuranceStock InvestmentsCNBCMortgage Credit Availability Index19 years cash flow problemconfidentretirement accountsrefundsame sex marriage band end Floridajuggle multiple financial goalsuniversal college accessGiftsFinancial Gift Cliffcompare provider pricingpercentage men widowed 75-84student loan repayment estimatorworst financial mistakebudgetgift not loanStudent Debt Crisiskid borrow firstwrite new goallearn good financial choiceslower premiumnot enough life insuranceCredit Card Rate Increaseno interestmax employer matched 401(k) contributionSchool of Social WorkWall StreetFinancial Educatorlong-term care healthy youdebt freeBankruptcyLifestyleFederal ReserveSuze approveddon't buy wantsMarlo Thomasverify wellness screening and programswould you decline a bonusemergency fund savingsbill paying prioritiesno late fee allowancefraudulent returnstrained relationshipGoodbyesave no retirement funds for down paymentmobile appsocial security not going brokeautomatic paymentorigination feescommissionsmortgage interest tax deductionUniversity of FloridaNewtownautomatic withdraw to savings FICO credit score credit card mortgageunsubsidized Stafford loanHDHP'sAmy Lacyetretirment savingsThe Suze Orman Showincentives for health care wellness screeningdon't charge a pennyPBS Specialspecial saving accountFHA loan feesfinancial concerndebit carddeath benefit 20 to 25 times annual incomeconfident of solutionborrow each year, capitalization is going to pile up 2015 record year car salespaid in fullCD'sidentity fraudCommunication Skills be true to yourselfHigh FICO Score = Better Rateapproved medical 100% tax-freefinancial aid!00% tuition paidloan no longer than 36monthsfour steps to retirement savings get credit cardteach your child good money habitskids schedule paymentsHigh Credit Scorelife insurancemarriage financial responsibilityFinancial Power of Attorneyreferrals long term carenon conventional routecredit unionclosing feesloan necessityfile taxes quicklypay 100% cashholiday spendingbad decisionsLTCi ASAPprotect dependent Federal Funds RateLong Term Care shoppingcar leasinglower rateFinal GoodbyeAARP Social security calculatorVital Documentsmoney vows6 month waiting periodBanklow down paymentprovider of financial supportpermanent life insuranceAccuQuote.comclosing costs 2% of loanmonthly benefit Baby Boomersstandard deduction too expensive schoolrefinanceno life insurance financially irresponsibleForbescalculate dependents annual income needsterm life insurancemental healthFundsStudent LoanRetirement Incomeemployer funding HSACiti Simplicity Card Sandy Hook Elementary Schoolcollege graduatechildren's bookswitch to spouse coverageMinor Children car buying mistakesis it necessary?credit managementForbes Top 1020 to 25 times annual incomeloved ones dependent on incomeCommencementEmergency Savingsteens and moneycouple financesloan is giftbecome member cut monthly cable billaccelerate dental workcommunity bankCredit scoreis it necessaryprofessional advisorAuto Savings do not pay allowance for good behaviorlow-cost index mutual fundhome loan credit score below 740 Legal GuardianFree Debt Eliminatorverify retirement plan with HR or plan sponsoraffordable premiumno apologyGay Rightslife insurance name trust as beneficiaryHDHP's are good for youanticipated salarybetter termsdon't do five year car loanone annual feemultiple lenders8 RulesCory Bookerderailed planInfluentialsengaged in financesraise insurance deductiblebuying car 2016College of Veterinary Medicinelower mortgage interestback door Roth IRAface your financial fear20% down paymentRetirement Savingscost of capitalization calculatorjanuary billsinsurance yearly reviewlong-term care premiumsBeautyno splurge repay student loansteach importance of helping otherswives should be involved in retirementRichtelevision hostretirement planhigh FICO scoreincrease emergency savingsmonthly dental insurance premiumburn outsmall changes age appropriate choreinsurancevalue moneypowerfulresponsible with moneyhighest possible benefitSpendingyours, mine & ourshigh deductible health care planstretch out haircut appointmentsescrowpay down car loanStudent Debthigher monthly paymentbad retirement planningpeace of mindFICO at least 720allowance taskleave a legacydoctor no longer in networkFRAhome buying budgetAlarm ClockWashingtonSuze Orman Scholarshipignore 6 month grace period Employer Matched ContributionNew american Dream pay high rate off firstsecure creditUS Tax Codeno negativityInvest for savings growthno private loansmaintain standard of livingmax benefit covereddepreciating asset 20% equitystore credit cards20% down payment avoid feesloan big picture no waiting periodSave Us MoneyPrime Rate IncreaseVeterinary Schoolis it true? New York Lifeearn allowanceWarner Bros Television Groupadjust allocations SelectQuote.comTeachpoint cost offset by savingscontribution graduationSwap Older Annuities or Life Insurance dream schoolfinancial fearsstandard rateoverspend on nights outGay Couplesstaycationstudent loan debtco-sign women outlive mendoctors in networkFICO ScoreSelfishzero rate transfer deals2016 adjust estimated taxexercise reguarlybuying a carCivil Rightsinterest capitalizationMoney Marketsave moneyHoliday ShoppingFinancial Awarenessbuy down earn more on savingssavingsLTCPost-Divorcelive below your means3 step financial road mapitemized deductionalternative FICO scorenot gender specific Federal Stafford loankeep a scheduleno sneaking in feessummer job match income Combo Insurance ProductsHDHP's are not bad40% toward financial goalLoveSandy Hook Promiseadult childrenadd teendebtrequire chore in exchange for allowancemax employee match

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