As a follow-up to the post below, I actually went online yesterday and demanded that my DVR record Oprah for the Suze Orman episode. (Thank you DirecTV technology!) I sat down to watch it last night, and while I have to admit I was expecting shock and awe from Suze, but still she successfully presented another two amazing case studies of spending gone awry that made me shudder. I still am unaware how you get $92k in debt without knowing it… but it’s a great lesson in, “this too could be you!” care of Ms. Oprah and friends. In fact, the average credit card debt held by members of the audience was $10,000! Needless to say, Suze has a good reason to keep writing books and helping people navigate towards financial responsibility.
At the end of the show, Suze posed a challenge to the audience, and only a few people raised their hands to pledge support. The challenge was this:
1. Do not spend money for one day
2. Do not use any credit card for one week
3. Do not eat out in a restaurant for one month
And the reason behind this challenge: “The important thing is to feel wealthy, rather than to show other people you’re wealthy.”
I could do #1, #2 would be difficult but I’d make sure I had cash and all would be good, but #3 would be very hard to complete. That seemed to be the sense that the audience held as well, which shows you just how much we all lean on the fast food/restaurant industry to feed us on a daily basis. :)
So, my friends, I ask you anonymously, what do you think?