Don’t Get your Advice from Suze Orman: Ambition Killer for entrepreneurs!

suze So I had my call with Suze Orman yesterday on her segment titled “Can I Afford it?”. Let me tell you everyone, she is one MEAN lady. My question to her and the purpose for my call was whether I could afford spending $3,000 on ordering more books from the printing company for my children’s book “Money Doesn’t Grow on Trees”.
I indicated to her that by ordering a larger quantity of books (750 books), I am able to reduce the cost per unit drastically, which in turn would allow me to reduce the sale price to the public. My intentions were to take this out of our savings account, and not charging it on credit cards (which we paid off a long time ago). Her answer was that I needed to have 8 months worth of monthly expenses as emergency savings. This would equal for me to basically have $45,000 in my savings account. So I would need to have $45,000 in my savings before I can spend $3,000. Really?? Is this realistic??

I am not trying to spend $3,000 on a designer purse or a sparkly diamond ring. I am trying to do something greater by becoming an entrepreneur, feeding the American dream of small business ownership. This wouldn’t be an expense but an INVESTMENT that I intend to see pay for itself. Isn’t this what America is made of: Risk takers who put forth some money and make it work. Some fail, some succeed but they all TRIED.

I am trying to do something with my life and if it costs me a bit up front, then let it be (a $3,000 expense is not going to ruin us, we have other emergency funds). My husband and I have worked hard to pay off all of credit cards and I diligently and constantly review our expenses to keep them in check (I actually have to be the bad guy, believe it or not!).
Ben and I are hard workers and I KNOW this book it will be a good investment considering its reception by the public so far. But even more importantly, I truly believe that my book carries a message that is important to youth. I have received great feedback from the many people who have purchased it. Great feedback also from notable Financial experts and speaker such as Nathan W. Morris. Libraries are loving my book too and asking that I come do a reading and book signing (some even want a craft session with the kids to decorate their jars). It will also be available at the Eastwood (Lansing) Schuler bookstore starting 01/17/2013 and MSUFCU is reviewing my book as we speak. It doesn’t necessarily mean that I will be successful and can quit my job, but the reasonable expense it would require is worth the risk in my opinion. How many successful entrepreneurs can say that their venture required no risk at all?

Suze yelled at me “You don’t teach what you don’t know!”. Just because I am not sitting on a pile of cash as she is, it doesn’t mean that I don’t have an important message I want to voice and carry. If my parents had taught me the financial values my book covers (how to earn money and how to save it using the Spending jar, the Savings jar & the Giving jar) maybe I would be able to claim a savings account with $45,000 in it. Life happens and it doesn’t mean that I need to sit and be quiet because her media popularity inflated HER bank account and not mine. I can STILL send a message that will make a difference in kids’ lives and set them up for success.

The whole “one-way conversation” lasted about a minute during which all she did was scream and not let me say anything (I was of course cut-off). She clearly was only looking to destroy someone to increase her ratings. She provided no constructive feedback whatsoever (which I would have been happy to receive) and simply played her role of a female “Simon Cowell”.

In spite of your “Denial”, lack of constructive feedback and rudeness, I will go on and fulfill my goal of making a difference as much as I can. I will press on.

I hope you all feel the same.
Karima.

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3 thoughts on “Don’t Get your Advice from Suze Orman: Ambition Killer for entrepreneurs!

  1. Pingback: My Project is on Kickstarter and has 21 days to go! | I am, I grow...

  2. I don’t understand why you’re so upset. You obviously “know” you can afford it, so why bother calling to ask Suze? Did you just want free publicity? If you don’t want her advice, let someone else ask for it. It sounds like she told you the same thing she tells everyone. It’s not being “mean”. It’s just her financial position that one should have 8 months of an emergency fund. Which is for emergencies, not spending, whether it’s for a diamond ring or investing in a business. She just recommends having a cushion. It wasn’t personal. She denies most people.

    • Hello,
      Thank you for your note. I called Suze hoping that she would confirm that I am ok to spend the money because of the potential return on investment. I was hoping that if for any reason she was to deny the expense, that she would at least provide some constructive feedback and pointers on what I should do to meet my goal.
      There was no potential for “publicity” since I would not be allowed to even give the name of my book or y last name. This wasn’t the point at all. The lack of valuable feedback and the format in which she presented it (yelling and making a statement that I “should not teach which i do not know” was uncalled for and certainly not justified in my view (I don’t need to be rich to know what is right and be able to help pass a message on to youngsters).
      I’ve learned since that she is far from being the ideal financial advisor (feedback from other advisors I have talked to) and that this was all about media and having fun slamming people. I didn’t realize that going in. I live and learn and move passed her opinions (which is entitled to). I still stand for my goal and will still work toward realizing it, little by little…
      Thank you again for your note, I honestly appreciate your feedback.

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