Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below.
Suze Orman has spent decades improving the financial outcomes of many Americans.
The financial advisor and host of The Suze Orman Show has written 10 consecutive bestselling books on personal finance and has given countless speeches on the subject. She also hosts a successful podcast, Women & Money.
Orman summarized decades of her best financial advice when speaking to a live audience in 2019: “If you live your life with [this] one rule, your life will start to change (1).”
Orman suggests that anyone looking to build financial security should “buy what you need versus what you can afford when you can afford more than you need.” In other words, her advice was to live below your means.
As an example, Orman said she could technically have afforded an apartment that was much more expensive than the one she actually has. But by purchasing property below her budget, she created a monetary buffer that added to her sense of financial stability over the long run.
Unfortunately, many Americans struggle to exercise similar restraint — especially when it comes to spending with their plastic.
However, while living expenses and essential purchases are unavoidable, you can turn them into opportunities with the Acorns app.
When you link your bank account, Acorns will round up your transactions to the nearest dollar as you make purchases on your credit or debit cards, investing the difference in a smart portfolio of ETFs. This way, even as you spend, you’re steadily building your portfolio. With rising expenses often outpacing income, putting your savings on auto-pilot could potentially help you get out of your own way.
Sign up now with a monthly deposit of just $5 and you can get a $20 bonus investment to kickstart your investing journey.
To ensure you’re following Orman’s golden rule, getting a handle on your income and expenses with a budget is essential. Your savings and investment strategies should fall into a greater budgeting plan, especially if you’re trying to avoid overspending or take advantage of compound interest.
If you want to ensure you’re maximizing your retirement contributions, it could pay to speak to a qualified financial advisor.
Research from Vanguard shows that working with a financial advisor can add about 3% to net returns over time. That difference can become substantial. For example, if you started with a $50,000 portfolio, professional guidance could mean more than $1.3 million in additional growth over 30 years, depending on market conditions and your investment strategy.
Finding the right advisor is simple with Advisor.com. Their platform connects you with licensed financial professionals in your area who can provide personalized guidance.
A professional advisor can also help you determine how many years you have left to invest before retirement and assess your comfort level with market fluctuations — two key factors in building the right asset mix for your portfolio.
Many Americans have found themselves in debt as they struggle to bridge the gap between what they can afford and what they want to purchase (but don’t actually need).
Household debt hit a record $$18.59 trillion in Q3 2025, with credit card and auto loans rising alongside mortgage debt (3). This financial pressure has left many American families in a tough spot, but Orman suggests her golden rule could help them regain control.
“How do you start to live by that rule?” she asked during the live presentation. “From this day forward, I would like you to make a vow to yourself that, for the next six months … only buy needs, not wants.”
Indeed, beyond consumer spending, a Lending Tree study reveals that more than 18 million American homeowners are considered “house poor” — spending more than 30% of their monthly income on housing costs (2).
Those costs can include everything from mortgage payments, utility bills, renovations, property taxes, or home insurance policies.
Being overextended can happen to anyone, so lowering expenses where you can may offer much-needed relief. In this case, OfficialHomeInsurance could make shopping for home coverage fast, simple and affordable.
Their easy-to-use platform helps you find the best home insurance rates in your area. All you need to do is answer a few quick questions about yourself and your home, and you’ll see a list of quotes for you to compare. In just a few clicks, you can find the best policy for your needs.
As if home expenses weren’t bad enough, another report by MarketWatch found that 82% of Americans struggle to keep the monthly cost of car ownership below the recommended threshold of 10% of their monthly income, with the national average sitting at $179 per month.
When you use OfficialCarInsurance, they’ll ask you some quick questions that help determine your insurance. Things like your age, your home state, the type of vehicle you drive and your driving record.
Based on your answers, they’ll sort through leading insurance companies in your area, including top providers like Progressive, Allstate and GEICO, ensuring you find the lowest rate possible — and the platform is 100% free to use.
