Money Guru Suze Orman Offers Social Workers Advice, Social Work Month Message
Financial advice whiz Suze Orman says it is too bad the public and policy makers do not value social workers and pay them more.
Orman, who earned a bachelor’s degree in social work from the University of Illinois at Urbana-Champagne, said social workers are “vital to the fabric of the United States of America.”
Still Orman, who just released her 10th financial advice book “The Money Class: Learn to Create Your New American Dream” ($26, Spiegel & Grau), is not too sympathetic when social workers complain about low salaries and high student loans.
She said those who enter the profession knew about the pay. So social workers need to “stand in their power.” That means learning to live well below their means, being resourceful and smart about money, and realizing what you earn does not equal what you contribute to society.
“You just have to be one of those that seriously live below your means,” said Orman, who was on a book tour and talked to SocialWorkersSpeak.org and the National Association of Social Workers News by telephone from the Intercontinental Hotel in Kansas City. “It may mean you rent for the rest of your life. But who cares? So does all of America right now.”
“You have to get your pride out of who you are and what you do for others,” she continued.
Still Orman has helped some social workers get out of debt. She set up a scholarship for master’s degree social work students at the University of Illinois. Twice a year the dean of the school picks a student to receive the scholarship, which pays off the recipient’s student loans.
Orman, who has her own financial advice show on CNBC and has made regular appearances on the Oprah Show and Oprah Winfrey Network (OWN), decided to write “The Money Class” to give people advice in these economically perilous time. People need to abandon the old, more materialistic American Dream and adopt a more frugal, realistic standard of living to match these tight economic times.
But she doesn’t think Americans have learned from the recent recession and will change their lifestyle the way their parents and grandparents did after the Great Depression of the 1930s.
“It didn’t hit everybody,” Orman said of the current economic downturn. “During the Depression period it hit absolutely every, single person. You literally had people in the streets begging.”
After graduating college Orman, 59, worked as a waitress making $400 a month before landing a job at Merrill Lynch. She went on to rise up the ladder at Prudential Bache Securities before launching her own company.
Although she never practiced social work Orman said her social work degree has helped her become the financial advice superstar she is today. That is because her studies have helped her understand how people think and feel about money and enabled her to talk about money on a personal level.
“You have to understand people to understand money,” she explained. “People have to go out and earn money. It’s people who spend it.”
“The amount of money you make never determines the wealth that you are able to create.
Over the 30 years I have been doing this now I have come to realize that people who make less money can end up with more when they live below their means and live a respectful life.
I have counseled people who make tons of money and they have absolutely nothing left at the end because why? Their habits and expenses eat up everything they have even if it’s millions of dollars.
Those people who make lesser amounts, once they learn about their money, can make more out of less any day of any month if they decide to do so.
If you social workers have what it takes to deal with some of the most serious problems in the United States of America between families, children, elder abuse and so on you have what it takes to take care of your financial children as well — the bills, bucks and pennies that are all in your life.
And the bottom line is this: you will never be powerful in life until you are powerful over your own money -how you think about it, how you feel about it and how you invest it.
Do not hide behind the excuse that you don’t make enough money so therefore you’ll never have any money. You can do anything. You just have to know how.”| Leave A Comment
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