10 Life Hacks From Suze Orman That Will Save You Money

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Sticking to a budget and growing your wealth can be challenging, but financial expert Suze Orman has spent years guiding people to make informed financial decisions.

From avoiding costly mistakes to learning how to safeguard retirement savings from inflation, the finance guru isn’t shy about giving sound advice. Her simple yet powerful tips can help stretch your money further and help you take control of your financial future.

Here are 10 life hacks Orman swears by that make the most of your bank account.

Take Action Now

As the economy continues to be unstable, panicking won’t do anything for your money; however, taking action will.

“Listen up — when recession clouds roll in, you need to own your financial future right now,” Orman told GOBankingRates. “Fear is the main internal obstacle to wealth, and the best way to conquer fear is through action. So take action now.”

And that means paying off or getting credit card debt under control, stopping unnecessary spending and building up an emergency savings.

Free Up Your Cash Flow

Building a robust safety net is vital during an economic downturn and can help reduce anxiety that can lead to poor decision making. It’s not about spending lavishly with the extra cash; it’s about providing financial security. To increase cash flow, Orman advises ditching high monthly credit card payments.

“Use balance transfers to 0% APR credit cards — transfer existing high-interest balances, pay only the minimum due, and free up more cash flow,” she told GOBankingRates. “Cash is your lifeline when everything else feels shaky. Don’t wait — fortify that fortress today.”

Don’t Drop Your Insurance

Insurance premiums are not cheap. To avoid paying a hefty monthly price, some people drop their health, life or disability insurance to save money. Orman says that’s like “driving without airbags.”

Not having insurance could cost you more in the long run, especially if you end up with an expensive, life-threatening illness.

Stop Taking Social Security Early

People can claim Social Security at 62; however, the monthly benefits would be reduced, which isn’t something Orman recommends. She has been vocal about waiting for a couple of reasons. One, you’ll get a bigger monthly check by waiting. Two, with the average lifespan increasing, you’ll lower the chances of outliving your money.

In a Sept. 28, 2025, Facebook post, Orman wrote, “Social Security is not just about getting money sooner — it’s about securing the most you can for the rest of your life. If you’re healthy and able to wait, patience can be the smartest investment you ever make in your future security.”

Focus on Needs vs. Wants

Getting on track financially often means making sacrifices, and Orman suggests that people remind themselves of their essential needs, such as housing, transportation and food, versus their wants, like eating out frequently.

In a blog post, she wrote, “If you are nearing or in retirement, and find yourself carrying credit card debt, I hope you will revisit one of my keys to financial security: focusing on needs vs. wants. This is just as true if you are 65 as when you are 25 and trying to figure out how to live within your means for the first time.”

This method can help you stay out of debt and save. 

Look at the Cause of Your Money Troubles

When money problems arise, it’s easy to blame outside sources such as the economy; but, in an interview on GOBankingRates’ “Live Richer” podcast, Orman explained why looking within is important.

“You have to understand that money is simply a physical manifestation of who you are,” Orman said. “You have manifested it. And, if something is going wrong with your money, that means that something is going wrong with you — because you and your money are one.”

By truly looking at yourself, Orman said, “That is where you will find the answer, because you can never fix a financial problem with money.”

Have a Roth IRA

A Roth IRA has benefits such as no tax on gains — and Orman is a big fan of the retirement account.

“I want you to do a Roth IRA no matter how much money you make,” she said in a YouTube video.

She’s not particular on the type — Roth 401(k), 403(b), Roth TSP or a Roth IRA. She also doesn’t care how much money you make; she just strongly encourages having one.

For anyone who wishes to convert their retirement account to a Roth IRA, the personal finance expert recommends doing so when the markets are down.

“Your portfolio is worth less. Stocks have gone down,” she said. “And maybe your stocks have gone down a whole lot. If that is true, this might be the perfect time for you to think about converting to a Roth IRA.”

If you have a retirement plan through your workplace, you may also consider converting it. 

“The less money you have that you’re converting, the less taxes you owe,” Orman said. “So, if the stock market has gone down — which it has — and you convert when (your stocks are worth less), then you’re winning.”

Stay in Stocks

When the market tanks, pulling your money out is a natural knee-jerk reaction, but Orman advises holding on. In a blog post, she wrote,  “Over the long term, stocks have produced the best gains after factoring in inflation. Bonds and cash struggle to keep pace with inflation; only stocks have a track record of earning more than inflation.”

Have a Financial Morning Ritual

Every day you have the power to change, set goals and work toward them. Orman says a “money morning ritual” — such as reviewing upcoming bills, checking account balances and tracking financial progress — can help you achieve financial stability.

By doing so, you’re building a positive financial habit and managing anxiety around money.

Stop Buying Coffee

It’s convenient to stop by your favorite coffee house on the way to work or while you’re running errands, but it adds up and Orman considers this a want and not a need.

“I wouldn’t buy a cup of coffee anywhere, ever — and I can afford it — because I would not insult myself by wasting money that way,” she once told CNBC Make It.

If you spend $100 a month going out for coffee, that’s $1,200 a year that could go into your Roth IRA or help build up your emergency fund. Make coffee at home and save up instead.

Orman’s money advice isn’t drastic choices, but rather smart, consistent habits that build financial stability. By applying these 10 life hacks, you can avoid common financial pitfalls, make the most of your income, and take real steps toward long-term wealth. 

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