Suze Orman Says You Should Have ‘Power’ Over Your Money — 5 Ways To Get There

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Financial expert Suze Orman is known for delivering tough love when it comes to money management and her message at “Forbes 50 Over 50” was no exception.

“You will never be powerful in life until you are powerful over your own money,” Orman said in an Instagram clip. “How you think about it, how you feel about it and how you invest it. Money doesn’t have an age, sex, religion or affiliation. Money is your key to security. The goal of money is to be secure.”

Her point is clear: financial security begins with taking control of your money, not letting it control you. But how do you actually build that kind of power and financial security? Below are five practical ways to start.

Also here four money mistakes Orman said to avoid.

Know Where Your Money Is Going

One of the biggest reasons people feel powerless over money is simply not knowing where it’s going. It’s easy to swipe a debit card, order online or tap for coffee without realizing how quickly small purchases add up. Orman has often said that awareness is the first step to control.

Start by tracking every expense for a month. This doesn’t have to be complicated since budgeting apps or even a simple spreadsheet can do the trick. Once you see where your money is flowing, you can identify patterns. 

For example, you might notice that $300 a month goes to takeout or those subscriptions you don’t even use are eating into your budget. By getting a clear picture, you gain the ability to redirect money toward your financial goals.

Build an Emergency Fund

Financial security comes from knowing you can weather unexpected events. Life is unpredictable. Cars can break down, jobs get cut or medical bills pop up. Without savings, one emergency can send you spiraling into debt. Orman has frequently recommended having an emergency fund with eight to 12 months of expenses, which may sound intimidating at first.

The key is to start small. Even setting aside $25 a week can create momentum. Once you hit $1,000, you’ll already feel more confident because you have a buffer. From there, keep building until you have at least three months saved, then work your way up. Automating your savings by transferring money directly into a high-yield savings account every payday helps you make progress without having to think about it. 

Pay Off High-Interest Debt

Debt is one of the biggest obstacles to financial freedom. When you carry high-interest balances, like credit card debt, you’re essentially handing over your financial power to lenders. Every dollar of interest you pay is a dollar you could have used to build wealth for yourself.

Orman has often stressed the importance of prioritizing debt payoff, especially on accounts charging double-digit interest. To tackle it, you can use strategies like the avalanche method (paying off the highest-interest debt first) or the snowball method (starting with the smallest balance to build momentum). 

Invest Consistently for the Future

As Orman pointed out, how you invest your money matters. Saving money in a bank account is important for short-term goals, but investing is what helps your money grow and gives you power long-term. Many people feel investing is too risky or too complicated, but in reality, not investing is the bigger risk because inflation erodes your cash’s value over time.

If your employer offers a 401(k) plan, especially with a company match, that’s one of the easiest places to start. You’re essentially getting free money by contributing enough to earn the match. If you don’t have access to a 401(k), you can open an IRA on your own. The key is consistency by setting up automatic contributions, even if it’s just $50 or $100 per month. This allows you to take advantage of compound growth. Over decades, that growth can turn small contributions into a sizable nest egg.

Align Money With Your Values

Power over money isn’t just about your cash. It’s also about mindset. Orman emphasized that how you think and feel about money influences your financial behavior. If money is only a source of stress or fear, it’s hard to make wise choices. But when you align your money with your values, you create a sense of control and confidence.

Take a step back and ask yourself: “What do I really want my money to do for me?” Maybe it’s giving your family stability, traveling more, retiring early or being generous with causes you care about. Once you know your “why,” your spending and saving decisions become clearer. 

For example, cutting back on dining out isn’t about deprivation. It’s about freeing up money for a family vacation. Saying no to impulse buys feels easier when you know you’re saying yes to a bigger, more meaningful goal.

Orman’s message is simple but powerful: money is a tool for security and security is what allows you to live powerfully. Gaining power over your money doesn’t mean being perfect. It means taking consistent steps to track, save, eliminate debt, invest and align money with your values.

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