The Chronicle of the Horse
MagazineNewsHorse SportsHorse CareCOTH StoreVoicesThe Chronicle UntackedDirectoriesMarketplaceDates & Results
 
Page 1 of 2 12 LastLast
Results 1 to 20 of 28
  1. #1
    Join Date
    Dec. 8, 2008
    Location
    My own little utopia!
    Posts
    865

    Default Would Suze Orman give you a smack-down?

    I've been watching Suze Orman for a while and she has a segment called "Can I afford it" in which people tell her things they want to buy and based on their finances she approves or denies them. Most of the time she denies them. It seems like she doesn't think you should buy anything "fun" until you have no debt other than a mortgage, are on track with retirement money and have 8 months of an emergency fund.

    I started wondering if she would deny almost everyone on Coth for having horses. People here like to joke that they won't add up the expenses and don't always explain to their spouses exactly how much they spend but I know the amount of money I've spent on horses would shock the average person. We still save money for retirement but if I didn't ride, holy cow - the things we could do!

    So do you think you easily afford horses or is it something that causes you to live paycheck to paycheck, thus robbing you of your future security?



  2. #2
    Join Date
    Jul. 24, 2008
    Location
    Wimberley, TX
    Posts
    152

    Default

    I can afford a horse or two comfortably, but I suspect she would take issue with keeping multiple horses that do absolutely nothing but eat, poop and run up vet bills!



  3. #3
    Join Date
    Dec. 8, 2008
    Location
    My own little utopia!
    Posts
    865

    Default

    Quote Originally Posted by Gainer View Post
    I can afford a horse or two comfortably, but I suspect she would take issue with keeping multiple horses that do absolutely nothing but eat, poop and run up vet bills!
    When you stand back and look at it in purely practical terms it IS completely ridiculous. I pay for hay and get poop in return. (And in some areas you pay for the poop to be carted away!)



  4. #4
    Join Date
    Apr. 15, 2008
    Posts
    2,947

    Default

    who's suze orman? but yes, i can easily afford my level of horsiness at the moment, but if i get laid off, it will be the first thing to go. (in fact, if i had more *time* i'd be riding more.)
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
    Gravity works, and the laws of physics are a bitch.

    Member: Rabid Garden Snail Clique



  5. #5
    Join Date
    Dec. 12, 2004
    Location
    Massachusetts
    Posts
    6,777

    Default

    I'm a recent graduate, with minimal savings, a car loan, and not just one but THREE expensive horses (in addition to two dogs and two cats) who are gigantic financial anchors now that I'm looking to move to a more expensive area to start my career.

    You tell me what she'd say.


    1 members found this post helpful.

  6. #6
    Join Date
    May. 6, 2007
    Location
    Napanee ON
    Posts
    4,194

    Default

    I can afford my horses but she would probably give me a smack down anyways.

    The thing is, I have just heard of two people dying, one 54, one 60. I am not about to wait until retirement to enjoy some of my money, if I might not even make it to retirement.


    5 members found this post helpful.

  7. #7
    Join Date
    Jul. 24, 2008
    Location
    Wimberley, TX
    Posts
    152

    Default

    Quote Originally Posted by Jealoushe View Post
    I can afford my horses but she would probably give me a smack down anyways.

    The thing is, I have just heard of two people dying, one 54, one 60. I am not about to wait until retirement to enjoy some of my money, if I might not even make it to retirement.
    This is sort of how I feel about. I will likely die at my keyword, still working. If my horses and other pets give me pleasure now, then screw it. I'm likely never going to a reach an age where I actually "retire"; even if I live long enough, I can't see stopping work completely. I would just cut back my hours a bit. I'm fortunate that I have a career that I can do well into my 80s, assuming my mind stays clear.


    2 members found this post helpful.

  8. #8
    Join Date
    Oct. 9, 2000
    Location
    California
    Posts
    8,265

    Default

    I would not get the smackdown I don't think, because I live within my means (well, me and Mr. PoPo). We have an emergency fund, we save for retirement, our only debt is our mortgage. While we would love another horse for Mr. PoPo, and I'd love to afford more lessons and shows, right now it isn't in the budget (time and money-wise) so I stick to doing what I can.

    I don't think she favors horsey exploits, though - I know someone who called in to the show to ask about buying a new saddle and IIRC, Suze seemed to think that horses were a waste of money.
    My Mustang Adventures - Mac, my mustang | Annwylid D'Lite - my Cob filly

    "A horse's face always conveys clearly whether it is loved by its owner or simply used." - Anja Beran



  9. #9
    Join Date
    Sep. 16, 1999
    Location
    Ohio: Charter Member - COTH Hockey Clique & COTH Buffy Clique
    Posts
    9,143

    Default

    THere is a huge difference between having fun, enjoying your life and your passions... and destroying your future to do everything NOW. The latter is an attitude of entitlement, an attitude of instant gratification that has infiltrated our culture with easy financing.

    She'd probably have a few words for me, but not a big smackdown. And while I can't do everything I want (gave up on a 2 day clinic next weekend for example), I'm doing ok and enjoying my life.
    ************
    "Of course it's hard. It's supposed to be hard. It's the Hard that makes it great."

    "Get up... Get out... Get Drunk. Repeat as needed." -- Spike



  10. #10
    Join Date
    Jul. 21, 2006
    Location
    South Carolina
    Posts
    5,027

    Default

    I don't know who Suze Orman is. But I'm guessing she's one of those TV people who tends to other people's business. What I'm never sure about is why people call in and ask other people to tend to their business.

    Anyway. Horses are my motivation to make money. So I can afford to have them. Ever read Denny Emerson's book, How Good Riders Get Good? He has a whole section on tailoring one's career in order to maximize riding time. IIRC, he became a schoolteacher and then a real estate broker - the former because he had afternoons free and then the latter because by working for himself he had control of his schedule. So he could ride.

    I did the same thing. We moved from town out to DH's family farm so I'd have access to land. I learned how to build my own fences and shelters. I went to law school because it seemed to me the fastest way to become my own boss within five years of graduation and have a reasonable income stream.

    To get rid of my horses to save money would put my priorities in reverse order.



  11. #11
    Join Date
    Apr. 5, 2011
    Posts
    922

    Default

    LOVE Suze, she is my hero. Watch her faithfully every Saturday night (though now I have to stay up til 11pm, as she will conflict with Doctor Who! And YES, she would give me a very harsh smackdown for taking care of four horses that are not mine, which have no real value and cost several hundred dollars a month to feed and care for. But I have given up many other luxuries in order to care for those oldies.

    Suze's entire goal is to make people financially stable, so that they are prepared for emergencies, prepared for retirement, and don't live paycheck to paycheck, forever in debt. She has revolutionized how I view my finances and in reading her books, I've really changed how I view and use money.


    1 members found this post helpful.

  12. #12
    Join Date
    Apr. 2, 2003
    Posts
    4,845

    Default

    Quote Originally Posted by pAin't_Misbehavin' View Post
    Anyway. Horses are my motivation to make money. So I can afford to have them. Ever read Denny Emerson's book, How Good Riders Get Good? He has a whole section on tailoring one's career in order to maximize riding time. IIRC, he became a schoolteacher and then a real estate broker - the former because he had afternoons free and then the latter because by working for himself he had control of his schedule. So he could ride.

    I did the same thing. We moved from town out to DH's family farm so I'd have access to land. I learned how to build my own fences and shelters. I went to law school because it seemed to me the fastest way to become my own boss within five years of graduation and have a reasonable income stream.

    To get rid of my horses to save money would put my priorities in reverse order.
    While I love Denny, I hated this part of that book.

    You happened to choose a career that is relatively well compensated. Of course, current law school graduates are experiencing a very high un-or-underemployment rate. Often they have $100k+ in debt from law school, so there's that as well. You also had family backing in the form of land that someone already owned and was willing to let you use. So let's review the situation of the average person instead:

    Let's say you go to school for 4 years and get a degree that allows you to teach high school. Somehow you graduate with no debt, maybe you went to community college for 2 years and got scholarships for the rest. And now you have somehow managed to find the needle in the haystack of an available teaching job for a new teacher in a low cost of living area. You're somehow going to purchase, support, and compete a horse on a single person's teacher's salary? Maybe buy land and build a nice farm for yourself?

    Unlikely.

    This whole chapter of Denny's book basically boiled down to "Have rich parents, marry someone rich or with other useful resources, or get a well paying career with 100% flexible hours that didn't require you to accumulate student debt."

    It's just not going to work that way for the vast, vast majority of people. And I say that as someone with a work-from-home consulting job that pays me very well only 4 years out of college.

    I guess we should all become real estate agents. Except if you want to sell houses, you've got to be around on the weekends, not off competing every other week like basically any horse sport requires you to do to now, so that doesn't work either.

    That chapter really felt out of touch to me.


    1 members found this post helpful.

  13. #13
    Join Date
    Apr. 2, 2003
    Posts
    4,845

    Default

    Also, Suze would probably tell me I can't have a horse, but that's why I didn't ask Suze's opinion.


    3 members found this post helpful.

  14. #14
    Join Date
    Mar. 25, 2011
    Location
    Pennsylvania
    Posts
    5,132

    Default

    I can't afford a damned thing. I drive a 16 year old truck with 280K on it, I ate up my savings when I got laid off, and working as an adjunct is no plan for retirement. You know what though? I have never been happier in my life. I love what I do for a living, I love riding my horse. I figure Ms Orman would absolutely disapprove of my lifestyle, but I like to consider the bus/bad diagnosis scenario; if you were to be hit by a bus or a really bad diagnosis tomorrow, how many regrets are you going to have? If you're fortunate enough to be rich and happy, good for you, but as for the rest of us -I'd rather be happy.

    Paula
    He is total garbage! Quick! Hide him on my trailer (Petstorejunkie).


    5 members found this post helpful.

  15. #15
    Join Date
    Jul. 21, 2006
    Location
    South Carolina
    Posts
    5,027

    Default

    Quote Originally Posted by soloudinhere View Post
    While I love Denny, I hated this part of that book.

    You happened to choose a career that is relatively well compensated. Of course, current law school graduates are experiencing a very high un-or-underemployment rate. Often they have $100k+ in debt from law school, so there's that as well. You also had family backing in the form of land that someone already owned and was willing to let you use. So let's review the situation of the average person instead:

    Let's say you go to school for 4 years and get a degree that allows you to teach high school. Somehow you graduate with no debt, maybe you went to community college for 2 years and got scholarships for the rest. And now you have somehow managed to find the needle in the haystack of an available teaching job for a new teacher in a low cost of living area. You're somehow going to purchase, support, and compete a horse on a single person's teacher's salary? Maybe buy land and build a nice farm for yourself?

    Unlikely.

    This whole chapter of Denny's book basically boiled down to "Have rich parents, marry someone rich or with other useful resources, or get a well paying career with 100% flexible hours that didn't require you to accumulate student debt."

    It's just not going to work that way for the vast, vast majority of people. And I say that as someone with a work-from-home consulting job that pays me very well only 4 years out of college.

    I guess we should all become real estate agents. Except if you want to sell houses, you've got to be around on the weekends, not off competing every other week like basically any horse sport requires you to do to now, so that doesn't work either.

    That chapter really felt out of touch to me.
    I got a different message entirely. I didn't think Denny was saying we should all become schoolteachers or go into real estate or even marry rich (although my grandmother always said it is just as easy to love a rich man as a poor one ).

    I thought he was saying:
    1. Each person should evaluate her own situation carefully and cultivate those possibilities that would maximize her riding time; and
    2. Don't make choices that you know in advance will minimize your riding time - or at least if you do, realize that's what you're doing and accept that your riding time will suffer.

    In my case, yes, I'm fortunate to have married into family land. I'm not so calculating as to have married DH for his family's holdings . But once I realized I had that resource, I capitalized on it. When we moved there, the house was falling down and they were crop-farming right up to the edge of the porch. I drew up plans, presented them to my MIL to show her what I wanted to do, and offered to pay her more than what she was getting on the farm lease for the acreage (although she wouldn't take it. ) It took a good eight years of mostly weekend labor to turn it into a horse property. But I knew it would be worth it one day.

    Law school was a calculated choice - not happenstance. I reviewed several professions and compared average student loan debt, average salaries, avg number of hours/week, and how long on average I'd have to spend working for someone else before I could become my own boss. I chose law based on how well it fit into my goals and aptitude. Nowadays, of course, all those numbers that went into my calculation have probably changed. Someone choosing a career today would no doubt come up with different numbers than I did.

    Real estate worked out great for Denny back in the day, apparently, but no, it wouldn't be on anybody's top ten list for getting to financial independence today.

    I guess what I got out of that chapter was that everybody needs to figure out where s/he wants to be and then maximize the available opportunities that will get her/him there.



  16. #16
    Join Date
    Apr. 22, 2011
    Location
    the Armpit of the Nation
    Posts
    3,173

    Default

    Suz has a mild-mannered cousin in my husband. We are within a few months of paying off our mortgage (WOOOT) and he has convinced me that paying everything off and having no debt is a real good thing for us, being self-employed, which wasn't easy Our work vehicles are elderly but paid off; our wedding/funeral/vacation car will be paid off in a few months also, and once we get out from under these debts, we plan to reno 2 more bathrooms, then I get to do a little much-needed redecorating

    We are trying to see whether we can swing another horse for me...an expensive monthly item around here, where just board is a minimum of $750, and that is at least a half hour away, and even farther away for good turnout and indoor. Suz would probably tell me that I had my fun and (wasted TONS of money) on my two dear boys for for 25 years, so don't be an idiot We'll see...



  17. #17
    Join Date
    Mar. 26, 2005
    Location
    Back to Normal.. or as close as I'll ever get
    Posts
    9,587

    Default

    Quote Originally Posted by Pocket Pony View Post
    I don't think she favors horsey exploits, though - I know someone who called in to the show to ask about buying a new saddle and IIRC, Suze seemed to think that horses were a waste of money.
    Oh yeah?
    Well I think Suze is a waste of time.

    I'm sure I'd get an SO smackdown, but wouldn't listen anyhow.
    My Life, My $$$.

    I'm with Jealoushe!
    Anyone ever go to their grave wishing they'd worked more?
    *friend of bar.ka*RIP all my lovely boys, gone too soon:
    Steppin' Out 1988-2004
    Hey Vern! 1982-2009
    Cash's Bay Threat 1994-2009


    3 members found this post helpful.

  18. #18
    Join Date
    Jul. 21, 2006
    Location
    South Carolina
    Posts
    5,027

    Default

    Quote Originally Posted by 2DogsFarm View Post
    Oh yeah?
    I'm with Jealoushe!
    Anyone ever go to their grave wishing they'd worked more?
    One of my favorite posters here, cssutton, made this reply (see post 26) to someone who asked him how he was still hunting and riding young horses into his golden years. I saved the whole thread for inspiration, but one of the lines in it that always stuck with me is "be active throughout your life. Too many people in their 30's and 40's are so anxious to get ahead that they do not get outdoors."


    2 members found this post helpful.

  19. #19
    Join Date
    Mar. 12, 2006
    Location
    Ocala
    Posts
    1,270

    Default

    Quote Originally Posted by 2DogsFarm View Post
    Oh yeah?
    Well I think Suze is a waste of time.

    I'm sure I'd get an SO smackdown, but wouldn't listen anyhow.
    My Life, My $$$.

    I'm with Jealoushe!
    Anyone ever go to their grave wishing they'd worked more?
    Probably not, but I GUARANTEE you there are millions who go to their grave wishing they had saved more.


    1 members found this post helpful.

  20. #20
    Join Date
    Jun. 12, 2009
    Posts
    461

    Default

    Yes, I would get a smack-down. The fact that I have student loans AND horses would most definitely set her off.

    I am however happy with my choices. That being said, I am in the process of getting to where Suze would want me to be but I think for me it's just a prudent choice to want to be there.
    "Be the change you want to see in the world."
    ~Mahatma Gandhi



Similar Threads

  1. Hit the nail smack on the head
    By Dinah-do in forum Hunter/Jumper
    Replies: 67
    Last Post: Sep. 27, 2011, 03:29 PM
  2. I love Suze Orman!
    By halo in forum Off Topic
    Replies: 9
    Last Post: May. 30, 2011, 05:07 PM
  3. Rewarding a horse with pat, scratch or smack?
    By CamdenLab in forum Dressage
    Replies: 40
    Last Post: Aug. 5, 2010, 03:30 PM
  4. Replies: 77
    Last Post: Apr. 14, 2009, 11:01 AM
  5. Lady, I am going to smack you. (RANT - LONG)
    By ybiaw in forum Off Course
    Replies: 39
    Last Post: Feb. 7, 2009, 02:44 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
randomness