Suze Ormans Money Dos and Donts for the COVID Economy

Suze Orman shared her financial dos and donts for navigating the COVID economy. Love her or find her grating she generally gives solid practical advice.

The basics havent changed. Emergency fund first. Pay down high interest debt. Dont spend more than you make. These rules apply whether theres a pandemic or not.

CNBC published her full list of recommendations for people worried about their finances.

The pandemic specific advice centers on building a bigger cash buffer than usual. Uncertainty means you might need more cushion. Eight months expenses instead of three.

Financial stress compounds other pandemic anxieties. Getting money right reduces overall worry.

Orman advises against panic decisions. Selling investments when markets drop locks in losses. Raiding retirement accounts has long-term consequences. Patience matters even when its hard.

She also emphasizes having hard conversations. If you cant pay rent talk to your landlord. If you cant make minimums call your creditors. Ignoring problems makes them worse.

The reality is many people dont have the income to follow this advice. She acknowledges that while still offering guidance for those who can implement it.

Advice published June 2020