Suze Orman says if you don't have enough money in life, 'you are the reason why' — here are 3 things you can do to move towards your financial goals

“You are either thinking you don’t deserve it, you’re saying you’re never going to get out of debt, or you are taking action and giving all your money or anything that you do to somebody else because you don’t think you are worthy.”

It can be argued that this is too simplistic a take. However, building on Suze’s message, here are three simple things you can do to break these mental barriers and move closer to your financial goals.

Change your mindset

There seems to be a sense of financial hopelessness that supports Orman’s thesis. In fact, 18% of Bankrate’s 2024 Financial Success Survey respondents said they would never make their desired income. And 61% of renters surveyed by The Harris Poll Thought Leadership Practice said they might never be able to purchase a home.

Almost 30% of Americans with credit card debt believe it will take up to five years to pay off, while 11% believe it could take up to a decade, according to a Clever Real Estate survey.

This mindset could be preventing many from seeking help or taking action to improve their financial situation. A sense of hopelessness could become a self-fulfilling prophecy. Orman believes a shift in mindset could be the first step to better outcomes. “Anything and everything is possible in your life if you simply walk towards who you are meant to be versus away from it,” she said.

Simply put, a shift in perspective should help you to achieve better financial outcomes.

Live below your means

Orman’s top advice to her followers is to “buy what you need versus what you can afford when you can afford more than what you need.” In other words, she recommends living below your means to accumulate savings and build wealth.

In the current economic climate, this is easier said than done. The prices of essentials such as housing, groceries and fuel have risen quickly in recent years, leaving little room for savings. In fact, according to the Bureau of Economic Analysis, the U.S. personal savings rate is just 3.9%, down from 7.2% before the pandemic in January 2020.