Many financial problems have nothing to do with a lack or abundance of income, but with your mental state.
"Sometimes your mind lets you do things with your money that make no sense," Suze Orman said.
On an episode of "The Suze Orman Show," a 49-year-old caller in Kentucky said that he "only makes $41,000 per year" and is not sure he can afford to live on his own.
"First of all, you need to change how you think about your situation," she advised. "You said you only make $41,000 a year, and that gives you a poverty mentality."
With the median income of all U.S. single-male households at roughly $37,000, Orman told the caller, "a lot of people out there wish they could make $41,000.
"It's not what you make, but how you feel about what you make and what you spend," she said.
On the other side of the spectrum, Orman warned viewers not to get overconfident—like a friend who recently bought her "dream house" before selling her current home.
"What are you thinking, girlfriend?" was her response to the news, Orman recalled.
"You are not to be like this friend of mine," said Orman, who counsels everyone to prepare for emergencies and not overextend themselves financially.
"I'm asking you to think with your mind, two, three, four times before you do something," she said.
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