The holidays might be an excuse to eat too much, but there’s no excuse when it comes to spending too much on gifts for loved ones according to personal finance guru Suze Orman.
In the latest episode of "Can I Afford It" Orman fielded calls from folks looking for her approval on purchases of everything from toys to a round-trip ticket on a private jet. She stuck to her rules in spite of it being the season of giving, making sure everyone met her requirements of spending wisely. Read on for this year’s purchase questions, and watch the videos for Suze’s responses.
Christmas Day Football Outing, $900
Becky, 36, wants to give her boyfriend a combined birthday/Christmas gift. She wants to take him to see his favorite football team, the Green Bay Packers, play the Chicago Bears on Christmas Day. She’s estimated it’s a $900 outing.
Becky’s finances look to be in pretty good order:
Income: $6,082/month take home
Expenses: $2,430 monthly bills, $1,550 rent
Debt: $31K student loans @ 1.68 percent
Savings: $30K liquid, $26K investments, $149K retirement