5 Questions with...Suze Orman

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5 Questions with...Suze Orman

Wednesday, Dec. 29, 2010

By Jeff Nuich
CSN Chicago Senior Director of CommunicationsCSNChicago.com Contributor

Want to know more about your favorite Chicago media celebrities? CSNChicago.com has your fix as we put the citys most popular personalities on the spot with everyones favorite local celeb feature entitled 5 Questions with...

On Wednesdays, exclusively on CSNChicago.com, its our turn to grill the local media and other local VIPs with five random sports and non-sports related questions that will definitely be of interest to old and new fans alike.

This weeks guestwithout question, one of the most popular and well-respected personal financial advisors in the world todayshes earned countless awards and accolades in her illustrious career and is as successful as they come in reaching her massive fan base via all forms of mediathis Chicago native can be seen every Saturday night at 8:00 PM & 11:00 PM CT on CNBC as the host and star of her very own showjust a fabulous woman whos one of our very ownhere are 5 Questions withSUZE ORMAN!

BIO: Suze Orman has been called a force in the world of personal finance and a one-woman financial advice powerhouse by USA Today. A two-time Emmy Award-winning television host, New York Times mega bestselling author, magazine and online columnist, writerproducer, and one of the top motivational speakers in the world today, Orman is undeniably Americas most recognized expert on personal finance.

Orman is the contributing editor to O The Oprah Magazine, the Costco Connection Magazine and for the last nine years host of the award winning Suze Orman Show, which airs every Saturday night on CNBC. Over her television career Suze has accomplished that which no other television personality ever has before. Not only is she the single most successful fundraiser in the history of Public Television, but she has also garnered an unprecedented seven Gracie awards, more than anyone in the 35-year history of this prestigious award. The Gracies recognize the nation's best radio, television, and cable programming for, by, and about women.

In October 2010 Forbes honored Orman as one of The Worlds 100 Most Powerful Women. In May 2010 Orman was presented with an Honorary Doctor of Commercial Science degree from Bentley University. In that same month, Orman received the Gracie Allen Tribute Award from the American Women in Radio and Television (AWRT); the Gracie Allen Tribute Award is bestowed upon an individual who truly plays a key role in laying the foundation for future generations of women in the media. In October 2009 Orman was the recipient of a Visionary Award from the Council for Economic Education for being a champion on economic empowerment. In July 2009 Forbes named Orman 18th on their list of The Most Influential Women In Media. In May 2009 Orman was presented with an honorary degree Doctor of Humane Letters from the University of Illinois. In May 2009 and May 2008 Time Magazine named Orman as one of the TIME 100, The Worlds Most Influential People. In October 2008 Orman was the recipient of the National Equality Award from the Human Rights Campaign. In April 2008 Orman was presented with the Amelia Earhart Award for her message of financial empowerment for women. Saturday Night Live has spoofed Suze five times during 2008-2010. In 2007, Business Week named Orman one of the top ten motivational speakers in the worldshe was the ONLY woman on that list, thereby making her 2007s top female motivational speaker in the world.

Orman who grew up on the South Side of Chicago earned a bachelors degree in social work at the University of Illinois and at the age of 30 was still a waitress making 400 a month.

1) CSNChicago.com: Suze, thanks so much for taking time to share a few minutes with us. Lets get right to itWe couldnt be prouder to say you were born and raised in our great city. Whats your fondest memory about growing up in Chicago?

Orman: There are way too many for me to recount in the space allotted, however, my favorite would have to be during the summer riding my bike all by myself from 81st and Oglesby where I lived to LaRabida and sitting there and watching the boats go by on Lake Michigan. It was warm, beautiful and it allowed me to daydream about the what if's of life. And when I think back about the what if's that happened to me...all I can say is WOW! Here's to daydreaming at LaRabida!

2) CSNChicago.com: You grew up on the south side of Chicagois it safe to assume youre a White Sox fan or did you grow up rooting for the north side Cubs as well?

Orman: My dad was hard of hearing and back then, the hearing aids were not as great as they are today... so when my dad watched TV everyone in the family watched what my dad watched, whether they wanted too or not.

The TV was so LOUD!

I suppose, it was just easier to go and sit with him and enjoy our only TV and watch the White Sox, Bears and Blackhawks, screaming for Bobby Hull! And yes, every now and then we even turned on a Cubs game. However, to this day, I am an avid sports fanjust ask Coach Lovie.

3) CSNChicago.com: Youve been a crusader in helping young career starters get out of their financial crises via your on-going advice and best-selling book The Money Book for the Young, Fabulous and Broke. For most young adults, its either student loan andor credit card debt thats really hurting their financial advancement. What are your Top 3 keys in helping young adults get out of their financial debts right now?

Orman:

1) Don't get in debt to begin with. But if you are already in debt, don't think you can ignore your debt, for you can run but you cannot hide. You have to face it to erase it. So the first tip is to tell everyone you know how much debt you have. Why do I want you to do this? Because if you do, then others will start to be honest with you as well, as you will all realize that none of you have any money. So there is nothing wrong with not going out to spend money you don't have to impress people you don't even know or like. Use that money to pay down your debt. When you get honest about who you really are, what you have starts to increase. Don't believe it? - then just give it a try.

2) Make paying off your student loans that carry an interest rate above 4 your number one priority in your financial life. Student Loans cannot be discharged in bankruptcy (in most cases). So while you may think that you are getting away with not paying your student loans you most certainly are not. The loan companies are just waiting till your 40,000 of student loan debt grows to 100,000 or more and then you can bet your little bippy that you will hear from them. They can garnish your wages to get that money; they can even, as you get older, take your social security check. So you best get on those student loans right now do you hear me! Don't wait - and pay them down now. By the way, what is a bippy?

3) If you have credit card debt on a credit card with a major bank and if you have a good FICO score (anything above 720), you should consider doing a balance transfer to a credit card issued by a Credit Union. Did you know that federally chartered credit unions cannot charge you more than 18 interest by law on your credit cards? Hmmmmcompare that to the 29.9 you may be paying on some of the major banks credit cards. Not all credit unions credit cards are created equal, so go to creditcardconnection.org to find a great credit union near you. And yes, anyone can belong to a credit union.

4) CSNChicago.com: Although things appear to be improving, what are your general thoughts on the Obama administrations handling of our nations financial crisis and is there hope in your opinion that national financial stability will once again take hold in the near future?

Orman: If you are willing to get involved in your own financial affairs and not wait for the government to save you, the economy to save you, the stock market or gold market to save you - and you believe that you have what it takes to save yourself - then you will be just fine. At times like this, you need to learn to live below your means but within your needs. That word was BELOW your MEANS not WITHIN THEM. As far as the President? Well, to find fault or praise with anyone at this point in time does no one any good. What can help is you making the decision that you are going to get involved with your money and help yourself create your New AMERICAN DREAM.

5) CSNChicago.com: Naturally, we all know money doesnt equal happiness, but what would you say to someone who says to you: Money is the root of all evil.

Orman: I would say. You are so DENIED. Are you kidding me! Money itself never did anything to any of you. It can't - it is just a piece of paper! It does not cry when you rip it. It does not call out to you to say "hey you lost me." Money is nothing more than a physical manifestation of WHO YOU ARE. You go out and work for money. You invest, spend or save the money you earn. Without YOU, your money cannot do anything. So, if you think you are the root of all evil, then go ahead and think it. But that too is just a waste of your time. Here is the truth: Money alone will never make you happy, but lack of money sure will make you miserable.

BONUS QUESTIONCSNChicago.com: Thanks again Suze for sharing your time with us. Just one last question that we must knowwhat is Suze Orman doing for New Years Eve this year?! Please tell us

Orman: I will be in Los Angeles with all my friends at the OPRAH WINFREY NETWORK (OWN), watching this amazing network go live for the first time at midnight. I cannot wait. Now that is something to raise your glass to.

Orman LINKS:

Suze Ormans official website

The Suze Orman Show on CNBC

Suzes upcoming RadioTV appearances

Suzes financial Resource Center

Suzes Money Minded Moms site

Contact Suze

Check out this season's second episode of Chicago Fire All Access

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Check out this season's second episode of Chicago Fire All Access

Check out the second episode of the second season of Chicago Fire All Access.

In this episode, the team helps out in the Chicagoland community, talks about finding comfort foods in Chicago and life on the road in the MLS. 

Bears 'horizontal' leadership plan building on some surprising leaders

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Bears 'horizontal' leadership plan building on some surprising leaders

Sometimes you really do have to just appreciate the attitude. Because Bears coaches do, in ways of significance in what kind of team the 2016 Bears will become.

Ka’Deem Carey has been a backup his first two Bears seasons, yet now finds himself with more games played in a Bears uniform than any other Chicago running back. The 2014 fourth-round draft pick accordingly has set one very lofty 2016 objective for himself:

“Just being a leader, really trying to focus on that,” Carey said during the team’s OTA this week. “We’ve still got a young team, I’m vocal, coaches like the way I run the ball, and sometimes the way I play out there, the coaches like that and want to pass that on to teammates.

“So I’m just trying to be a leader to these young guys.”

Somehow the notion of a 23-year-old talking about setting an example for “these” young guys shouldn’t be dismissed. At all. Because Carey is representative of something developing within the current team.

Leadership is a popular, near-annual topic for Bears teams, no less so early this offseason as the 2016 team takes shape without 40 percent of its elected – and veteran – captains from the 2015 season.

Players elect five captains: two for offense, two defense and one special teams. Coach John Fox names a sixth captain each based on merit from the previous week.

The problem for the Bears is that two of the 2015 five elected captains – running back Matt Forte, safety Antrel Rolle – were not brought back by the organization this offseason. Veterans were added in free agency, but headcount does not translate into instant chemistry, cohesion or leadership.

That falls to a Carey to infuse. Elsewhere, guard Matt Slauson, a popular leader in the offensive-line room and huddle, was released, as was left tackle Jermon Bushrod. After just three NFL seasons, Kyle Long abruptly becomes the offensive lineman with more games in a Bears uniform than anyone else in the O-line room.

Indeed, longevity is no criterion whatsoever for a Bears “leadership” role. Teammates elected Pernell McPhee one of the defensive co-captains last year, his first as a Bear. And linebacker Danny Trevathan, brought in from Super Bowl champion Denver, could emerge as one in his first, using precisely the same calling card that McPhee did.

“I'm just going out there and being an example,” Trevathan said. “It's not hard, you know, I've just got to go out and play the game that I know how to play but also get guys to come along and speak and communicate and be on one page with these guys.”

The key is the “horizontal” leadership concept – leading not from a few at the top, but from multiple strong individuals in a leadership layer.

“Obviously missing Matt Slauson, missing guys like Slauson and Forte, there are large voids to be filled,” Long said. “But this team has been built on horizontal leadership and we’ve done a great job bringing in the right people, defensively, offensively and the special teams unit.

“I love the coaches, I love the guys on this team, I don’t think that will be an issue, so I don’t really have to take on that much bigger of a role because of the guys that we have in our room. Everybody is kind of accountable themselves.”

Melo Trimble will return to Terps for junior season

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Melo Trimble will return to Terps for junior season

Well, at least Mark Turgeon won't lose his entire starting lineup.

With four-fifths of Maryland's starting unit already off to the NBA in one fashion or another, Melo Trimble decided to return to the Terps for his junior season, opting to postpone his pro career for at least one more year.

"I am really excited to return for my junior season at Maryland," Trimble said in the team's announcement. "It’s truly special that I get to continue to play in front of my family, friends and our amazing fans. I’m looking forward to working out with my teammates this summer, and I am excited for what we can accomplish. I learned a great deal through this experience, and I am committed to working hard in getting better each day. I’m appreciative of all the support that I have received from coach Turgeon, my family and my teammates throughout this process. I look forward to continuing my education and building upon the success that we have had at Maryland."

Trimble waited an awful long time to make his decision on whether to withdraw from or remain in the NBA Draft, with news of the decision coming out just a couple hours before Wednesday night's deadline.

Trimble had a strong follow up to his sensational freshman season last year, improving as a distributor and as a defender despite a significant dropoff in his scoring and shooting numbers. But he still led the way for a star-studded Maryland team that advanced to the program's first Sweet Sixteen in 13 years.

After averaging 16.2 points per game, shooting 44 percent from the field and 41.2 percent from 3-point range and getting to the free-throw line nearly seven times a game as a freshman, Trimble averaged 14.8 points per game, shot just 41 percent from the field and 31.5 percent from 3-point range and averaged just better than five free throws a game as a sophomore. Still, he earned All-Big Ten First Team honors for the second straight season.

The expectations placed on him and his team were huge. Trimble was the conference preseason player of the year, and the Terps were tabbed as one of the favorites to win the national championship.

A return to school is not without its risks, as a further decline in Trimble's shooting numbers could prove costly for his draft stock. Plus, with many of the stars from last season's team gone, the Terps will enter the season with vastly different expectations, with many questioning whether they'll even make the NCAA tournament.

However, Trimble could be doing exactly what the new rules were designed to do: using better access to information to make the best decision. If NBA teams truly believe he's not ready for the pros, continuing to develop at the college level makes a heck of a lot of sense. Plus, while his stock was high after that freshman season, it no doubt took a hit after his sophomore season and could rocket back up with another big year as a junior.

Plus, Trimble's return means Turgeon doesn't have to go into full-tilt rebuild mode a season removed from one with championship expectations.

"Melo informed me (Wednesday) night that he has decided to return to Maryland for his junior season," Turgeon said. "After gathering information throughout this process, I agree that this is the best decision for him. Melo is a very special person. He is a winner, and his impact on our program has been immeasurable. Melo has an extremely bright future ahead of him both on and off the basketball court. We are excited that he will continue to pursue his degree and build upon his legacy in College Park."