Could this 1 piece of advice from Suze Orman improve your finances today?

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Suze Orman has spent decades improving the financial outcomes of many Americans.

The financial advisor and host of The Suze Orman Show is a New York Times bestselling author of personal finance books, with over 30 million copies in circulation (1). She has also given countless speeches on the subject, and even finds time to run a successful podcast, Women & Money.

When she gives financial advice, you should probably listen up.

This is especially true when she throws out a statement like this: “If you live your life with [this] one rule, your life will start to change (2).”

So, what is this one rule — and how can you follow it?

Her advice is simple, but powerful.

“Buy what you need versus can afford, when you can afford more than you need.”

In other words, if you’re looking to build financial security, you shouldn’t upgrade your lifestyle simply because you can afford to.

As an example, Orman said she could technically have afforded an apartment that was much more expensive than the one she actually owns. But by purchasing property below her budget, she created a monetary buffer that added to her sense of financial stability over the long run.

Orman isn’t the only successful entrepreneur who lives by this rule.

IKEA’s late founder, Ingvar Kamprad, once shared in a documentary how he still bought clothes at flea markets even after he became a billionaire (3). To him, maintaining that “thrifty nature” was a critical part of his company’s success.

And former Berkshire Hathaway CEO Warren Buffett famously still lives in the home he purchased for just $31,500 in 1958 — more than 60 years ago (4).

The message here can be summed up in one word: restraint.

Read More: Approaching retirement with no savings? Don’t panic, you’re not alone. Here are 6 easy ways you can catch up (and fast)

Many Americans, though, struggle to exercise similar restraint — especially when it comes to spending with their plastic.

However, there are ways to make the most of every dollar you spend by turning them into investing opportunities with the help of Acorns app.

It works like this: All you have to do is link your bank account, and Acorns will round up your transactions to the nearest dollar as you make purchases on your credit or debit cards, investing the difference in a smart portfolio of ETFs.

This way, even as you spend, you’re steadily building your portfolio. With rising expenses often outpacing income, putting your savings on auto-pilot could potentially help you get out of your own way.

Sign up now and you can get a $20 bonus investment to kickstart your investing journey.

If spending is still a problem, you’re not alone.

Many Americans find themselves in debt as they struggle to bridge the gap between what they can afford and what they want to purchase (but don’t actually need).

For example, household debt hit a record $18.59 trillion in Q3 2025, with credit card and auto loans rising alongside mortgage debt (5). This financial pressure has left many American families in a tough spot, but Orman suggests her one rule could help them regain control.

“How do you start to live by that rule?” she asked (2). “From this day forward, I would like you to make a vow to yourself that, for the next six months … [you] only buy needs, not wants.”

How exactly do you make that happen, though?

One way to ensure you’re not overspending is by getting a handle on your income and expenses with a budget, which can help you work toward any long-term goals.

But making a budget you can stick to is not always easy in practice. Sometimes, you need to bring in a pro to help.

That’s why Advisor.com connects you with vetted fiduciary financial advisors near you. An advisor can help crunch the numbers and build a financial plan that works for you.

All you have to do is answer a few simple questions about your finances, and Advisor.com matches you with a short list of certified experts to choose from.

You can then set up an introductory meeting with no obligation to hire.

With Advisor.com, you can start to take control of your spending.

However, not all expenses can be cut. There are still those essential expenses, which can be a hefty burden if you’re already sinking in debts.

In a January 2026 blog post on her website (6), Orman shared a message for Americans already grappling with credit card debt, offering reassurance to anyone relying on it to cover basic necessities.

“If it is for needs, such as covering a health insurance deductible, or groceries,” she wrote, “then my advice is to take a deep breath and remind yourself: this is your problem, but it is not your fault.”

Orman’s words highlight the reality troubling many Americans right now. The costs of essential goods — or “needs” — continue to rise across the country.

For instance, a Lending Tree study reveals that more than 18 million American homeowners are considered “house poor” — they are spending more than 30% of their monthly income on housing costs (7).

Those costs can include everything from mortgage payments, utility bills, renovations, property taxes and home insurance policies. So, even once you are only spending money on the things you need — rather than want — it might be a good idea to try to ensure you’re not overspending there either.

When it comes to insurance, there are ways of lowering expenses and getting some much-needed relief.

For instance, you can save about $482 per year on average by comparing home insurance rates from leading insurers near you and selecting the lowest available rate through OfficialHomeInsurance.

Using OfficialHomeInsurance is 100% free. All you have to do is enter some information yourself and about the home you’d like to insure. Within two minutes, the platform will sort through its database of over 200 insurers and display the lowest rates offered.

From there, you can compare the coverage offered by providers near you and read reviews before making a decision.

As if home insurance wasn’t bad enough, there is also car insurance. It’s getting more and more expensive to own a car.

For example, data retrieved from the U.S. Bureau of Labor Statistics suggests premiums rose by more than 60% from December 2020 to 2025 (8).

So, it can really pay off to ask yourself: When was the last time I shopped for a better rate on your car insurance?

Now you can answer that question by shopping around for better car insurance with OfficialCarInsurance.

The process is easy. They start by asking you some quick questions that help determine your insurance. Things like your age, your home state, the type of vehicle you drive and your driving record.

Based on your answers, they’ll sort through leading insurance companies in your area, including top providers like Progressive, Allstate and GEICO, ensuring you find the lowest rate possible — and the platform is entirely free to use.

Not all platforms are free, even if they’re helpful.

Orman knows this, too. In a 2024 interview for MSNBC, she pondered the biggest financial mistakes being made by women over the age of 50 (9). Her answer? “Not really knowing where their money is.”

With so many recurring bills, from utilities to Netflix, it’s easy to lose track of where it all goes. An app like Rocket Money can easily flag recurring subscriptions, upcoming bills and unusual charges by pulling in transactions from all your linked accounts.

This can help you cut unnecessary costs, and then you can manually redirect savings straight into your retirement fund. No spreadsheets, no guesswork, no stress. Small habits like this can make a big difference over time.

Rocket Money’s intuitive app offers a variety of free and premium tools. Free features include subscription tracking, bill reminders and budgeting basics, while premium features — like automated savings, net worth tracking, customizable dashboards and more — make it easier to stay on top of your retirement contributions and overall financial goals.

We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.

Suze Orman (1), (6); @SuzeOrman (2); The Guardian (3); CNBC (4); Federal Reserve Bank of New York (5); Lending Tree (7); U.S. Bureau of Labor Statistics (8); MSNBC (9)

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.