Suze Orman bringing ‘Money Class’ with lots of sass to OWN

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Suze Orman’s new series “America’s Money Class” premieres Jan. 9th on the OWN network.

Updated: February 8, 2012 8:06AM

Growing up poor in Chicago was the best financial lesson of all for Suze Orman.

The author of The Money Class went to money school in Chicago. Enrollment wasn’t optional.

“I came from a work ethic,” says Orman. “I figure I’ve been working since I was 12 and I’m still working just as hard.”

She was born on the South Side of Chicago in 1951 to Russian and Romanian-Jewish immigrant parents who managed a deli in Hyde Park.

“My dad got sick and he needed us to work and take care of things,” Orman says. “You just take care of things. I have to thank my parents every single day for poverty. That was a line I stole. But it’s a true line. I have to thank them because it taught me how to be who I am today.”

Originally, Orman thought she might be a brain surgeon.

“I probably wouldn’t have been a great brain surgeon,” she says with a laugh. “I don’t know why I think that, but the truth is I’m so passionate about what I do now. I can’t even imagine that I would be doing anything other than what I’m doing now.

“It’s interesting, but I do feel like I do financial surgery all the time.”

Her newest “financial surgery” takes place on the OWN cable network with the premiere of her new series, “America’s Money Class” at 8 p.m. Monday. She gives personal finance advice with classroom-style lectures before an audience, and a final exam at the end of six episodes with a chance to win $50,000.

“That idea came from me thinking what can I do to get people to pay attention? People don’t pay attention to the most important thing in their lives. They’re not paying attention to their money. I thought, how can I get those on board who every time they think about money they get that queasy little feeling in their stomach or they start thinking, ‘Oh, my God, I can’t deal with it. It’s just like my life.’”

“I thought, what could I do to involve those people into one of the greatest classrooms that have ever been presented on TV? It was my idea to say, ‘Guess what? Let’s take my money and give $50,000 for a first prize and $5,000 to five different people.’”

OWN gave Orman the green light. She crafted a final exam of 30 questions that will be whittled down to 10, plus an essay question. She will also offer guidebooks after the class and computer downloads.

Oprah was fully supportive of Orman, who appeared 30 times on “The Oprah Winfrey Show” and is the financial editor of O Magazine. “The message from her was, ‘Suze, people are hurting out there. They need honest advice and compassion. They need truth. Give them what they need, Suze.’”

When it comes to her personal life, Orman admits she hasn’t really talked about it publicly.

“The reason that up until now you haven’t seen a lot about my personal life is because I didn’t want anything to get in the way of money. I’m gay and I’ve been with KT now for 11 years,” she says. “But I always wanted to be known as the Money Lady and not the Money Lesbian.

“With that said, I’m always very open on my own show. When somebody asks a question I always talk about KT. I never try to hide any of it. I always showoff my girl because I love her so much.

Her best financial advice for the New Year is simple. “True wealth starts with everyday actions, thoughts and even the words that you use,” she advises.

“One of the greatest rules that will change your life is if you can simply get as much pleasure out of saving as you do spending then you can really turn everything around.

“No. 2, you have got to live below your means, but within your needs. If you can afford a new car, but your car only has 13,000 miles on it, it doesn’t matter if you can afford that new car. Drive your car another seven years if you can.

“If you live below your means that allows you to have extra money for you to save and fund an eight-month emergency fund or fund a Roth IRA or a retirement account. You need to do things that allow you to accumulate wealth, as you get older.”

As for the plight of the country, she says, “America has to come together as an America maybe for the first time ever. I have seen the middle class slowly but surely in the greatest country in the world totally disappearing. There is a highway into poverty and there is not even a sidewalk to get out.

“I think people are way overly optimist at this point in time,” she cautions. “I think we need to stop blaming the people who don’t have money as if it’s their fault.

“We need to gather together and help pick one another up by everybody’s bootstraps.”

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