With economic uncertainty around every corner, it can be difficult to ascertain exactly what you should be doing to build wealth and achieve financial freedom. In other words, you may want to adjust your financial goals to best align them with the expertise of seasoned financial professionals.
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While everyone’s rushing to make money moves to offset a potential recession, financial guru Suze Orman thinks you should slow down before you panic and has some deep-dive insights into what she thinks are the four best money moves you can make this year. So, what are they, and how can you implement them into your daily routine to improve your finances?
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Always Be Informed
We’ve all got a lot going on in our lives, and it can be challenging to carve out time every week or so to get totally up to date with any changes to the realm of personal finance and the larger economy. But, if you want to be smart about money, you need to know what’s going on. Fortunately, you can stay informed by keeping up with Orman’s and other financial gurus’ fresh content.
In a blog post on her website, Orman wrote, “I promise that I will report on any policy changes that impact your financial security and offer my best advice on what to do. And what not to do.”
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Follow the Facts — Not the Speculation
With the Trump administration in full swing, it’s easy to get overwhelmed by the sheer number of policies and changes in the news. But Orman warns against succumbing to floating speculation and instead suggests aligning yourself with concrete facts.
This can be tough, especially when you’re deeply concerned about the future of things like Social Security, for example. Despite all the noise about benefit cuts, Orman’s not buying into the panic. “Anyone saying the system is ‘broke’ is fearmongering,” she wrote.
Her point? Social Security remains hugely popular across party lines, and “a significant portion of retiree households rely on it for all (or a majority) of their income.”
Orman continued, “I can’t stress this enough: there is a difference between a policy being floated, and a policy being enacted. Perhaps the most unsettling part for many of you is the mention of reducing Social Security (and Medicare) benefits.
“Please don’t let that concern push you to change your strategy for delaying your start date to collect benefits. Be patient. Floating is not policy,” and she added, “Making financial decisions based on hunches is never a good idea.”
Focus On What You Can Do To Build Wealth Today (Not Yesterday or Tomorrow)
It’s easy to get caught up in the past or the possible future. You may think, “Oh I should have invested in XYZ last year,” or “I really must up my investing game — maybe next year.”
Don’t get too caught up in what was or what could be. Orman said to focus on what you can control today. Do this by being totally tuned into what is going on with your personal finance situation and how you can improve it right this minute.
Evaluate Your Portfolio
Here’s something actually worth doing right now: Look at your portfolio.
Orman wrote in a blog post on her website, “…when was the last time you logged into your retirement and investment accounts and checked your overall asset allocation: how much is invested in stocks, how much in bonds and how much in cash? The U.S. stock market is up about 30% for the year, as I write this in late December 2024. And it has nearly doubled in the past five years.”
Her concern? Your careful investment mix might be out of balance. As she put it: “Depending on how hands-off you have been, your 60% allocation to stocks could now represent 70% or so of your overall portfolio.”
Take Orman’s advice and take the time to review your portfolio so you can ensure your investments are well-balanced and building wealth.
Clean Up Your Expenses
Another great direction to take with your financial decisions is to cut expenses when possible, especially those pesky, recurring credit card charges. Orman suggested checking “your credit card statements and look for all your recurring payments.”
Her tip for the expensive services you want to keep? “Contact customer service and ask for a better deal.” And if you’re carrying credit card debt, she wrote, “Card companies often will reduce the interest rate on your credit card balance, but only if you ask!”
Relax! You’re Doing Great
Perhaps the easiest money move you can make is, well, not making any moves at all — just for a little while — to give yourself grace and enhance your dedication to unlocking financial freedom. Take your mental health seriously and take deep breaths — literally. And remember, you’ve got Orman on your side.
“I want to repeat my promise: When there is actual news on what will happen with your money and financial future, I will be right here explaining the facts and offering my advice on the best moves based on those facts,” Orman wrote. “In the meantime, I hope you find the space and grace to take care of yourself, and those you love. That’s my best, and most timeless, advice.”
Sometimes the smartest money move is just staying calm until you have all the facts. Her final advice is to stay cool and focused during tough economic times. “Deep breath. We got this.”
Laura Beck and Caitlyn Moorhead contributed to the reporting for this article.
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Sources
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Suze Orman, The Best Money Move for 2025
This article originally appeared on GOBankingRates.com: Suze Orman’s 6 Best Money Moves To Make This Year
