Q:

How does Suze Orman's budget planner work?

A:

Quick Answer

Suze Orman offers a budget planner tool in the form of an online expense tracker on her website, suzeorman.com, and the tool works by asking a series of questions about the user's household, expenses, investments and income to show an excess or deficit of money at the end of the month, as noted on the Suze Orman website. At the end of the walkthrough when the results are shown, users can download a printable expense sheet.

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Full Answer

Using the expense tracker first involves stating the number of people living full time in the household and then entering each person's name, age range and gender. The tool also asks if the user has pets and how much money is in savings for an emergency. After answering these questions, users see a long list asking them to enter information about types of income and amounts as well as detailed expenses in the categories of home, vehicle, insurance, grocery, children, pet, entertainment, personal care, clothing, health, other, debt and tax expenses, shows SuzeOrman.com.

After all these monthly expenses are listed, a summary appears with the amount of total income, total expenses and excess or deficit. Users can then click a button to get an assessment that considers their expenses and income and offers advice on what the user should do to reduce expenses or build money for savings.

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