Suze Orman made her Christmas Eve 2024 appearance on The Chris Cuomo Project and, as expected, she didn't hold back. The conversation started with Trump's proposed tariffs – what they could mean for American consumers and whether they would help the economy. But in true Orman fashion, the personal finance expert quickly turned the discussion toward what she sees as the real financial crisis hitting Americans: skyrocketing home insurance costs, especially in Florida.
Orman acknowledged that tariffs are a big deal. They could drive up costs for everyday consumers, but she wasn't convinced of their impact. "Typically, yeah, you put tariffs on, prices go up for everybody," she said, noting that with Trump, "you can't just expect normal results." She wasn't dismissing concerns about how tariffs might affect household budgets, but she had bigger financial fires in mind.
One of those fires? The home insurance crisis.
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Orman got personal about her own property insurance bill in Florida, revealing a staggering increase that many homeowners in the state can relate to. "My own apartment in Florida used to be four or $5,000 a year to insure," she said. "It is now $28,000." She wasn't just throwing out a shocking number – she was making a point about the affordability crisis many homeowners face.
And then she hit the real question. "So when you start to look at the real problems that we're facing in the United States, in my opinion, it's what are you going to do about that?"
The reality, she explained, is that even if people can afford to buy a home, the rising cost of insurance is making ownership unsustainable. "Even if they were able at one time to afford the price of a home, you know why now they're giving it up? Not because of their mortgage payment. Not because of the interest on their mortgage. Because they can no longer afford the property insurance rates that have skyrocketed."
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And it's not just insurance – Orman pointed to medical costs as another financial burden weighing down Americans. She called out issues with Medicare Advantage, where people think they're saving money, only to realize later that certain claims won't be covered. She painted a broader picture: a country where many people don't have enough savings, are unsure if their jobs will be replaced by AI and are struggling with basic affordability.
That's why, in her view, the tariff debate – while important – is missing the bigger picture. Yes, tariffs could lead to price increases, but what about the millions of Americans who can't afford necessities? "The majority of people maybe don't even have the money to buy the thing with or without tariffs to begin with," she said bluntly.
Cuomo pressed her on the disconnect between economic policies and those who support them, pointing out that many who voted for Trump's policies might not benefit from them. Orman didn't disagree. "I just don't think they understood really why they were suffering, why things were going up, what was really going on," she said. In her view, their vote was "a rebellious vote that very well could backfire on them." But she added, "I hope it doesn't backfire on them."
Her frustration wasn't just with politics but with financial habits, too. As the conversation shifted to holiday spending, Orman didn't hold back on her usual tough love. She shared a story about how she used to help clients get out of debt, only for them to blow their budgets during the holidays because of retail promotions. "If you have to buy something and put it on a credit card knowing that when it comes due you're only going to be able to pay the minimum payment due, you better double or triple the price of anything that you're buying to understand the true cost of it."
She wasn't saying people shouldn't give gifts but pushing for more financial honesty. "If you're going to financially suffer because of that, that's not true generosity. In your own way, you are being a finan-liar."
Orman's approach isn't for everyone – some might call it harsh, but her track record speaks for itself. She's spent decades giving people financial wake-up calls, and this time was no different. Whether it's tariffs, insurance or debt, her message remains: figure out what matters and make financial decisions based on reality, not emotion.
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