People are afraid of making mistakes with their money and frequently don’t give investments time to work, according to personal finance guru Suze Orman.

The two-time Emmy Award-winning television host, New York Times best-selling author, magazine and online columnist, who will speak on the Island this weekend, says people are the same about their money the world over.

“Money really does not have a nationality,” Ms Orman said in an interview. “Everybody feels the same about money whether they’re from the US, China, India ... or Bermuda.

“One thing we all have in common is that we’re afraid of money and afraid of making mistakes with it.”

Ms Orman, who is being brought to the Island by Colonial Pension Services Ltd, a member of the Colonial Group International, will appear at the Fairmont Southampton on Saturday to share some sage financial advice, as she has been doing for more than 12 years on CNBC’s Suze Orman Show.

She said she has no prepared remarks for Saturday’s presentation.

“Everything will be off the cuff,” she said. “I know what I’ll need to talk about when I see the people who come and hear what they need to know. I’ll shape the talk to their needs.”

Her hope is that everyone who attends will leave feeling more confident and empowered about their personal finances.

“In the US, I speak to audiences of 20,000, but this will be much more intimate and will give people the chance to have personal contact, one to one,” she said.

Asked what was the biggest mistake that people made with their money, Ms Orman said it had to do with time.

“People keep thinking they always have more time to put it away for their future. Because of the way that compounding works, people need to understand that time is the most important ingredient you have in investing. People have got to start getting involved with their money.”

Ms Orman said the financial crisis had shaken up people and the way they thought of their money — but not for long.

“People have a very short-term memory,” Ms Orman said. “The lesson of the crisis should have been to ensure that you have your assets invested properly. You can’t keep taking money out of investments and expect that you’re going to be OK.”

If there was one thing she would recommend to Bermudians, it was to ensure that their pensions were as fully funded as possible, capitalising on the National Pension Scheme (Occupational Pensions) Act 1998.

“If they are not taking full advantage of the Pensions Act, then it’s one of the biggest mistakes they can make,” she said. “When the employer is matching your contribution, you can’t afford to pass up on free money. I know it’s been mandatory since 2000, but it’s really important people make sure they’re not missing out and should even think about putting some more in.”

Ms Orman said this will be her first visit to Bermuda.

Forbes magazine awarded Ms Orman a spot in the top ten on a list of the most influential celebrities of 2013. And in January 2013, The Television Academy Foundation’s Archive of American Television has honoured her broadcast career accomplishments with her inclusion in its historic Emmy TV Legends interview collection.

Saturday’s event starts at 2pm. Tickets cost $40 and can be purchased through www.bdatix.bm.