Save
Saving allows us financial freedom; Make a dream come true, buy what you want, and the ability to better cope with unexpected expenses. It is important to save in order to prepare for future large expenses (bar mitzvahs, studies), or changes in income – without going into overdraft. In savings, we put aside a little something today to make it easier for us tomorrow.
Say No to Loans
Do you have a minus in the bank? You’re not alone! The Paamonim survey showed that one in three Israelis took out a loan in the past year – mainly to cover the overdraft at the bank. The loan has become a plague of the state – advertisements, advertisements and text messages calling on us to enslave the future for the present. Before taking out a loan, checkif you really need a loan.
Bargain
Do not accept as a divine decree the amount of fees, interest and deposits in the bank, the price we pay to the cable, satellite, cellular or Internet provider, the amount of management fees in insurance, and the price demanded by the seller when you bought an electrical device.
Don’t be shy! Bargain and save hundreds of shekels a year in this way.
Read the fine print
Check how long the sale is, ask if the price includes assembly or transportation, check if the coupon also gives a discount on weekends. Find out what the cancellation conditions are before you rush to pick up the child from the class and sign without seeing what.
Compare
Goshopping wisely with a ready-made list, check the cost of the weekly basket at several supermarkets in your area, do not go out of habit to the supermarket or the expensive neighborhood grocery store.
Compare the meter reading on your electricity/water/gas bill to the number on your meter.
Open
Open the messages from the pension, the bank, and the letters from the provident fund and the study fund, whether they reach you by mail or by e-mail. About half of us don’t read the bills due to us. Many of us ignore bills because we don’t understand them. If you open – you will understand. Those who do check their accounts find an unimaginable amount of overcharges of thousands of shekels every year.
Asked
The bank teller tells us: Linked to the prime, PREM, P.M., F.C., Floating Rate, PRI, FAT, and the height of the frame, and you don’t understand what he’s saying – ask. Awareness of the state of your bank account, proper management of your account and educated use of the various payment methods will help you avoid an overdraft (overdraft) situation in the account. Knowledge of banking services will help intelligent management of the bank account.
Ignore promotions
Did you see a sign for a sale, end of season and special discount and took out your wallet and checked the real price of the product? You inquired how much the product costs elsewhere without a “sale”. Did you buy a “savings package” at a higher price and throw it away because you couldn’t finish it all? Be wise consumers because shopping and purchasing products is not an experience or a form of entertainment.
Don’t throw away
According to data from the Ministry of Environmental Protection, about half of the garbage in Israel consists of edible food. We often throw away products with an expiration date approaching, half-finished lunch boxes, or food that kids are tired of eating. Instead of throwing away, buy less. How much food do you throw away?
Check
What are the funds and rights due to me. Maybe you deserve a tax refund from the IRS? Maybe there’s a continuing education fund where you worked a decade ago? Tidy up the pile of documentsand see if you deserve money.
Important to remember
On the way to economic independence, two sides must be dealt with: cutting expenses on the one hand and increasing income on the other. Some increase income because the cut in expenses was not enough to achieve budget balance, while others decide to increase income so as not to harm the standard of living by making too many cuts. Either way, increasing revenue is definitely something to consider on the road to independence.
