“We approached Paamonim mainly because we wanted to make a financial change as we were in a mode of survival. We were working around the clock, and the economic situation wasn’t improving.” With these words, A. reveals the start of the family process they went through as part of the Paamonim mentoring. The couple lives in northern Israel, parents to three children aged 7-11. Both are independent business owners, A. is a photographer, and D. develops and teaches technological courses for children.
The couple had one bank account to which the income from the two independent businesses was deposited and from which the expenses were withdrawn. The lack of separation created disorder. The couple could not track their income and expenses. “We weren’t in the red or in debt,” A. says, “but the feeling was that we didn’t know where the money was going and how much was withdrawn.”
The couple felt stuck. “We both worked hard but we felt like we couldn’t fulfill our dreams because we didn’t have enough money for them.” They felt they wanted to make a change. The move, which was approaching at the time, put them under additional financial pressure and they realized they needed help. On the recommendation of friends who had been mentored, the couple decided to ask Paamonim for assistance.
“The process changed us,” A. says, “We discovered our financial situation was very different from our estimate. We understood that we had to check all our expenses”. The couple received a mentor that accompanied them for nearly a year. The first step was to split their shared account into three different accounts, one for home and one for each business. Splitting the account was the first step on the way to the order the couple wanted. Each of them began to set aside a salary each month from the business account to the shared home account. Thus the salary became more regular and orderly.
Splitting the accounts also helped the couple recognize their income from each business. “You realize how much your business really brings in. You think that a certain amount comes in and suddenly discover that it’s not quite like that. As an independent busines owner, it’s very hard to see that.”
Another significant change was the recording of family income and expenses. Monitoring helped them see their financial situation more correctly. “Suddenly we saw that we were spending a lot of money on food and we were shocked. We were sure we were spending half the amount. This also really helped us understand where we needed to save. We switched to cheaper supermarkets, we changed habits and became more prepared for this.”
Our Paamonim mentor guided the couple throughout. “The mentor mainly helped us understand, find practical solutions and showed us different ways to approach the situation. It was like someone coming from a different world and laying out a map very clearly in front of us. That’s what helped us the most, the clarity of the situation and the solutions.”
“The process was challenging in terms of our preparation each time. We had to invest time in the process. Having someone accompany us has become an incentive for us to be prepared with the necessary details for every meeting.”
Today, A. relates to their situation at the end of the process: “Today, I know what I spend the money on, compared to the past. I have much more control. Now we know where we stand and what the financial situation is. It’s something that thanks to our mentor, we are in a totally different place.”
“I really recommend going through the process,” A. concludes, “I recommend it to every family, and especially to families who are in debt and in a financial situation they don’t know how to get out of. This is such a welcome initiative, especially for those who are in financial difficulty and can receive an mentor free of charge. The mentor gives you the feeling that you are not alone and that there is someone with you, who donates his personal time as a volunteer. There’s something very pleasant about it, that someone who you know is a volunteer, is here to help you.”
When asked what the couple’s dream is for the near future, A. replies: “I want to take the children and fly the whole family together to Italy, to change the atmosphere. I have to believe that we will succeed.”