This Shabbat Makor Rishon profiled a family who is trying to learn how to save money. They received help from Pa’amonim, a very worthy organization which, instead of just giving the family money, helps them manage their money and get out of debt.
Some of the tips they learned:
- Always compare your income and expenses and decide what is necessary and what is extra.
- Don’t blame the high prices on your debt. Take responsibility and find solutions. Complaining doesn’t put money in your pocket.
- Change the way you shop in the supermarket. The husband started shopping instead of the wife and children. He went to the store with a specific list and a budget instead of buying whatever looked interesting. Don’t look only at eye level- good deals can be found above and below. You don’t always have to buy the most popular brand.
- Change the way you look at tlushim (tavei kniyah). Don’t use them on frivolous items- use them for groceries and other necessary expenses.
- Involve the children in budgeting. Teach them the word “no.” They will catch on quickly and learn to prioritize their own needs.
- Compare prices at your local supermarkets. This Givat Shaul family switched from Osher Od to Rami Levy and save 30% off their weekly shopping bill. Here is the comparison: