Goals:
To reduce poverty in the ultra-Orthodox sector by strengthening the economic resilience of families and enabling them to live on their income without the need to rely on charities, funds, and welfare benefits.
The Need:
Many ultra-Orthodox individuals marry young, without awareness of the costs of running a household, nor how to manage those costs. As a result, they quickly fall into poverty and debt with no way out and become dependent on public support through welfare departments and local charities. The purpose of this program is to provide young adults with guidance on how to properly manage their finances and live within their means.
This guidance is especially important in the ultra-Orthodox community, which chooses to live on just enough to meet their basic needs. Proper economic management is critical so that families understand how much they will need to earn in order to cover these needs, and not underestimate things and slip into debt.
Target Population:
Ultra-Orthodox young adults just before or after marriage.
Activities:
On the individual level, training and workshops deal with these topics: knowledge and tools for managing the home economy; smart consumerism; increasing income without taking loans; building a family budget based on income, savings, pensions, and effective banking; exercising caution around investments and learning to assess risk.
Part of this effort involves developing technology to enable the target audience to access workshops, seminars, and webinars online.
At the community level: increasing awareness of financial management and integrating it into institutions such as charities and loan funds, while gaining approval of these efforts from the rabbinic leadership.
