What Do We Do?
The Economic Recovery Program
Through this program, individual financial plans are created in order to help families in economic distress get back on their feet financially and prevent them from entering financial trouble again in the future. Each family is assigned a volunteer from Paamonim who assists the family in forming an individual financial plan and accompanies the family throughout the entire process until economic stability is achieved. These financial tutors provide each family with individualized assessment and support for an average of 1 year and continue to accompany the families until they reach financial stability.
The Economic Recovery Plan Process includes the following steps:
1. Assessment of each family's financial situation through careful evaluation of their expenses and income.
2. Creating a balance between expenses and income through an integrative financial plan that focuses on the reduction of expenses and the increase of income.
3. Maintaining a financial balance for a number of months.
4. Resolution of past debts through payment plans and long term loans.
5. Special grants for families who need them in order to complete the rehabilitation process, and whose ability to repay these loans is carefully assessed.
Together with its tutor, the household learns how to develop and adjust to a sensible budget that allows for debt and loan repayment, and financial recovery.
A volunteer guide/tutor is assigned to each family that Paamonim helps. Together with their personal volunteer tutor, the families decide which expenses can be minimized or eliminated, discuss how their incomes can be increased, and plan individual financial programs for the upcoming period and for the future in general.
The tutor also assists the family in dealing with banks, law suits, creditors etc. The tutor accompanies the family until it becomes financially stable and continues to be available if/when any problems arise, in order to ensure the family’s long-term economic stability.
All information regarding meetings with the family and the family’s progress is documented on a unique computerized database that was developed for the organization. Paamonim’s professional staff analyzes this information in order to improve its operations on an ongoing basis. All information is kept strictly confidential.
PTP : Preventive Educational Services
PTP (PAHAMON), established in 2007, is a highly successful Paamonim project,.
Paamonim was frequently approached by various institutions such as businesses, government offices, non-profit sector organizations, educational institutions and the IDF who were interested in providing the motivation and tools to change financial behavior long-term. They sought preventive education to train their personnel, employees, clientele and others as to healthy management of household finances. They realized the vast benefits to be reaped by their institutions, by the individuals they wished to help and by society as a whole, as a result of this instruction.
Paamonim aspires to instruct as many households as possible, so as to help them achieve independent and healthy management of their finances.
Consequently, Paamonim now presents seminars, workshops and lectures for the general public about the management of household finances so as to prevent them from requiring Paamonim’s acute services.
Many partnerships have been formed to provide this education, - the IDF, frameworks for young people, regional councils, businesses, etc.
During 2012, 250 preventive lectures took place, compared with 201 in 2011 – an increase of 20%. 101 preventive workshops (consisting of four sessions each) were held, compared with 46 in 2011 – an increase of 120%. 10,000 people participated in PTP activities in 2012.
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