Articles & Tools

A. B. of Paamonim

The second of the basic principles of wise housekeeping


The first step to balanced economic conduct is taking responsibility. Treat all financial conduct within the family framework as a small business for all intents and purposes. Manage expenses and income by comparing prices, bargaining and recording every expense – small (coffee on the way to the office) and large (rent/mortgage).

Making the decision to make a change


A financial institution whose main business is handling and brokering money: receiving financial deposits within the framework of check accounts, saving or investing, and providing loans. Know the status of your account, only in this way can you plan your conduct according to the money you have.

Bank Account Management Guide


Overdraft, debt. A debt is a sum of money that must be paid to another. Debt is created in various ways, including obtaining a loan, purchasing on credit, or unpaid money for providing a service. Separate between regulated debts – for which a monthly arrangement has been set (amount due and termination date) – and unregulated debts – for which no payment date has been set.

Test yourself: do you have any minuses?

Credit rating

A score given to individuals, companies or countries, which defines their ability to repay loans. The calculation is based on the financial history, the state of assets and equity, and the volume of liabilities that the assessed entity has. The rating is used by investors for the purpose of assessing the risks relating to the solvency of the borrowing entity. As in football, credit scores should always be at the top of the table.


A transaction in which one entity lends a sum of money to another entity, for a limited period of time, according to predetermined conditions. When you are about to spend an expense that is not covered in your bank account, and turn to taking out a loan, the result is entering debts that cost us more (interest, principal) and dealing with difficulty in repaying them over time. Before taking out a loan, check if you can meet the repayment, prefer to save for the purchase or use existing savings.

Do you really need a loan?


Many citizens face economic difficulties resulting from low income, going into debt and loans, illness, retirement, divorce or dismissal. The State of Israel and the authorities provide citizens with a wide range of rights that can assist in obtaining money and information. Find out the rights you deserve and you can save a lot of money.

To locate any right


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.

5 rules of thumb on saving

Handling paperwork

Piles of paperwork arrive every month in our mailbox and email – from the bank, insurance companies, municipal taxes, gas, water and electricity, cellphones, and more. It is important to open them, read them and keep them in an orderly manner so that they can be retrieved in the future. Treat the archive as an important center of information regarding the family’s conduct. File by subject, and remember that the statute of limitations establishes a period of 7 years during which a citizen can claim financial rights or debt repayments.

This paperwork arrangement doesn’t look like it sounds


The teller at the bank tells us: Linked to the prime, PREM, P.M., F.C.M., 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 account overdraft (minus). Knowledge of banking services will help intelligent management of the bank account.

Paamonim glossary

Monthly repayment capacity

The amount of money available each month for debt repayment. The calculation of monthly repayment capacity is done by subtracting the total expenses in an average month, from the total income in an average month. If the revenue exceeds the expenses, this is a positive balance that you can use to settle debts. Restorative fitness is similar to physical fitness: you should at least maintain it and always strive to improve it.

Thinking about taking out a loan? Check your monthly repayment capacity

Eat out

Families who eat out regularly spend an average of NIS 10,0000 a year on lunch. Try to avoid spontaneous spending on food. From time to time, coffee and pastry are fine as long as you are aware of the expense and take it into account in the expenses section.

Survey: How many cups of coffee a week do you drink outside?

Work Grant

(Negative income tax) is additional income paid by the Tax Authority to the bank accounts of low-income earners (who meet the criteria set by law). In order to improve the economic situation of those who earn little. Hundreds of thousands of workers in Israel, salaried employees and self-employed, exercise their eligibility to receive a work grant and enjoy a grant of up to thousands of shekels a year.

To apply for a work grant


A creditor is someone to whom money or property is owed. The creditor has several ways to repay the debt to him: from opening a file at the Execution Office to a bankruptcy notice. As part of the bankruptcy proceedings, the conduct in terms of debts will be done as a whole, while balancing the interests of the various creditors due. For an arrangement with the debtor (which will be approved in court) and will help end the debt saga. The rationale behind the bankruptcy is that the creditors wish to repay the debtor and are not interested in revenge or abuse of him.

Looking for an attorney in bankruptcy and execution matters?


How much money are you each month because you haven’t updated your communication plans, canceled your credit cards and loyalty programs, or checked how many duplicate insurances you have? The answer is a lot of money. Turning to companies takes time and energy, and is especially exhausting. But – think about how much you would be willing to invest for thousands of shekels?

The Guide to Saving on Communication Expenses

Independent business

Does one member of the household have an independent business? The financial conduct of a small business and a household is very different. Household expenses and income are fixed and relatively known, in business it is much more difficult to control them. Separating the accounts prevents trouble. A business that separates the household bill and acts honestly and honestly about associating expenses with them, does the right thing to maintain both the business and the family’s finances and integrity.

Course: Independent Business and Household Economics


A word paid in monthly installments for a specified period of time, to salaried employees, in respect of the period of their employment with the employer. The pension is paid in a monthly payment, proper conduct at this early stage will ensure us financial security in our retirement years.

Your Pension Starts Today – The Complete Guide to Retirement


Be savvy consumers. Don’t accept as a divine decree the amount of fees, interest and deposits in the bank, the price the cable provider demands, the amount of fees. Bargain. See the fine print. Check how long the sale is, ask if the price includes assembly or transportation, check if the coupon gives a discount on weekends as well. Find out what the cancellation conditions are before you rush to pick up the child from the class and sign without seeing what. Go shopping with a ready-made list, check the cost of the weekly basket at several supermarkets in your area, don’t go out of habit to the expensive neighborhood supermarket. Compare the meter reading on your electricity/water/Zag bill to the number on your meter. That way you won’t lose a lot of money.

5 rules of thumb about wise consumerism

Buy in installments

A transaction in which the purchase amount is paid in several parts, (by credit card or checks). Distinguish between interest-free transactions, “credit transactions” in which the purchase amount can be spread out into payments for payment of interest on the principal, without paying interest. Buying in installments regularly is not recommended: Payments are difficult to track. If you can’t pay for a product or service, you may have to give up buying.

How to handle a credit card correctly

Prime Interest

In the name reminiscent of a meat restaurant, this is not culinary. It’s about finance. The prime interest rate was set at all banks as an addition of 1.5 percent above the Bank of Israel interest rate. The prime interest rate serves as a basis for comparison in determining the interest rate of loans in the entire financial sector, and a wide range of financial instruments are linked to it Most existing loans are on a prime basis, the prime interest rate changes so that if it increases in the future, the existing monthly repayment on the loan is expected to increase significantly.

Grey market

A nickname for a financing system that operates outside the established system and in violation of the law. The term “gray” refers to loans taken out by customers who refuse to receive financing from the established financial system because they are considered customers who will not repay their debt. The interest rate actually charged to borrowers in the gray market is very high. The main problem lies in the means of collection, do not be tempted by gray loans so that the future will not be black.

What is so gray in the gray market


A tool used to determine the household’s economic goals (expenses versus income) on a monthly average. Building the budget is done in several stages: setting priorities, building an initial budget, checking and controlling, amending and improving the budget. Make a budget for all your expenses: from shopping for school supplies and shopping at the supermarket to going up to the nearest bar mitzvah.

How to build a budget

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