We didn't have to receive the news about the jump in the consumer price index in order to realize that we are deep in inflation and the cost of living that continues to tear our pockets and raise the level of anxiety.
So apart from complaining constantly, what can you really do to survive this difficult economic reality?
Just like in other aspects of our lives where we need professional help, also in the financial aspect there are coaches who can help any average family regulate their expenses and offer them much needed help, especially these days.
The Association of Consultants and Trainers for the Family Economy in Israel (AR), which provides a professional response to the growing need for financial advice for households and the financial dilemmas of families in the present and in the future, decided to give us some essential advice.
How do you deal with the cost of living?
Planning the present, building the future
Planning ahead for the near and far future is the only way to minimize large economic disparities, but for the majority of the population of the State of Israel it is only an aspiration.
Developing financial awareness and changing consumption habits in the middle of life is not an easy thing, but in today's reality it seems to be the only choice.
Financial intention as a way of life
The need for families and individuals from all sectors to make a financial change in their lives and control their financial conduct, while being helped by guidance, gave birth to a new profession called consulting and coaching for the family economy.
deal with the here and now
Since it is difficult to increase income immediately, the best way to produce the required change is by gaining control of expenses.
The best way to do this is by properly allocating resources, opening savings and defining the priorities of each family, according to the needs and requirements of the household members.
Even when a family is in the red in the bank account, it is possible and even desirable to save.
This can be done in two ways - saving for unexpected events (unforeseen events) such as an explosion of a pipe at home or immediate dental care, alongside saving for big expenses that are known in advance, such as Bar Mitzvah, Bat Mitzvah or studies.
generate priorities
Many families tend to make their financial choices according to what is acceptable in society.
This is where the importance of a professional and skilled consultant lies, who will know how to help the family define the three main questions for them, which are - what they must consume, what they should consume and what they want to consume.
Defining the questions will help to continue acting on them even at the end of the consultation.
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