Author Topic: Whats the best way to send money to a bochur learning in Israel.  (Read 3445 times)

Offline Menach

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I prefer not give to much cash up front when he goes for obvious reasons.

Offline AsherO

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Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #1 on: August 13, 2012, 11:42:14 AM »
I prefer not give to much cash up front when he goes for obvious reasons.

A credit card and/or ATM card with spending limits. Or, give the money to someone on the Yeshiva staff to dispense to him on a monthly basis (and probably some extra in case of emergencies).
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Offline Moishel

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Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #2 on: August 13, 2012, 01:02:26 PM »
My parents used to give me an ATM debit card, and I used to take out money every few weeks and I took out the money in Bank Hapoalim on Kikar Hashabat without a withdrawal fee.

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Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #3 on: August 13, 2012, 01:05:31 PM »
Add him as AU on any card with no forex fees. Or depending on his age have him open his own cc.
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Offline Jkhein

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Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #4 on: August 13, 2012, 01:22:50 PM »
It might not be such a good idea to train a bochur into using credit cards.
Let him open a TD bank account with a debit card, and deposit money in his account monthly.

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Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #5 on: August 13, 2012, 01:26:11 PM »
It might not be such a good idea to train a bochur into using credit cards.
Let him open a TD bank account with a debit card, and deposit money in his account monthly.
Or it is a good idea. I've been trained since 8th grade :) And I'd say I'm pretty good in spending... Depends on the kid/parents-responsibility/trust.
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Offline Dan

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Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #6 on: August 13, 2012, 01:28:46 PM »
It might not be such a good idea to train a bochur into using credit cards.
Why not?
Great time to start learning about budgeting and the value of money.
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Offline Jkhein

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Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #7 on: August 13, 2012, 01:33:33 PM »
Why not?
Great time to start learning about budgeting and the value of money.
training with cash will do a much better job.

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Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #8 on: August 13, 2012, 01:51:19 PM »
training with cash will do a much better job.
How do you figure? If you have a theoretical unlimited amount to spend on a cc and you only spend say $100 over a month vs you have $100 and you only spend $100 over a month. You think the latter one teaches fiscal responsibility better?
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Offline sky121

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Re: Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #9 on: August 13, 2012, 01:52:04 PM »
training with cash will do a much better job.

+1
Unless you give them a strict limit and knas them if they go over. Cash really teaches you to budget at that young of an age. You SEE the money disappearing. And when its gone, that's it!


You have to know your kid obviously.

But I would agree Cash is smarter to teach a kid.
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Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #10 on: August 13, 2012, 01:58:40 PM »
+1
Unless you give them a strict limit and knas them if they go over. Cash really teaches you to budget at that young of an age. You SEE the money disappearing. And when its gone, that's it!


You have to know your kid obviously.

But I would agree Cash is smarter to teach a kid.
Smarter is very different than better. It may be smarter because they can't screw up, but if they spend the same amount that you allot them on a cc as they would cash, then it seems that'd be a better lesson on how to spend responsibly. Especially if you have them paying the bill from their bank account even if you load it. That's another idea why not give them the option. You put $100 in their bank account and they must use that to pay their CC. This is assuming they have internet or a phone...
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Offline sky121

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Re: Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #11 on: August 13, 2012, 02:03:26 PM »
Smarter is very different than better. It may be smarter because they can't screw up, but if they spend the same amount that you allot them on a cc as they would cash, then it seems that'd be a better lesson on how to spend responsibly. Especially if you have them paying the bill from their bank account even if you load it. That's another idea why not give them the option. You put $100 in their bank account and they must use that to pay their CC. This is assuming they have internet or a phone...


That would really be a great option. Having them have a CC and have them have to pay the bill at the end of each month.
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Offline Dan

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Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #12 on: August 13, 2012, 02:08:16 PM »

That would really be a great option. Having them have a CC and have them have to pay the bill at the end of each month.

And it teaches them more about real-life budgeting.
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Offline Jkhein

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Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #13 on: August 13, 2012, 02:15:40 PM »
Especially if you have them paying the bill from their bank account even if you load it. That's another idea why not give them the option. You put $100 in their bank account and they must use that to pay their CC. This is assuming they have internet or a phone...
Sounds "smarter" now! This was not an option mentioned earlier.

Offline creditor

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Re: Re: Whats the best way to send money to a bochur learning in Israel.
« Reply #14 on: August 13, 2012, 02:39:10 PM »
Sounds "smarter" now! This was not an option mentioned earlier.
ach, still not smart.
having an atm/debit card with a limit is way better/smarter then a cc that has no limit.
you know its different when you can't use your card vs using it and good dad is gonna have no or little choice but to pay it up later-on
seems like you guys either warnt buchurim for a while or wer very "smart" on budgeting.
I'm just say'inę«