Author Topic: Adding Financial Literacy Courses In Yeshivas  (Read 77848 times)

Offline mmgfarb

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Re: Adding Financial Literacy Courses In Yeshivas
« Reply #260 on: March 14, 2019, 01:30:32 PM »
Probably more often than not, "easy money" will cause people to leave learning to dig themselves out of the hole they dug themselves into.
Could be but it's a hard line to say what people should do and what they shouldn't, it's not as simple as saying "don't do anything that I deem hashkafically wrong"
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Offline Denverite

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Re: Adding Financial Literacy Courses In Yeshivas
« Reply #261 on: March 14, 2019, 02:18:53 PM »
Could be but it's a hard line to say what people should do and what they shouldn't, it's not as simple as saying "don't do anything that I deem hashkafically wrong"

I meant halachically, although if it was illegal than I guess that would be a halachic problem as well. My point was that it's easy to say you wouldn't do anything that's "easy money" but it's hard to tell people not to do something that isn't necessarily problematic halachically just because you think it's wrong on a "hashkafic" level because you think a person should work for his money, especially if it allows someone to stay in learning for longer.

I totally get what you are saying but I don't think it's just hashkafa.  They were deceiving the credit card companies (again, I know we can go all around all day that they didn't understand the card T&C's) but I think it does go back to what someone said on the PSA thread about more of a willful denial and choosing not to look closely because they so badly wanted the money.  How about saying, just like we teach to not only be honest but to stay far away from sheker that we could teach in schools specifically what that means with in regards to financial dealings.

Also, I have asked in multiple threads and not one person posted the actual Psak they got from a rav saying this was ok.  I'd actually love to understand how this swiping could be halachically ok. It seems most people just didn't ask, hoped it was ok and chose to ignore any little nagging worries they had about any downsides; financial, halachic or otherwise.

Offline Zevi16

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Re: Adding Financial Literacy Courses In Yeshivas
« Reply #262 on: March 05, 2023, 01:03:31 AM »
I think this needs a bump. [mention]S209 [/mention]

Offline Euclid

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Re: Adding Financial Literacy Courses In Yeshivas
« Reply #263 on: March 05, 2023, 01:46:03 AM »
I think this needs a bump. [mention]S209 [/mention]
What happened now?

Offline S209

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Re: Adding Financial Literacy Courses In Yeshivas
« Reply #264 on: March 05, 2023, 07:16:32 AM »
I think this needs a bump. [mention]S209 [/mention]
Anything specific or just in general?
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Offline Zevi16

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Re: Adding Financial Literacy Courses In Yeshivas
« Reply #265 on: March 05, 2023, 07:47:57 PM »
In general. Unfortunately I知 hearing about lots of people that can not make ends meet and are heading towards Cc debt as a way.
People need to understand the dangers of it and it痴 a hole that is very hard to get out of.
Additionally people need to learn to spend within their means. I知 not discussing lavish events/lifestyle. I知 talking about people that do that when they can not afford it.

Offline S209

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Re: Adding Financial Literacy Courses In Yeshivas
« Reply #266 on: March 05, 2023, 10:00:48 PM »
In general. Unfortunately I知 hearing about lots of people that can not make ends meet and are heading towards Cc debt as a way.
People need to understand the dangers of it and it痴 a hole that is very hard to get out of.
Additionally people need to learn to spend within their means. I知 not discussing lavish events/lifestyle. I知 talking about people that do that when they can not afford it.
I agree. I知 thankful to DDF for a decent part of my financial literacy.
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Offline drosenberg88429

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Re: Adding Financial Literacy Courses In Yeshivas
« Reply #267 on: March 05, 2023, 10:56:39 PM »
Rav Shayale's Kitchen has a financial guidance and coaching program that I've heard good things about. That being said, financial prudence and fiscal responsibility is like a diet or therapy - it's only useful if the person is committed and interested. All the theoretical knowledge in the world doesn't help if you aren't ready to buckle down. Yes, you'll know how to write a check, but if you're still in the stage of life that you're throwing money around and so far it's been working out and you made bank on your BTC trading while all your fiscally cautious friends made 2% on their T notes, a financial literacy course isn't going to convince you to implement lifestyle changes. Unfortunately, if it's not a culture one grew up with, it may take hitting a rough patch to be sufficiently motivational to get educated and make tough long term choices to get onto a slow, dreary, but sustainable path, with siyata dishmaya. I think that with rising interest rates, business opportunity pulling back, COVID funding disappearing, and rising living expenses, many people that have been living on the earn and burn merry go round may be hitting that patch for the first time.

Offline lover of truth

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Re: Adding Financial Literacy Courses In Yeshivas
« Reply #268 on: March 06, 2023, 06:46:31 AM »
In general. Unfortunately I知 hearing about lots of people that can not make ends meet and are heading towards Cc debt as a way.
People need to understand the dangers of it and it痴 a hole that is very hard to get out of.
Additionally people need to learn to spend within their means. I知 not discussing lavish events/lifestyle. I知 talking about people that do that when they can not afford it.
Lets be honest NOBODY can afford it.
Going to israel for succos, chanukah to conneticut, yeshiva week miami, pesach etc.
Anyone less than Trump is to be assumed that he is recklessly swiping cc

Offline JMHO

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Re: Adding Financial Literacy Courses In Yeshivas
« Reply #269 on: March 06, 2023, 07:57:05 AM »
Lets be honest NOBODY can afford it.
Going to israel for succos, chanukah to conneticut, yeshiva week miami, pesach etc.
Anyone less than Trump is to be assumed that he is recklessly swiping cc
Really? Sure there is plenty of finance ignorance and overspending in our community, but there is a LOT of money out there my friend...

Offline moko

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Re: Adding Financial Literacy Courses In Yeshivas
« Reply #270 on: March 06, 2023, 08:46:39 AM »
In general. Unfortunately I知 hearing about lots of people that can not make ends meet and are heading towards Cc debt as a way.
People need to understand the dangers of it and it痴 a hole that is very hard to get out of.
Additionally people need to learn to spend within their means. I知 not discussing lavish events/lifestyle. I知 talking about people that do that when they can not afford it.
what????? A kollel family is allowed to drive a car more than 3 years old?????

Offline drosenberg88429

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Re: Adding Financial Literacy Courses In Yeshivas
« Reply #271 on: March 06, 2023, 09:28:17 AM »
Lets be honest NOBODY can afford it.
Going to israel for succos, chanukah to conneticut, yeshiva week miami, pesach etc.
Anyone less than Trump is to be assumed that he is recklessly swiping cc

I think that there are a disproportionate amount of fairly wealthy people in our community, both in terms of net worth and in terms of annual income. In the latter category, particularly amongst the young money, many are not so loathe to spend on experiences and convenience. We have a general issue that our communities have people spanning a wide spectrum of financial means, and our lifestyles do overlap in the majority of areas, which creates an undue degree of social peer pressure in the last few areas which should really only be normal for the ultra wealthy. (In secular communities, that are largely defined by socioeconomic status, this may not be as clearly apparent. Our neighborhoods, schools, and shuls, all primary social determinants, are determined by religious breakdown much more than financial.)