Clever Finical Behavior in Israel
1. Do not buy things on the phone. Even if you believe you need what they are selling you, give yourself the opportunity to check what it Is about.
2. Keep a track of your payments including important details such as prices which are about to change in the future.
3. Compare prices. You can do it on all products in sites such as “zap” or compare prices of services on sites such as “Midrag”. You can also ask friends on Facebook and get advice.
4. Try to stick to as little a number of credit cards as possible. You can usually buy with one credit card what you can buy with ten cards. The main danger which the credit card companies enjoy is the lack of control- that is why you are offered all the time more and more credit cards.
5. Avoid payments whenever possible. Payments raise your monthly expenses in reality over a long period. They lead to loss of financial control and make it very difficult to live by a balanced monthly budget.
6. If you have spare money don’t let it sit in the bank. Investments usually start with a lower risk than just leaving your money in the bank.
7. Last tip- many immigrants feel that everyone is trying to trick them. However, I believe that in most situations, there is no need for this such a feeling. All you need to know are the rules of the game. As soon as you do that, you will confident about yourself and what you are doing- and naturally you will see that people around you are behaving in a more natural and fair way. From our experience in Segal Insurance we learnt only to buy a product where there is a clear follow up service and secondly keep strict control and details of all financial transactions