32% of Nobel Prize winners are Jewish, and 100 of the 400 wealthiest Americans are Jewish. Jews are widely represented in the Forbes ranking. Why is their financial success happening, informs Ukr.Media.
Costs
The secret to stability and financial well-being begins with careful control over your spending.
“He who does not keep records always thinks he has less than he actually has.”
Keep records of every expense, whether it's a big purchase or a small item.
Big goal
“To reach your goal, you need to walk, not sit and look at the stairs.”
Determine what is truly important to you and set financial goals for yourself.
“Without a goal, like without a star in the sky, it is not known where to sail.”
Saving money is pointless if you don't have a clear goal.
“A great goal is the light at the end of the tunnel that fills our path with meaning.”
Imagine a dream: a house by the sea, a trip around the world, or a charity project. This goal should spark your imagination and serve as a powerful motivator for saving and financial growth.
Debts
As you strive to create a secure financial future, avoid debt like the plague.
“Credit is the same boat that is easy to fill but difficult to empty.”
Live within your means and protect your freedom and nerves.
Wealth is not only about earning money, but also about managing it properly. Jews warn against unnecessary debt, emphasizing that stability and freedom lie in the ability to live within your means and spend wisely. Because you can't get rich on debt.
Invest in yourself
The best investment you can make is investing in yourself.
“Education is the only treasure that no one can steal.”
Education, professional development, acquiring new skills — all of this increases your value in the market.
Jews, placing great importance on education, always invest in themselves. Hence the high percentage of the most successful professionals. This emphasizes their desire for continuous development and improvement of professional skills.
“Education is the key to unlock any door in the world.”
By the way, there is Jewish wisdom about treating money lightly — not as a goal, but as a tool. If money is missing, stolen, or lost, wise Jews say:
“Thank you, Lord, for taking money.”
“If a problem can be solved with money, it's not a problem – it's an expense.”
Thrift
Little things become the basis of big changes.
“Don't collect money, collect moments of frugality.”
Avoid unnecessary expenses and be frugal in your daily life. A cent you save today can become a dollar in the future.
Connections
Jews are famous not only for their hard work, but also for their ability to find the best specialists in various fields. The ideal tutor or doctor is often in their circle of friends. Don't know where to find the right person? Ask a Jew. This approach allows them to maintain high quality services at reasonable costs.
“True wealth is not the possession of money, but the ability to manage it properly.”
Lack of fear of asking for advice
Jews are never shy about seeking advice. Rather than facing problems alone, they prefer to discuss the situation with those who can offer wise perspective and recommendations. This principle is also reflected in financial decisions, where consulting with experienced people can save a lot of money.
“Ask someone who has experience, not someone who has an opinion.”
Old woman's advice
And the most important advice, once given by a wise old Jewish woman who lived her life in abundance:
“Set aside some money from any earnings.”
Regardless of your income, set aside some money each month.
“Savings are your insurance policy for unforeseen events.”
Even a small percentage of your profits creates a significant reserve in the future.
Instead of spending money on expensive brand-name items, saving money allows you to invest in valuable experiences, travel, and education. These moments create a rich and fulfilling life that is much more important than owning an expensive brand.
Setting aside money or “paying yourself” for Jews is not an optional step, but an integral part of managing your money. It creates a financial reserve and a sense of peace and security. Jews strive to have a reserve fund in case of unexpected expenses or emergencies. This gives them a certain freedom and the opportunity to control their finances wisely.
