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Kosher Money

Young Hasidic Couple Learns How to Money the Hard Way

Kosher Money

Living Lchaim

Frum, Eli Langer, Management, Jew, Judaism, Religion & Spirituality, Business, Finances, Orthodox, Jewish, Careers

5781 Ratings

🗓️ 22 November 2022

⏱️ 57 minutes

🧾️ Download transcript

Summary

This Kosher Money episode is entirely unique to our series of recordings as we have an anonymous ultra Orthodox Jewish couple in-studio to discuss the financial friction they experience at the start of their marriage and how they were able to overcome it.


Their names have been changed to protect their identity, as well as faces blurred. We would like to commend this courageous couple for sharing their story with the world in hopes it helps. (We're sure it will.)


If you have a story to share or a guest suggestion, please fill out this form: https://www.livinglchaim.com/suggest


✬ SPONSORS OF THIS EPISODE ✬


► Approved Funding: Looking to purchase a home? Looking to refinance? Looking to speak to a mortgage professional? Speak to Shmuel Shayowitz at https://approvedfunding.com/Mortgages/


► Colel Chabad: Please help Israel's neediest people! They need you! Visit https://www.ColelChabad.org/KosherMoney to make a much-needed donation!


Oh, here is Dave Ramsey's Budgeting App named EveryDollar: https://www.ramseysolutions.com/ramseyplus/everydollar


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Transcript

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0:00.0

Because growing up, I remember, I remember some people used to use their debit card, and my parents

0:04.5

always always, you know, the debit card is only made to take out money for the ATM machine.

0:07.2

It's like ATM card.

0:08.1

It's not, it's not something you use.

0:10.0

And, you know, credit card, you get points.

0:11.9

It's so much, so much better.

0:13.4

So I started opening credit cards because I thought, that's the way to live. And not only that, I remember later on in marriage, I got my car lease.

0:23.2

I got, you know, I had some different debts that I had.

0:25.8

I remember sitting at the dining pay a woman at my wife sitting on the couch.

0:29.3

Wow, I just paid five bills.

0:30.7

I was like, okay, I guess that's life.

0:32.1

Life was bills.

0:33.1

And that's the only way to do it is to just pay a lot of bills.

0:37.7

And, of course, that's the only way to do it is to just pay a lot of bills. And because that's the way I grew up.

0:39.2

And I saw my parents, you know, all the different credit cards and were a lot of bills going on.

0:42.9

So that's where I felt that, you know, that's just the way of life.

0:47.0

How many credit cards did you open after we got married?

0:50.8

So I actually opened one, right one we got married. We opened one and then we opened

0:56.0

another one. And then we opened a third long run in there. I opened a business account. So I got a third

1:01.6

and everything. And the points that that was the motivating. That was a motivation factor. Right.

1:07.4

We have never done an episode like this. We sat down with a Hasidish couple, ultra-Orthodox couple to talk about their finances. This couple came on anonymously. We changed their names to protect their identity. And they shared personal thoughts and feelings about how they view money, the frictions they experienced when they got married as it

1:30.5

relates to money. It's a fascinating episode. Buckle in. Enjoy. Being a Jew, awesome. Managing personal

...

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