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Money Wise

“Earning a good income is just the first step in financial freedom. If you don’t know how to manage that money, you can’t enjoy it.” That’s the core principle behind Imahot Ma’ashrot, one of Temech’s new programs.

Nechama Perl, a financial coach, and a marital counselor, leads the group. She had her own journey to reach this point.

“For years, I worked in a bank, starting as a teller and working my way up. It was a good job, and I was doing well. But my family was growing and became was too much.”

Nechama stayed home for several years, but then the family needed more income. Going back to the bank didn’t feel right.

“I wanted to expand my horizons, and went to Open University. I learned couples counseling and financial advising, and took a course on managing a business.”

She saw Temech were looking for leaders for their networking group and applied. She led several groups, and also spent two years as a participant in a group as she grew her own business.

“The Temech groups taught me how to brainstorm, truly listen to others, get feedback, and create collaborations. 

“I see business owners who are missing these soft skills. They can have some success, but to become a star, you need to know how to work well with all the people in your orbit.

 “Additionally, the balance between progressing in the business world while never diluting your values is one of Temech’s unique strengths.”

Temech showed Nechama the power of groups. As she worked with women on their finances, she dreamed of creating a group enabling women to manage their finances more healthfully and to make positive changes from an internal place.

Imahot Mashrot was born.

“This isn’t about getting a list of budgeting tips. The women are different ages and income brackets. One may overspend and another may have difficulty spending. What unites them is a desire to revamp their relationship with money.”

What does a group look like?

During the first hour, the women do an exercise and then discuss it. After a short break, Nechama gives a brief lecture.

At a recent workshop, Nechama asked each to draw how she feels when told: “Create a budget for your family.” They were encouraged to ask each other about the pictures they’d drawn, and to share whatever had emerged in the process.

Then, the women drew whatever change they wanted. Lastly, Nechama shared practical ideas about creating a budget she’d picked up from years in the field.

“The focus is on attitude and mindset. One woman shared that she spent an enormous amount on the family’s summer getaway every year. After the course, she spent far less without consciously choosing to do so. When people are empowered to approach finances in fresh ways, to question assumptions and see their options, change follows.”

The group support is invaluable. 

“Seeing how others are dealing with their finances gives people fresh perspectives. One woman’s income increased considerably because she saw another woman in the same field who was earning a lot more. Noting the differences pushed her to tweak her business model and ramp up her earnings.

“There’s a lot of confusion around money, so many questions, particularly regarding the interplay of bitachon and hishtadlus. Sitting with other women who are also grappling normalizes the struggles, helping them realize that this isn’t a crisis, it’s life.

Temech has always helped women earn more. Now, it’s also helping those women manage that income wisely and happily.

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