I ordered some sandals on line In August and they have not arrived yet. Am I entitled to compensation? The month of November, usually a rather quiet month has become an extremely busy month due to crazy sale days like Black Friday and Cyber Monday. In fact, in just two days, Israelis purchased NIS 190 million worth of goods for the Chinese Bachelor Day, which was a 50% increase from last year. How can you ensure that you receive what you’ve bought? And how can you make sure that you actually receive what you ordered? This year, the Coronavirus crisis...
FREE WEBINAR ON TUESDAY 3RD NOVEMBER AT 8.30 PM Click here to register You should have saved your money for a rainy day. What is clear is that how people manage their money can tell you a lot about how safe and trusting they feel in the world and especially during a pandemic. It doesn’t matter how much you earn, but what you do with your money that really matters. When you decide how you wish to live your life, you are empowered. When you decide how you wish to spend your money, you are empowered. When you invest your...
Financial Guidelines for Every Family And Individual During The Second Coronavirus Lockdown. The corona is a phenomenon. The response to it depends on you! Beware in a short term crisis not to make a decision that will be a long term financial disaster. Guidelines Income: Treat the income you have today as a fact. Try not to compare your income to pre-corona. Appreciate what you have. Calculating your precise income will help you streamline the expenses on things that are not really important to you Remember: For every income level, there are effective tools and solutions to be able...
The 1st of September normally marks the beginning of the school year, where thousands of children will be returning back to school after the summer vacation. However, this year, due to the threat of COVID it is still unclear how lessons will be conducted and how many students will be in a classroom. Regardless of whether the children will physically be in a classroom or they will be studying remotely, school supplies still need to be purchased. Here are some of my financial tips on how to buy everything without breaking the bank. Ask the children to compile a list...
A QUICK QUIZ ABOUT LOANS 1. What is the prime rate today? a) 1.75% b) 2.00% c) 1.60% d) Don’t know 2. What is the maximum rate of interest that a bank can charge on a loan? a) On a regular loan 15% b) The bank charge any interest rate that they want c) The bank can charge up to 8% on a loan d) Don’t know 3. The bank earns the most on: a) From commission b) Commission and interest c) The banks do not make money on commission and interest since they are serving the public. d) Don’t know 4. Who pays the...
Question: I am a salaried employee and I have caught the virus – am I entitled to Bituach Leumi? Answer: No, you are not, but you are entitled to receive sick pay from your employer. Hopefully, you have enough sick days. Question: I have been told to go into (בידוד) isolation. Am I entitled to sick pay or Bituach Leumi? Answer: No you are not entitled to either. However, if you cannot work from home, you can ask your employer to deduct your sick days in order to receive a salary. Question: I receive a pension but I also work...
PM Benjamin Netanyahu and Finance Minister Israel Katz presented the “Economic Safety Net 2020-2021” program this month – an economic package that will provide certainty and financial security for a period of a year to employees, the self-employed people and businesses during the Corona period. The program is up to June 2021 – and includes providing unemployment benefits to employees, social assistance grants for the self-employed up to NIS 15,000 every two months, a business assistance grant, also for new businesses and more. For the self-employed grants will be paid as early as the 12th July. They are promising a grant...
With coronavirus disrupting our daily lives, many people are worried about the impact on their budgets. While uncertainty swirls around us, not having a financial plan in place can just add to your stress levels. Taking some practical steps to manage your money can give you a better handle on your finances right now. The goal of this article is to help you feel more confident about how you manage your money, which is more important now than ever. I hope that the tips will help you feel more in control while so many things in the world seem uncertain....
Following demonstrations and media coverage about the plight of business owners and the self employed, the Ministry of Finances has come up with new criteria for controlling shareholders who receive a salary and for the self employed. ELIGIBILITY CONDITIONS FOR THE SELF EMPLOYED The conditions of the second phase for the self-employed are the same as for the first phase with the following changes: ➢ Taxable income for tax year 2018 does not exceed NIS 1 million, compared with NIS 240,000 in the first phase. ➢ Minimum income from a business will be NIS 8,568 per year, compared with NIS...
In this article, I am going to address the small business grants that the government is offering. Following is the latest information regarding the NIS 6,000 grant. If you fall under these 5 categories, you are unfortunately currently not eligible: You were under 28 years of age in 2019 it has now been changed to the age of 20 You are a controlling shareholder in the business Your annual earnings in 2018 exceeded NIS 240,000 Your monthly earnings in 2018 were below NIS 2,000 You opened a business in 2019/2020; this means you will only be eligible to receive a...
