You have finally made it financially. You landed a job with a six-figure salary – a financial dream come true! You probably feel like a millionaire, ready to buy a Land Rover with leather seats or bring your entire mishpacha to Eretz Yisrael for a well-deserved relaxing – and spiritual – vacation at the Waldorf Astoria, which is within walking distance of the Kotel. But looking at your achievement more realistically, you might ask yourself whether you will really be able to afford a Rolex watch or merely be able to pay for your children’s chasanas without going into debt? Let’s explore what a six-figure salary means for a frum family’s bottom line.

Did you beautify your Chanukah party this year with a garland of homemade paper dreidels and menorahs, or did you use an elaborate themed décor you saw described in one of the weekly magazines? Did you fry your own potato latkes served with a side of applesauce and splurge on the 79-cent jelly donuts from the local store? Or did you create a themed Chanukah dinner replete with Asian marinated fried chicken, maple bourbon chicken poppers, Yapchik latkes, and expensive Chanukah donuts that set you back about $10 per decadent treat?

Blew your budget? Outta cash? Depleted your checking account? Maxed out on your credit cards?

Chanukah is coming, and like most of our wonderful Jewish holidays, it takes money for all those gifts and Chanukah gelt that you are hoping to distribute. Or perhaps you have a more mundane financial obligation coming up and simply don’t have the money to fund it. Hopefully, this article will give you some recommendations to get money quickly. Remember, these are only suggestions, which may or may not work for your family situation. But even if only one or two of these tips work for you, it will translate into found money.

What would happen if the money in your bank account bought less this year than last? Would you change your spending habits? Would you spend more time thinking about how to get a better deal or look for sale prices on items that you frequently buy? Would you stop buying certain items or change your outlook on what is a “need” and what is a “want”?

The cost of everyday goods just keep going up. The average price of gas in Baltimore, at the time of writing this article, is $4.84 per gallon. Eggs have jumped in price from $1.67 per dozen in 2021 to about $2.74 in 2022. And a gallon of milk will set you back about $4.33. Overall, inflation in May hit 8.3%, but the year-over-year increase specifically for food items rose 9.4%. Chicken is up 16.4%. Eggs are up 22.6%. Margarine is up 23.5%. Why is this happening? Why would your money be worth less this year than last year? You would need to understand inflation in order to answer this question.

Ahhh, the scent of spring. The weather is getting warmer with plenty of sunshine while the flowers are blooming and the birds are chirping. Pesach is now just a sweet memory, right? Or are you faced with unaffordable credit card bills from all of your Pesach expenses? Did your never-ending expenses include meat, chicken, wine, shmurah matzah, disposable goods, snacks, extra cleaning help, clothing, shoes, and accessories? And don’t forget the afikomen presents and Chol Hamoed outings. Have you thought about how you will pay for the credit card bill that you’ve just recently received?

Is this a yearly occurrence, a continuous cycle you’ve grown accustomed to, where you overspend over a short period of time and then don’t have enough money to pay your bills? Is there a different way to cover your Pesach expenses or, for that matter, any predictable recurrent expense? A sinking fund may be the answer for you.

Sara Levin* is a spunky 8^th grader who attends the local Bais Yaakov. Her father is a lawyer and her mother is a professional organizer and party planner. Sara is the youngest child in a large family. It has always been the goal of Sara’s parents to raise fiscally responsible children, and for the most part, all six of Sara’s siblings are prudent with their money and make educated decisions about it. How did Sara’s parents accomplish this? Let’s use a small example to illustrate how Sara’s parents have helped her be fiscally responsible.