Beta VersionBeta Version
מחשבון עם מטבעות

Financial Planning in a New Reality

A new economic reality: There are benefits and services that were not available before, but the financial responsibility falls on fewer people

Loss changes everything - including the family's financial situation. Suddenly, there is a new financial reality: with benefits and services that were not available before, but also financial responsibilities that fall on fewer people. These changes can be stressful and may even feel overwhelming during an already complex and sensitive time.

Financial planning for peace of mind

When you have a clear financial plan, there is less fear of the future. The worry of "what if..." turns into confidence when there is a response for every situation. This doesn't mean everything is predictable, but it does mean there is a stable foundation to build upon.

Proper financial planning also helps restore a sense of control - instead of feeling that circumstances dictate everything, you can make informed decisions and influence your family's financial future.

Why is financial planning so significant for bereaved families?

We realize that thinking about money and the financial future might not feel like a priority right now. This is completely understandable. However, financial planning can have several significant benefits for your family:

  • Peace of mind: Knowing there is a clear plan can reduce anxiety about the future. It allows you to focus on other important matters.

  • Control and confidence: Financial planning can strengthen your sense of control over your financial situation, even when life itself feels out of control.

  • Informed decisions: With a clear plan, it is easier to make the right financial decisions in real-time.

  • A more secure future: Proper planning ensures that the family will be prepared even for unexpected situations.

5 key areas for financial planning

Financial planning is divided into five main areas. Each area helps create a more stable financial reality:

  1. Budget management in the new reality: Understanding new income and expenses, and building a budget that fits the current situation. You can read more in the article: Managing a New Budget for Family Stability.

  2. Informed housing decisions: Choosing whether to stay in the current place or move to another residence, based on both financial and emotional considerations. You can read more in the article: Housing Decisions for Bereaved Families.

  3. Financial education for children: Preparing children for an independent financial future and having an open conversation about the new benefits they are entitled to. You can read more in the article: How to Raise Children With Financial Confidence?

  4. New financial goals: Adjusting the family's dreams and plans to the new reality, and setting realistic financial objectives. You can read more in the article: New Financial Goals in a Changing Reality.

  5. Building future security: Savings, pensions, and investments that will ensure long-term financial stability for the family. You can read more in the article: Financial Security for the Future - Pensions and Savings.

Concerns versus reality

If you have concerns when thinking about financial planning, that's completely natural - especially during such a time. Let's address some of the most common concerns versus the actual reality:

  • "Now is not the time" - Reality: Actually, this is exactly the right time. When life changes, it's the perfect moment to ensure that the financial situation aligns with the new reality. There's no need to make big decisions immediately - you can start by understanding the current situation.

  • "We don't have enough money to plan" - Reality: Planning is not just for people with a lot of money. It's mainly about managing what you have wisely and ensuring that every resource is used in the best possible way.

  • "It's too complicated" - Reality: Financial planning starts with simple steps - understanding the current situation and setting an initial goal. From there, you can gradually move forward, step by step.

  • "The benefits cover everything" - Reality: State benefits are an important foundation, but personal planning can complete the picture and ensure a better quality of life for you.

So, where to begin?

You can begin by asking yourself one simple question: What financial issue is the most critical right now?

Start with the area that is most urgent or most relevant to you. There's no need to address everything at once.

Professional assistance available

You are not alone on this journey - the Department of Families, Commemoration and Heritage is available to assist you with any financial matter:

  • Personal financial guidance: Every bereaved family is entitled to receive personalized financial support and information.

  • Explanation of rights: Your welfare workers can explain all the rights and financial options available to you.

  • Advice on decision-making: You can receive guidance on topics such as budgeting, housing, and investments.

  • External financial advisors: If needed, you can also consult professional advisors who specialize in working with bereaved families.

For details and to schedule a meeting, contact the welfare worker who accompanies you.

Start with small steps

Financial planning is not just about money – it also focuses on creating security and stability. It doesn't have to be perfect from the start, and you can progress at your own pace. Every small step in the right direction is an achievement. The goal is to feel more at ease and secure about your financial future, so you can have more energy to focus on what truly matters and enjoy peace of mind.