web analytics
November 28, 2014 / 6 Kislev, 5775
At a Glance
Blogs
Sponsored Post
IDC Herzliya Campus A Day on Campus

To mark IDC Herzliya’s 20th anniversary, we spent a day following Prof. Uriel Reichman, IDC’s founder and president, and Jonathan Davis, VP for External Relations, around its delightful campus.



The Two Most Common New Year Resolutions: Weight Loss & Fiscal Responsibility

In order to find the best financial “diet,” create an effective financial plan.
Goldstein 485x300

What do anorexia nervosa and financial planning have in common?

The answer is found in one of the most dangerous household items known to mankind – otherwise known as the bathroom scales. How many people, and especially teenage girls, have the compulsion to weigh themselves and then, panicking at the numbers that appear, decide to go on a drastic diet?Sometimes, of course, a person may be suffering from a real weight or health problem and they need to go on a diet. However, many times, these diets are unnecessary. Yet people are so obsessed by the ideal of “thin is beautiful” that they will put themselves through the most awful tortures to achieve it, sometimes to a life-threatening extent.

A few months ago, Israel led the world in the war on anorexia and other eating disorders by enacting a law banning models with a BMI of 18.5 or less from the fashion world. The idea is to stop young women from aspiring to be too thin and even endangering their lives in the pursuit of an unhealthy ideal. This idea has been widely applauded throughout the globe and not only in the fashion industry. It is hoped that more countries will jump on the bandwagon, encouraging people to be healthy rather than painfully skinny.

The healthiest diet is the balanced diet

There’s no need to either starve yourself or overindulge. The same idea applies to your financial plan. Sometimes, you might look at the figures (think bathroom scales!) and feel so overwhelmed that you think you need to slim down your expenses drastically. But is that really what you need to do? Conversely, just as you may suddenly get an urge to eat an entire chocolate cake, you may sometimes find yourself spending excessively without any restraint.

In the world of finance, neither approach is ideal. You’re earning money and investing it so that you can live a good life, both now and later on when you retire. If you “starve” yourself, depriving yourself of essentials that you need and are still able to afford, your quality of life will suffer. And if you spend with abandon, you will soon find yourself “overweight” with debt.

What is the best financial diet?

In order to find the best financial “diet,” create an effective financial plan. As they say, “information is power,” and just as you learned about nutrition to fuel your body properly, learn about budgeting and investing to fuel your finances.

Start by reading some informative personal finance articles.  Once you mastered the balance between “starving” and “overindulging” your finances, you can look forward to a healthier life and retirement.

About the Author: Douglas Goldstein, CFP®, is the director of Profile Investment Services, Ltd, a financial planning and investment services firm located in Jerusalem. He specializes in working with clients who live outside of the United States and want to maintain a U.S. brokerage account. Doug’s newest book, co-authored with Susan Polgar, about how using chess strategies to improve your finances, Rich As A King can be purchased at www.richasaking.com. He is a licensed financial professional both in the U.S. and Israel. Securities offered through Portfolio Resources Group, Inc., Member FINRA, SIPC, MSRB, FSI. Accounts held at Pershing LLC., Member NYSE/SIPC, a subsidiary of The Bank of New York Mellon Corporation. Neither Profile nor PRG gives tax or legal advice. Before immigrating to Israel, it is advisable to consult with a tax attorney who is knowledgeable about Israeli law. Contact at doug@profile-financial.com


If you don't see your comment after publishing it, refresh the page.

Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.

If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.

No Responses to “The Two Most Common New Year Resolutions: Weight Loss & Fiscal Responsibility”

Comments are closed.

SocialTwist Tell-a-Friend

Current Top Story
A would-be preacher delivers his message of hate from the Muslim"holy site" on the Temple Mount.
Al Aqsa Mosque ‘Stand-Up’ Preacher Calls for Annihilation of the United States
Latest Blogs Stories
Worshipers were cut down as they prayed

It’s clear that Obama equates Israelis and Arabs as equal sufferers of “violence.”

Ferguson, Missouri: rioting against racism, encouraging murder

The malicious manipulation of frustrated fury is surely as egregious as merely perceived racism.

About 7 in 10 Americans view Israel favorably – making Israel the only positively viewed Middle East country. But the younger Americans get, the more they like some Arab countries.

Undoubtedly, once he’s “former president Obama” he’ll join anti-Israel Jimmy Carter against Israel.

train track grafitti

The silly people on the left have created a new campaign to try and force the rest of the country to capitulate to their suicidal fantasies, this time by riding trains and imposing themselves onto other people’s conferences.

Find out how to set goals and take better care of your finances.

As events over the last couple of weeks amply demonstrate, the status quo isn’t working out either

Australian Ambassador to Israel ran to the hospital in J’m to visit the wounded and to donate blood

Those celebrating violence with “No Justice No Peace” signs are opposed to both justice and peace.

Pop quiz: The shortest book ever written? “Palestinian History and Positive Contributions” text book

We are the continuing generations from our Father Avraham who was given this Land by our L-rd.

When a country supports ($) the PA or Gaza or “recognizes,” “Palestine,” they promoting terrorism.

There is no question whatsoever that Odeh was behind the fatal bombing of a SuperSol market in 1969

As we Jews returned to the Holy Land and prayed at our holy sites, forces fighting holiness came too

Channel 10 TV published on Sunday a poll they commissioned asking Israeli Arabs a rather straightforward but important question:

Today”s discussion: “The effects of current geopolitical situation around the world on investing.”

According to PM Netanyahu, the bill would enshrine full equality under law to all Israeli citizens.

More Articles from Doug Goldstein, CFP®
Doug Goldstein

Find out how to set goals and take better care of your finances.

Doug Goldstein

Today”s discussion: “The effects of current geopolitical situation around the world on investing.”

Discover the world of NY high society and its intrigue.

Lear the the secrets of self-publishing your book from, expert Hank Quense

Why is good financial communication so important in marriage? And the dangers of credit cards.

How much control do banks and governments have over money and what should their function really be?

Doug addresses the question, ” When should one start claiming Social Security?”

When is it a good idea to accept a “draw” and when is it better not to do so?

Printed from: http://www.jewishpress.com/blogs/goldstein-on-gelt/the-two-most-common-new-year-resolutions-weight-loss-fiscal-responsibility/2013/01/10/

Scan this QR code to visit this page online: