The Social Ventures Forum

Irit and Marina - Our Monthly Expenses:  

Final cost	Possible savings	Initial cost	Expenses
₪ 1,200	₪ 0	₪ 1,200	Rent
₪ 834	₪ 150	₪ 984	Car payments
₪ 560	₪ 40	₪ 600	Food
₪ 280	₪ 0	₪ 280	Utilities and tax (elc,gas, water, house committee)
₪ 140	₪ 240	₪ 380	Communication(cable, internet, cell)
₪ 400	₪ 100	₪ 500	Recreation
₪ 1,000	₪ 0	₪ 1,000	Tuition
₪ 250	₪ 0	₪ 250	Clothing
₪ 100	₪ 0	₪ 100	Gifts
₪ 4,764	₪ 530	₪ 5,294	Sum

 

We managed to save 530 NIS per month which in 20 years from now will sum up to 127200 NIS!

Car payments – most of the time when we drive to work, school and around we can use our car or the car of others to do car pools. You can look up on Facebook for  a specific page created for Technion students to search for students who offer a ride or looking for a ride: https://www.facebook.com/groups/135704829788347/?ref=ts&fref=ts

If you split your gas costs with another person for at least 0.25% of your rides you can save up to 150 NIS monthly.

Food –  We discovered a couple of websites that offer you a service where you can compare your shopping cart between the different chains of supermarkets, and then the site completes the order for you in the cheapest store online. By comparing our shopping cart we managed to save 40 NIS. The site also offers you the latest discounts and special sales in the stores:

http://www.mysupermarket.co.il

http://hasuper.co.il/

Communication –

Cables - at the moment we pay 140 NIS a month for a cable company (280 split by half as we don’t live alone). We don’t recommend this advise officially but you should know that you can pretty much get everything for free online all you need to do is connect your computer to the TV screen.  

Cell phone – by switching a phone company to Golan Telecom for example, we can save up to 100 NIS per month.

Recreation – we decided that it’s a good idea to limit yourself to 10% of your monthly income.

General tips

1.  Replace incandescent light bulbs to Compact fluorescent light bulbs. They  are more expensive but they consume a fifth of the electricity and long life span 10 times compared to standard incandescent bulbs.

2. To save money on gifts and clothes it is highly recommended to look for sites like eBay or Amazon. For clothing we recommend a website where you can save up to 50% : http://www.asos.com 

3.If you have an overdraft (your bank account has a negative balance) you should know that you can get a student loan with a very low interest, which can be as low as 0.25% (or even lower) from the interest you currently pay on your overdraft.

 

Irit Rozinsky and Marina Sigal