October 16, 2018

Jewish Voices Helping Communities Crushed by Financial Burdens

Many people in the Jewish community understand the importance financial health, and many are aware of this country’s current crisis. It is not hard to see that there is massive income inequality, which is only exasperated by the debt crisis that many communities are dealing with.

One of the communities that are feeling the weight of these problems is the Jewish community. This is forcing many leaders and voices within the community to speak up about several topics and offer solutions to individuals and the country’s leaders.

In fact, the Reform Jewish Movement just urged the United States to reject the new tax bill.

The leaders of this organization think that the bill is misguided and will only help the rich while leaving the poor with less. Members of this organization follow ancient religious laws and understand that it is the duty of all people to help the poor, but this bill does the opposite.

Poverty is Striking the Community

 

Most people are aware of the financial hardships that regular Americans are facing today. Numerous surveys show the kinds of problems Americans are facing like debt, especially student debt though there are others. Some people cannot afford things like medical assistance and other necessary expenses.

Several Americans do not have enough money to cover a $500 financial emergency. Some reading these words might think this problem is alien or just affecting others, but financial issues are hitting Jewish communities around the United States.

It should be pointed out that the Jewish poverty rate in the United States seems to be higher than in Israel. There is no telling if this might change after the controversial position the US President just made regarding Israel, but it still unbelievable that the poverty rate could be so high in this country.

How Jewish Communities are Fighting Back

 

Jewish leaders, companies, and many others are attempting to address this problem in different ways. For example, the Jewish Family and Children’s Services Emergency Assistance Network tries to not only help families in need but also teach them financial literacy. Sometimes, poor people simply do not have the financial skills to become self-sufficient, which forces them to stay in poverty.

Some people, especially young people, are being directed to discover what consolidation loans can do for them. Many people are forced to take out a loan or a number of loans to deal with some of the expenses that plague most people, such as education and health.

Sure, several countries guarantee health and higher education as a right, but that is not the case in the United States. Residents of the US are paying more for these services than other developed countries. These loans come with high interest rates and they pile up quickly. Those with several loans need to consider consolidating them to reduce the interest rate of the money owed.

Making sure that Jewish communities learn to manage their money is not only vital for community self-sufficiency but also to follow beliefs. Experts in Judaism understand how important it is to keep monetary dealings kosher, which is part of the reason they continue to promote solutions.

Another effective solution worth noting is the one provided by organizations like the Hebrew Free Loan Society, which is attempting to loan cash to those in need with no interest. This is not the only Jewish organization that is offering these types of loans, which is great because it can help people breathe easier.

An interest-free loan can align with Jewish beliefs, which is part of the reason that it is becoming such a popular option. No one can predict which solution is going to make things better for everyone, but it is good to see efforts are being made to reverse the financial burdens some people are being subjected to.