By Shmuel Shayowitz
One of my most cherished roles is that of a financial advisor, mentor, and coach to people who reach out to Living Smarter Jewish. Living Smarter Jewish (“LSJ”) is a non-profit organization dedicated to helping individuals, couples, and families achieve financial freedom by providing access to educational resources and guidance. As their website simply says, it’s “The All-in-One Financial Resource for Jewish Families.”
My role at LSJ, is to help those I am paired up with in all aspects of personal finance, budgeting, credit improvement tips, home financing analysis, real estate ownership, and investment strategies – just to name a few of the topics I cover. Beyond general topics and textbook strategies, however, my goal is to truly personalize the conversations to the competence and capabilities of the person to whom I am speaking.
Even more, I try to incorporate a holistic financial approach to help people make lifestyle changes that can help with the whole “relationship” with money, mindset, and financial overwhelm. Here are some quick examples of some Living Smarter Shmuel’ish tips that I have given over…
Progress Not Perfection. Many people struggle with a paralysis analysis attitude. Others battle perfectionism syndrome. There are other patterns that would fit this category, but for most cases, I talk about setting a goal of “progress,” not “perfection.” The reality is that there is no secret sauce or “get rich quick” hack that someone can deploy. For most people, it’s just the encouragement to recognize that they need to take slow, steady, and consistent steps toward making effective permanent changes. The same advice would hold true for those looking to lose weight or bulk up in the gym.
Bulk Your Time. Many push off important financial decisions or paperwork processing because they find it intimidating or overwhelming. Whatever the reason for the procrastination, if you were to bulk your time and save similar tasks for a specific day or time of the week when you are at a more peak energy level, you will find more success. Rarely does someone want to sit down to do bills on a late Thursday night after an exhausting week. Instead, schedule an appointment with yourself and put it on the actual calendar when you will handle all similar matters. This habit will also help clear your mind of the “open loop” that you have outstanding things that need your attention.
Getting Things Done Strategy. If you haven’t read the book, “Getting Things Done” by David Allen, I highly recommend it! While it isn’t a read about finance or budgeting, it’s a personal “productivity system” that can easily apply to any aspect of life. The premise boils down to four choices that someone should take with each task at hand. These four options are – Do, Defer, Delegate, or Delete.
With every task at hand, you should ask yourself, does this task take five minutes or less to complete right now? If the answer is yes, you should most often complete the job immediately. If it’s more complicated or perhaps something requiring more planning or phases, defer it to a different time slot you designate for yourself on the calendar.
Another very compelling option is to delegate the task to someone else who should do it on your behalf because they are better-suited or because you have more important things that you should be doing. Always think of “who else” can do a task that perhaps you are hesitant or unable to do. Delegating can also be done through automation. A good example might be setting up a reoccurring auto-pay billing option for common monthly expenses. Finally, there is the option – and one needs to give themselves the permission – to simply delete or say “no” to specific tasks they need not do.
These are but a few of my “hacks” that I love sharing with clients, friends, and mentees. Please never hesitate to reach out to me or Living Smarter Jewish directly to explore their services and offerings. The goal is always to empower people to lead a more financially “healthy” life and to provide the tools, resources, and knowledge to help get them there!
Shout-out and much gratitude to Zevy Wolman and Simon Taylor for all they do for LSJ and the many initiatives that Zevy has spearheaded to help educate and empower Jews worldwide with financial tools and resources to succeed.
Shmuel Shayowitz (NMLS#19871) is a highly regarded Real Estate & Finance Executive, Writer, Speaker, Coach, and Advisor. He is President and Chief Lending Officer of Approved Funding, a privately held national mortgage banker and direct lender. Shmuel has over twenty years of industry experience, holding numerous licenses and accreditations, including certified mortgage underwriter, licensed real estate agent, residential review appraiser, and accredited investor, to name a few. Shmuel has successfully navigated through many changing markets and business landscapes, making his market insights and experience well-coveted within the real estate industry. He can be reached via email at [email protected].
