RSK financial coaching on Meaningful People

amother

Thu, Aug 10 2023, 11:25 am

I just finsihed watching an epsode on the Meaningful People podcast that really got me thinking. It's not a recent one, but I just got to it now.

It was an interview with Matis Gilbert who runs an organization called RSK. It deals in helping families financially, either through paying their grocery bills (I think) or through financial coaching. It sounds a bit to me like Mesilla, but I have no experience with either, so I can't say for sure.

I highly recommend that everyone listen to this podcast. I personally hate talking or thinking about finances. My finances are a bit messy, and, from many of the posts here, it seems that I'm in good company.

Has anyone had experience with RSK financial coaching and can chime in on their experience?

In any case, the podcast was extremely enlightening, inspiring and worth a listen.

amother

Thu, Aug 10 2023, 11:46 am

There is one line that I found especially powerful.

They were talking about credit cards. Matis was making the case that credit cards mess with your head. That most people who use credit cards end up incurring debt. The credit card companies are not in it for the chessed, they want to make money so they are banking on you having to pay them interest. They aren't there to build your wealth- only their own wealth. He quoted a statistic that says that people spend 18% more with credit card than with debit card.

This is the line that I found most powerful: he said that when you have a debit card, and your wife calls you from the store that the account is low, and you turn to Hashem- it's gevalt. Nothing like it. He said: credit cards have stolen the relationship with Hashem when you need that few extra thousand dollars. When you have a credit card, you never need to turn to Hashem in the same way. You just charge the card and don't think about it. And Momo responded with making a parallel to the curse of the nachash, who was cut off from having a relationship with Hashem because he has all his food provided for him.

The podcast and message seems to be two-pronged:
1. Hashem has enough shefa. He doesn't max out at $1500 a month. You can always ask Hashem for more. And He will provide when you put your trust in Him.

2. At the same time, they work on teaching couples fiscal responsibility and career advancement so they could actualize the shefa.

The premise is that you could be making 1, 2 or even 3 hundred thousand dollars a year and still not be making it. The frum lifestyle just doesn't add up. It was very validating to hear that.

Finally he pointed out that many marriages are in trouble, but not because it's inherently bad. It seems that way. But when they are able to go for financial coaching, they see miracles beyond their wildest dreams.

agreer

Fri, Aug 11 2023, 1:26 pm

amother Winterberry wrote:

Isn’t a payment plan kind of like a credit card? 😊

NO!

A payment plan doesn't charge interest. That's where the credit cards get you.

Also, a payment plan with a specific organization doesn't allow you to buy anything else you want and put it on the plan.

Now, if they accept credit card as a form of payment for the plan, then we've got a problem Can't Believe It

amother

Fri, Aug 11 2023, 2:01 pm

amother Coral wrote:

I went for an intro session but didnt follow up
for some reason I felt very judged
Also I didnt know they charge $600 for the coaching
all in all it just felt like I was under scrutiny
could be it was me and my vulnerability
but you asked so I answered

Thanks for your experience. As I understand it, all the coaches are volunteers. So maybe you just got one who was off-putting to you...

But as I understand it- yes, the idea is to scrutinize every penny that comes in or goes out.

Is it 600 per session or for a few weeks?

amother

Fri, Aug 11 2023, 2:47 pm

lamplighter wrote:

Id love to hear how they were helpful.
Also if they are volunteers why is there a $600 charge?

He mentioned in the podcast that they have to charge because then people are much more invested. They do offer scholarships.

But I also assume that there are ancillary costs to keep it running, such as a website Etc. Every org costs money even if they are run by volunteers.

amother

Forestgreen

Fri, Aug 11 2023, 2:55 pm

agreer wrote:

Except that you are paying for something that you don’t have the current funds for. 🤷‍♀️

Why not make people save the money as the first step in fiscal control.

agreer

Fri, Aug 11 2023, 3:17 pm

amother Forestgreen wrote:

Except that you are paying for something that you don’t have the current funds for. 🤷‍♀️

Why not make people save the money as the first step in fiscal control.

Like someone mentioned above - if they aren't financially invested, they aren't committed.

The people getting the coaching haven't learned the skills they need for fiscal control. Paying a coach to learn these skills seems like a very worthy investment.

And no, I don't work for them! Never heard of them, in fact.

But I work in mortgages and I see every day how poor financial habits keep people trapped.