Mesila? financial coach?feel stuck!

amother

Indigo

Mon, Dec 10 2018, 5:49 pm

Hi, under amother for obvious reasons.. anyone here use mesila or a financial advisor?
I feel like we are doing something wrong were both working we try to be careful and our cc debts just get higher and higher I talk to friends that are in the same situation and they seem to be living within their budget,me and my husband both didn't grow up tight but that's not an excuse anymore it's been some years since we were single...feel so stuck every time were able to put some money and pay same debt feels like there no point it will just climb back
Wondering if a financial coach is just another thing that will add to our debts
Also I live oot so note sure there are free places that help with this
Tnx for reading I know it's long ... would appreciate any advice!!

amother

Peach

Fri, Dec 14 2018, 8:49 am

mesila is NOT free!!! I'm not sure where that perception came from but it is extremely prevalent. When I realized how much it cost both to the clients and to the branch I was pretty surprised.
There are non Jewish places that will help with budgeting over the phone- is that what you are looking for?

also if you live in cincinnati can you pm hashem yaazor. I might be able to help you out with counseling

Chaya123

Fri, Dec 14 2018, 12:12 pm

dankbar wrote:

Isn't mesila free?

Unfortunately, there is a charge for Mesila financial counseling.
One thing I did get out of Mesila, which may help you, is that sometimes paying debt brings you into more debt. I had this situation before Sukkos, where we were terribly tight without a penny for anything and someone gave my husband $1000. My first instinct was to give straight to credit card as we accrued so much debt. Then, I remembered what Mesila told us and said, let's just use this money towards all our YT expenses and not go into further debt, which is exactly what we did.
It's tough, working and managing budget. Much hatzlacha!

Ruchy

Sat, Dec 15 2018, 9:40 pm

We actually know a ALOT about Mesila. It is an amazing, wonderful organization and I highly encourage just about everyone to get in touch with them. www.mesila.org is their website. In Monsey the director is R' Ephraim Pessin who can get you in touch with top advisor Mrs. Lauren Hershkowitz, who knows her stuff cold and has been a shliach min hashomayim for many people. For newly married couples, learning what Mesila teaches is just as important as kallah classes. Mesila has educational programs for schools, some businesses have required their employees to attend coaching sessions at Mesila, etc. This organization is a light at the end of the dark tunnel of debt and financial distress. I personally know many people and families who have been guided and gained from Mesila.
And to answer the ambiguity of whether it is free or not: Mesila used to be free, but they realized that people were not taking it seriously enough when they weren't putting money into it. So they charge a minimal fee per session, which you make up many times over when you learn how to manage your money in the most optimal way.

amother

Silver

Sun, Dec 16 2018, 4:32 am

I've called Mesila here in Israel - DH and I were very interested in seeing them.

Unfortunately, the charge was 900 shekel. (Minimal?!)

I agree that they do amazing work and I really hope that one day we have an extra 900 shekel laying around to see them. Of course, if I had an extra 900 shekel laying around, there may be no need for me to see them.