Everyone likes to joke about Jewish people controlling all the money in America. We can laugh all we want but the fact is, it’s true. It’s astonishing just how much economic, political and cultural influence they have in this country. For such a small part of the population, we must ask “how do they do it?” You might think there is some big secret to this all but you’re wrong. There are actually five of them.
JEWISH MONEY STARTS WITH THE CHILDREN
Traditions in this culture start with the children. The child is extremely important. The Jews believe that children need to be given an education and strong identity at an early age. So by the time they can talk, a child already has a level of confidence and pride that’s far above other cultures. From there, they’re prepared to make a difference in the world.
JEWISH MONEY IS BORN IN COMMUNITY
The community amongst Jews is a strong one. They eat together, they learn together, they make friends together and eventually, make a profit together. They know that success doesn’t come to the individual. Hence, as a community, they form larger and more frequent opportunities.
JEWISH PEOPLE TEACH THEIR KIDS ABOUT MONEY
Let’s talk about Christian cultures for a second. In Christian cultures, wealth is viewed as evil. It’s a sin to want it as it’s a distraction from God. However, that’s not the case in Judaism. Financial education happens at a very young age. Then, they learn about the five principles.
THE FIVE PRINCIPLES OF JEWISH MONEY
Tithe, giving, saving, investing, spending. Those are the five pillars of financial education in Judaism. Usually, families separate these five categories into jars. 10% of your savings goes into the first three jars, 20% in the fourth and the last 50% goes into the “spending jar.”
JEWISH MONEY IS ALL ABOUT PRINCIPAL
Jews conduct business in an honest and moral manner. Perhaps that is the most important takeaway from all of this. You want to have a product that people need. Furthermore, you desire to make the world a nicer place and you want to make people happy. If you prove you’re valuable to people, then the cash will flow naturally.