Chaim BePlus

OUR VISION is Financial Responsibility and Stability for Young Israelis OUR GOAL is to educate and nurture a growing community of financially savvy youth who are preparing for a profession, maintaining a positive bank balance and saving money for the future.

Location: Ra'anana , Israel
Year founded: 2006

Description

Chaim BePlus provides courses in personal financial management to young adults aged 17-21.Our mentors are leading the young generation of the State of Israel towards a future of financial stability and independence.

Quotes from participants:

“I started saving seriously”

“I learned not to spend more than I earn”

“Now I am tracking the transactions in my bank account”

“Before buying something, I’m asking myself if I need it or want it”

Financial Education for Young Adults

About

Powerful media advertising and credit card schemes such as “buy now and pay later” are traps which many young people fall into. Also, young people from deprived backgrounds often resort to buying expensive brand name items as a means to fill an emotional need. Chaim BePlus equips youth with a toolbox of consumer skills they can use to fight these tendencies, and reinforces the benefits of saving money for a future goal. While many projects emphasize employability skills, there is an equal need to teach young people how to manage the money they do earn once they are employed.

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What is the mission and purpose of this program?

OUR VISION is Financial Responsibility and Stability for Young Israelis

OUR GOAL is to educate and nurture a growing community of financially savvy youth who are preparing for a profession, maintaining a positive bank balance and saving money for the future.

Back to Top

Program Description

Youth in Israel’s geographic and social periphery today are at high risk of adopting destructive financial habits. Chaim BePlus, a non-profit organization for financial education, addresses the trends developing and spreading in Israeli culture, where people live on borrowed money (thanks to the easy access to overdraft) in order to support a lifestyle that includes impulse spending without planning or budgeting. These trends lead to poverty and debt and to the worrying statistics that 54% of Israeli citizens are in chronic overdraft (Israel's Central Bureau of Statistics, 2015). According to the 2015 Alternative Poverty Report, published by Latet NGO, 998,000 children live in poverty in Israel. They need to receive effective financial education so they will have a chance to break the cycle of multi-generational poverty.

In our project, Chaim BePlus trains college students with outstanding communication and leadership qualities to be financial mentors. The mentors teach the courses to groups of ten participants, complemented by personal coaching through social media. Youth in underprivileged communities often lack role models for responsible financial behavior. Having a Chaim BePlus mentor is a life-line for these youngsters.

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Demonstrated Need

This project is needed because young Israelis lack role models for responsible financial behaviour. 80% of the Israeli population is in debt, and a popular pastime is “blaming” the situation on external factors. Chaim BePlus seeks to foster taking responsibility of one’s own financial situation through making the right decisions from an early age. When a young person is impacted by another young “cool” mentor, he will be influenced more readily to make a change. This peer-peer model has been proven in many organizations around the world.

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Program Accomplishments

Established in 2006, Chaim BePlus is an Israeli non-profit organization, which develops curriculum, trains mentors, and provides courses in personal financial management to youth, especially in economically disadvantaged populations. Certified by the Ministry of Education, Chaim BePlus has trained 204 mentors who have taught over 11,000 students so far in high schools, technological colleges and National Service. The uniqueness of Chaim BePlus is that it promotes financial success for the young generation through providing not only information and literacy, but also dynamic role models who inspire their peers towards change. Chaim BePlus is the leader in its field in Israel, and is growing from year to year. The Board of Directors of Chaim BePlus comprises volunteer businesspeople from Israel and abroad who serve as liaison between the educational bodies and the corporate and philanthropic sponsors.

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How do you measure the success of your program?

Our success is measured by performance of tasks by the students as a direct result of participating in the project. These tasks include: getting a password to their bank accounts and reading the statements, comparing prices, monitoring spending, checking the salaries in various professions, opening a savings plan, etc.

We continue to track the students in the months following the course, and we believe we have been successful to date, as 75% report the retention of their changes in financial behaviors and attitudes.

We recently began a research study in conjunction with Digma Institute, to further assess the impact of the courses.

Back to Top

Financial Education for Young Adults

About

Powerful media advertising and credit card schemes such as “buy now and pay later” are traps which many young people fall into. Also, young people from deprived backgrounds often resort to buying expensive brand name items as a means to fill an emotional need. Chaim BePlus equips youth with a toolbox of consumer skills they can use to fight these tendencies, and reinforces the benefits of saving money for a future goal. While many projects emphasize employability skills, there is an equal need to teach young people how to manage the money they do earn once they are employed.

Back to Top

What is the mission and purpose of this program?

OUR VISION is Financial Responsibility and Stability for Young Israelis

OUR GOAL is to educate and nurture a growing community of financially savvy youth who are preparing for a profession, maintaining a positive bank balance and saving money for the future.

Back to Top

Program Description

Youth in Israel’s geographic and social periphery today are at high risk of adopting destructive financial habits. Chaim BePlus, a non-profit organization for financial education, addresses the trends developing and spreading in Israeli culture, where people live on borrowed money (thanks to the easy access to overdraft) in order to support a lifestyle that includes impulse spending without planning or budgeting. These trends lead to poverty and debt and to the worrying statistics that 54% of Israeli citizens are in chronic overdraft (Israel's Central Bureau of Statistics, 2015). According to the 2015 Alternative Poverty Report, published by Latet NGO, 998,000 children live in poverty in Israel. They need to receive effective financial education so they will have a chance to break the cycle of multi-generational poverty.

In our project, Chaim BePlus trains college students with outstanding communication and leadership qualities to be financial mentors. The mentors teach the courses to groups of ten participants, complemented by personal coaching through social media. Youth in underprivileged communities often lack role models for responsible financial behavior. Having a Chaim BePlus mentor is a life-line for these youngsters.

Back to Top

Demonstrated Need

This project is needed because young Israelis lack role models for responsible financial behaviour. 80% of the Israeli population is in debt, and a popular pastime is “blaming” the situation on external factors. Chaim BePlus seeks to foster taking responsibility of one’s own financial situation through making the right decisions from an early age. When a young person is impacted by another young “cool” mentor, he will be influenced more readily to make a change. This peer-peer model has been proven in many organizations around the world.

Back to Top

Program Accomplishments

Established in 2006, Chaim BePlus is an Israeli non-profit organization, which develops curriculum, trains mentors, and provides courses in personal financial management to youth, especially in economically disadvantaged populations. Certified by the Ministry of Education, Chaim BePlus has trained 204 mentors who have taught over 11,000 students so far in high schools, technological colleges and National Service. The uniqueness of Chaim BePlus is that it promotes financial success for the young generation through providing not only information and literacy, but also dynamic role models who inspire their peers towards change. Chaim BePlus is the leader in its field in Israel, and is growing from year to year. The Board of Directors of Chaim BePlus comprises volunteer businesspeople from Israel and abroad who serve as liaison between the educational bodies and the corporate and philanthropic sponsors.

Back to Top

How do you measure the success of your program?

Our success is measured by performance of tasks by the students as a direct result of participating in the project. These tasks include: getting a password to their bank accounts and reading the statements, comparing prices, monitoring spending, checking the salaries in various professions, opening a savings plan, etc.

We continue to track the students in the months following the course, and we believe we have been successful to date, as 75% report the retention of their changes in financial behaviors and attitudes.

We recently began a research study in conjunction with Digma Institute, to further assess the impact of the courses.

Back to Top

Financial Education for Young Adults

About

Within
this program Chaim BePlus will provide courses in financial management.  The courses will combine frontal group
sessions and peer mentoring by college students with outstanding communication
and leadership qualities, whom we train as financial mentors. We target youth
aged 17-18, high school students from at the periphery of Israel, at a critical
point in their lives. They are just beginning to work and open bank accounts,
and we are guiding them towards self-sufficiency. Many of them come from low
socio-economic backgrounds. As members of the Cross-sector Roundtable in
the Ministry of Education, we are initiating an innovative collaboration
between the Ministry, Finance Companies and the philanthropic sector. We invite
Natan to be the philanthropic partner within the scope of Economic Development
in Israel.  This is a new approach to
sustainably achieving social impact and economic growth in Israel’s social and
geographic periphery.


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What is the mission and purpose of this program?

Our mission is to provide young people with tools for
financial independence, thereby preventing debt and poverty. These tools
include: how to make a budget, understand your bank statement, earn money,
spend wisely, and save for the future The skills we impart serve today's youth
as they transition into their adult roles and consider education, a career,
marriage, and starting a family. We believe in giving young people a “fishing
rod” rather than a “fish”, so that they will not be dependent on handouts later
in life.


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Program Description

Chaim BePlus trains college students to be “financial
mentors”.  The mentors teach the courses of
five sessions to groups of ten participants, complemented by personal coaching.
The course topics include wise consumerism, creating a budget, planning a
career, reading bank and credit card statements and saving for the future.

The participants practice real-life situations such as
negotiating cellular phone charges, avoiding work exploitation, and exercising
one’s rights. The frontal sessions feature fun and engaging activities
including games, role playing, debates, film clips, and practical assignments.
Participants receive tasks to complete, such as making financial plans and
budgets, tracking incomes and expenses, managing their bank account online,
etc. We discuss career development and employment related issues, including
employees' rights, how to read a salary slip, and salaries in various
professions in Israel. The model used in this program is adaptable and
replicable.

The participants are in Grades
11-12 in high schools training students in vocations (such as electricity
technicians, cosmeticians, chefs, car mechanics); or technological subjects
which will provide them with a stable livelihood. The geographic areas will be
at the periphery of Israel, where there are fewer opportunities for young people
in terms of employment and education. For that reason we believe it is
important to teach them at an early stage to manage the money they do earn for
an easier, more advantaged future.


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Demonstrated Need

This program is needed because young Israelis
lack role models for responsible financial behaviour. 80% of the Israeli
population is in debt, and a popular pastime is “blaming” the situation on
external factors. Chaim BePlus seeks to foster taking responsibility of one’s
own financial situation through making the right decisions from an early age.
When a young person is impacted by another young “cool” mentor, he will be
influenced more readily to make a change. This peer-peer model has been proven
in many organizations around the world. 


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Program Accomplishments

· 
Our
partnerships with educational networks such as Amal, Amit, Darca, Atid and
Sherut Leumi organizations who re-order our courses year after year

· 
Our growth rate
of 25% per year

· 
Our membership
in the Ministry of Education’s Roundtable Tri-Sector Forum and Directory of
Approved Programs

· 
Our excellent
co’operation with Jewish, Arab and Bedouin schools and mentors

· 
Our ability to
recruit the most dynamic, talented college students to lead the courses and be
a role model for the participants


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How do you measure the success of your program?

In order to pass the course,
participants are expected to:

1.  Attend
at least 3 out of 5 sessions on financial literacy

2.  Demonstrate
behavioral change by performing at least 1 task such as going online to their
bank account, tracking expenses and incomes, comparing prices, depositing money
in a savings plan and/or demonstrate attitudinal change such as valuing
independence and aspiring to be self-reliant.

On average in 2014-15, program
participants attended 80% of the sessions, and performed 6 tasks.

In order to measure retention of the habits learned
in the course, we expect the graduates to report that they are continuing to
perform the tasks learned in the course on an on-going basis, and provide
narrative description of the positive life-changing impact the course has had
on them. Following the 2014-15 school year, close to 80% of graduates have
continued to perform their new financial tasks and testified that the course
has positively changed their attitudes towards managing their money.

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