Kosher Money Wanna Build Wealth? Avoid These Money Mistakes (Feat. Naftali Horowitz)
Jul 11, 2021
Naftali Horowitz, Managing Director at JPMorgan who advises high-net-worth clients and wrote You Revealed, shares practical money wisdom. He discusses community cost pressures, debt's role in lifestyle upkeep, and where to cut spending first. He covers teaching financial literacy, avoiding bad debt, and choosing focused income growth over scattered side hustles.
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Use A Third Party To Resolve Money Fights
- If spouses disagree about money, bring in a third party like a mentor, rav, or financial guide to mediate.
- Address issues early because ignoring them for peace leads to bigger, painful remedies later.
Teach Money Skills Early
- Financial literacy rarely appears in yeshiva curricula, so parents must insist on teaching money skills at home.
- Lack of early education lets debt creep up because people don't grasp credit dangers until it's severe.
Peer Pressure Is Amplified Locally
- Peer pressure in tight-knit Jewish communities amplifies visible consumption and drives people to live above their means.
- Naftali argues moral and spiritual tools (Torah, self-worth) are stronger counters than purely social tactics.
