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    Financial Planning Pre and Post Aliyah Planning

    Budget in Israel: Families | Nefesh B’Nefesh

    shaniecooperFebruary 21, 20140 Views0

    Here you will find the sample budget for a family of Olim planning their first year in Israel.  This resource allows you to approximate the main monthly expenses you will encounter after making Aliyah.

    ASSUMPTIONS
    • This spreadsheet is for cash out only, and does not reflect income or savings.
    • All furniture, appliances and clothing are shipped from overseas.
    • All sums are in Israeli shekels.
    • For the purposes of this budget, the family size represented here is 2 adults and 4 children.

    MONTHLY EXPENSES 

    Expense: Cost: Notes:
    Rent 3,700-6,290 NIS
    Transportation by Car 1,800-3,500 NIS Includes maintenance, registration and gas. (Public transportation costs up to 740 NIS.)
    Education 740-3,330 NIS
    Tutoring 0-925 NIS
    Childcare 740-2,220 NIS
    Food 2,400-5,000 NIS
    Phone/Cell/Internet 600-1,500 NIS
    Utilities 925-1,500 NIS
    Health Insurance
    (Supplemental Coverage)
    0-740 NIS Reflects cost of supplemental coverage not included in the basic package. Basic coverage is free for the first six months, and can continue to be free for up to 12 months if you’re still not working.
    Other Insurance
    & Medical Costs
    650-1,200 NIS Includes life, home, property and auto insurance as well as dental and optical care.
    After School Activities 350-1,000 NIS
    Entertainment 250-1,110 Includes TV license and cable; and an occasional movie, babysitter, family trip and eating out in restaurants.
    Arnona (Municipal Taxes) 40-370 NIS Reflecting the 90% discount received by new Olim during the first year.
    TOTAL 12,195-28,655 NIS

    START-UP EXPENSES 

    Expense: Cost: Notes:
    House Setup 3,700-5,500 NIS Includes furniture assembly, electrician and plumber.
    Release of Shipment 3,700-5,500 NIS Depends on the size of the crate.
    Car 55,500-160,000 May be financed. Sum represents initial cost but does not include cost per year for car insurance, repairs and gas. Gas costs 300-400 NIS to fill up a mid-sized car.

    OTHER EXPENSES TO CONSIDER

    Expense:
    Savings Plan
    Charitable Contributions
    Mas Hachnasa (Income Tax)
    Credit Cards
    This chart should be used as an estimate only

    For more information on balancing your family’s lifestyle on an Israeli budget, see Baruch Labinsky’s online Financial Planning Seminar:

    Nbn fin planning labinsky financial 12-2012 condensed from blabinsky
    (This article originally appeared on Nefesh B’Nefesh: http://www.nbn.org.il/aliyahpedia/getting-started-planning-aliyah/family-aliyah/sample-family-budget/)
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