In a few short days, a new government will take office in Israel. When reading the platforms of the various parties, be it those who will make it into the government and those who won’t, one is struck by the degree to which all the platforms promise economic relief to the citizenry. This should come as no surprise, because a politician or party espousing a contrary notion — that the individual is responsible for his own economic health — is likely to be rejected by the voters.

The reigning philosophy of government in Western democracies today (to wit, the United States and most of Western Europe) seems to emphasize that  government is responsible for seeing to the citizen’s overall welfare, while individual initiative and responsibility are hardly mentioned. While no one argues that there are many in society in genuine need of assistance and welfare, and that is the duty of government to provide such aid, the pervasive social welfare philosophy expands the definition of who is really needy to the point of exempting many who very much ought to take responsibility their own economic health. So here are few things to ponder in regard to the elections just past.

It matters little which party you voted for – only you can decide whether to plan a monthly budget which will serve as your roadmap for wise decisions.

It matters little which party you voted for – only you can decide whether you make it a habit to save for yours and your children’s future each month.

It matters little which party you voted for – only you can decide what size apartment to buy to best fit your income.

It matters little which party you voted for – only you can decide not to buy a product for which you do not have the money budgeted or saved.

It matters little which party you voted for – only you can decide that proper health and long term coverage are more important than where you will spend your summer vacation.

It matters little which party you voted for – only you can decide how and where to invest, and how much you will pay in commissions.

It matters little which party you voted for – you (and your spouse) are solely in charge of your financial lives, where you will live, work and play.

When weighing the relative influence and control of government versus that of our own actions and decisions, it is our own behavior which will overwhelmingly determine our economic fate, far more than any political party or government policy.

Subscribe to our free budgeting tips: www.budgetrelief.co.il