In the tapestry of religious traditions, the Hasidic Jews emerge as a vibrant and distinctive thread, captivating the curiosity of many.
With their distinctive attire, deeply rooted customs, and unwavering devotion, understanding the financial landscape within their community poses an intriguing question.
Join us on an enlightening journey as we delve into the economic dynamics of the Hasidic Jewish community, exploring their unique entrepreneurial endeavors, communal support systems, and the interplay between faith and finances that weaves a captivating narrative unlike any other.
What do Hasidic Jews do?
Hasidic Jews strongly emphasize Torah study, which involves learning the laws and customs of the religion and understanding its principles.
Many in the community also follow a more conservative lifestyle, shunning modern technologies such as television and the internet
Hasidic Jews also actively participate in local charities and organizations and often financially support community members in need.
How do Hasidic Jews work?
Many Hasidic Jews work in traditional occupations such as small business ownership, teaching, and the rabbinate. They also set aside time for Torah study, often in organized classes and lectures, and may spend additional time in Yeshiva or Kollel before starting work.
On Sabbaths and holidays, when work is prohibited, time is often increased for learning. Some businesses and offices also have learning programs like “lunch and learn,” where lectures or classes are given during lunch breaks.
How Hasidic Jews make money
Hasidic Jews make money through businesses, working in professions such as teaching and healthcare, and receiving stipends for studying in Kollel. Some may also receive support from family or the community during their time in Yeshiva. Additionally, the Hasidic community’s conservative lifestyle and a strong emphasis on charitable giving can lower living costs.
Small business ownership
Many Hasidic Jews own small businesses such as clothing stores, grocery stores, and real estate.
Increasingly, Hasidic Jews are using Amazon to sell their traditionally retailed products. Amazon's platform suits these largely hermit-like merchants, allowing them to trade without experience, and, most importantly, the transactions are not in person.
Many Hasidic Jews become teachers. However, they are restricted to teaching the Torah to young Jewish people, which is not highly lucrative.
Some Hasidic Jews become rabbis and earn a living through leading synagogues and providing religious guidance. However, they continue to spend many hours studying the Torah while earning a living through rabbinic service.
Some study in a Kollel, for which they receive a stipend. The amount of daily time can vary, from a couple of hours (“night Kollel”) to full time, as can the compensation.
Sometimes members may have a second part-time job or have a working wife to help with the finances.
Family and community support
The Jews are about community and think nothing about providing financial support to their Hasidic brethren.
Parents of Hasidim support the path their child has taken and will also help them financially.
Lower cost of living
Hasidic Jews often live a more conservative lifestyle, which can lead to a lower cost of living and more disposable income.