In August 2021, the average overdraft for an Israeli family was 11,216 shekels, 2.3% less than it was in July. Fewer Israelis had smaller overdrafts in August 2021 than in July, according to a “Minus Index” compiled by Globes, First Digital Bank and the MyFinanda app, based on data from 2,000 users of the app. In August 2021, the average overdraft for an Israeli family was 11,216 shekels, 2.3% less than it was in July. Also in August, the number of Israeli households with overdrafts decreased to 28.7% compared to 30.6% in July 2021 and 31.2% in August 2020. These numbers are surprising because August is traditionally a month when there are more People with bigger overdrafts with out-of-school children who need entertainment and Israelis on summer vacations. The assumption is that Covid-19, green passport requirements and other restrictions have prevented many Israelis from taking vacations or going to places of leisure. In August, 6.6% less was spent on dining out and 12% less on vacations and excursions, compared to July. The largest decrease in overdrafts was in socioeconomic strata 3-6 where the proportion of households in overdrafts decreased to 25.2% compared to 31.2% in July. But those in the red increased their overdraft by an average of NIS 500 to NIS 8,980 in August compared to July. In the higher socioeconomic brackets (7-10) the average August overdraft was NIS 15,515, with 36% of households in these brackets being overdrafted. Published by Globes, Israel business news – en.globes.co.il – on September 14, 2021 Copyright Globes Publisher Itonut (1983) Ltd. 2021
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