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Who here is starting to receive the Raya Hari Allowance (THR) because Hari Raya Lebaran is getting closer? It's not just holidays, homecomings, and family get-togethers; you must have been looking forward to THR's disbursement date, too, right?
For the workers, Hari Raya Lebaran is indeed synonymous with receiving THR. In addition to being one form of encouragement for Indonesia's economic growth and stability, THR is given in the hope of helping recipients meet their needs during the next Lebaran.
To ensure that the money for THR is still available until Lebaran, let's follow the financial management tips provided by Hari Hari Allowance. It is important to follow all the tips until the end to ensure the funds do not run out quickly.
THR money needs to be properly managed by each recipient due to the many needs ahead of the holiday, such as shopping for new clothes, cake ingredients, and a hamper leaflet for relatives or friends of the office.
Not to mention, accepting 'extra' money sometimes encourages our 'consumptive behaviour'. Therefore, few of us spend allowances on items that are not a top priority.
The money received as THR can be turned into an asset, yield more profit. Still, instead, it is spent unnecessarily on shopping trips. It is recommended that every holiday allowance recipient sets aside their THR before using it for any purchases.
Instead of exhausting your THR, consider using strategies to manage it effectively and make it last until Eid.
Whether it's food, clothes, parcels, maybe even transportation costs for homecoming or souvenirs, our needs will be even higher in the run-up to Hari Raya Lebaran. In this situation, develop a THR money allocation strategy so that it does not run out quickly by following the following THR money management tips:
The first tip to manage THR money so that it runs smoothly is to set financial priorities. Separate between needs and desires and which ones are most important to take precedence.
As soon as you have liquidated your THR, you can use a portion of it to pay off any outstanding debts or instalments, such as credit card bills, insurance premiums, etc. By following these guidelines, you can ensure that you are relieved of financial burdens after Lebaran.
In addition to prioritizing and paying off debt instalments, set aside at least 10% of THR for your needs in the coming day. That's a lot of savings from THR money.
Instead of just setting financial priorities, commit to spending benefits according to priorities, such as transportation costs for homecoming, souvenirs, or even money to share with nephews.
Well, if you are looking for ease of allocation budget according to priority, you can use the FINETIKS application available at Google Play and App Store.
It's not just 'don't run out'; using THR money for investment is one strategy that can increase your profits. You can use THR money to add value to assets or wealth through instruments such as mutual funds, stocks, or gold.
Use holiday allowances to meet basic needs and avoid fulfilling all holiday shopping desires. This way, you will save the money you've saved so far.
If you are struggling to manage your finances this Ramadan and want to build better finances until next year, you can read how to save money during Ramadan here.
Stores typically provide discounts, promotions, and other savings programs before Lebaran. Taking advantage of these offers is worthwhile to save money and make ends meet more easily during this time. Take advantage of opportunity to reduce your expenses and get the most out of your money.
Even if there are many discounts and promos, so that THR runs smoothly, prioritize the need first. Resist yourself from not doing impulsive buying, and pay attention to the urgency of everything you want to buy.
Once the THR has been converted into cash, allocating 20-30% of the holiday allowance money towards emergency funds is advisable. Starting now, it is always wise to prepare for unexpected situations, such as health issues, work-related emergencies, or any other unforeseen events.
Managing THR money doesn't mean you can't shop, but prioritize your needs first and use the rest for shopping. So, after the priority needs have been met, you can use the rest of the allowance money to shop for new clothes, Lebaran cakes, hampers, leaflets, parcels, etc.
Managing THR intelligently means managing benefits and prioritizing needs first. To avoid running out of money, you can directly allocate THR money to financial posts.
To make financial management more accessible, you can use the FINETIKS application. In addition to providing convenience, FINETIKS is also safe to use. Record transactions, manage finances, set targets, or manage emergency funds—you can get all the features in one app for FREE!
Stay consistent with the financial plan you've already prepared; let's #JadiFinter manage finances with FINETIKS.
