UM Surabaya Economic Expert Shares Wise Tips on Managing Finances at the Moment of Eid

• 05 May
• 2022

Ilustrasi Mengatur Keuangan Menjelang Hari Lebaran. (Pexels/Karolina Grabowska)

UM Surabaya Economic Expert Shares Wise Tips on Managing Finances at the Moment of Eid

• Article
• By Uswah Sahal
• Economy
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Eid is a special moment for Muslims, especially for those who migrate and return to their hometowns to share with family and relatives. Various things are prepared to welcome the holiday, starting from the needs of going home, preparing Eid food or snacks, new clothes, giving gifts to relatives and fulfilling other household needs.

Eid is the most awaited moment by most Muslims around the world, as a symbol of victory over the fasting month of Ramadan. In welcoming Eid, of course the preparation needed is not only to meet personal needs, but requires preparation to welcome guests who come to the house to stay in touch and of course all require preparation and also finances.

Fatkur Huda, an Economics Lecturer at UM Surabaya, explained that in managing finances during Eid, it is necessary to prepare a special strategy so that Eid expenses can be controlled properly and do not become a threat after Eid.

First, shop according to your needs, various needs have certainly been planned ahead of Eid, both personal needs and needs outside of personal needs. On the other hand, traders will take advantage of this moment to provide promos, both traders who sell their products online and offline.

“Efforts to be able to refrain from buying discounted goods are the right step, especially since these items are not included in the planning and priority. So that you can still shop as planned," said Fatkur, Thursday (5/5/22)

Then use THR wisely. Some of us who receive THR every year are certainly used to managing it, however, getting THR still needs to be anticipated wisely in arranging it.

"If the THR has been received, it would be nice not to use it directly for spending, let alone spending something that was not planned. Use the THR funds in stages by setting priority needs," he added.

According to Fatkur, it is important to allocate saving funds. Setting aside finances from the start as savings (savings funds) is one way that can be done to avoid unexpected expenses, both before and after Eid. If this is not done, it will affect expenses to swell and can cause debt in the future.

Finally record all expenses. This method is an effort to control expenses and not over budget. Record all one month's income along with the amount of THR received. Next, record the expenses that use the allocation of these funds.

“That way someone will see the amount of income and also see the amount of expenditure. From there someone will know when someone needs to do financial security, "he concluded.