Receiving your holiday bonus feels like a breath of fresh air, but if you don’t manage it with the right strategy, this money can disappear in the blink of an eye. Let’s apply the 40-30-20-10 rule to maintain your financial health.
Prioritize this money for direct expenses related to Eid, such as buying ingredients for traditional holiday dishes, giving hampers or gifts to family, and covering transportation or travel costs.
Use your THR as an opportunity to lighten your financial burden. If you have installments or consumer debt, use part of the funds to pay them off. This will provide peace of mind and free up your cash flow in the coming months.
Don’t spend it all! Secure your future by allocating at least 20% to an Emergency Fund. This is important to prepare for unexpected expenses. Additionally, you can invest in instruments like mutual funds or gold to grow your money.
Holidays are a time for giving. Make sure you’ve fulfilled your Zakat al-Fitr obligation early on, then add a little charity for those in need so that your blessings may be multiplied.
Avoid impulse buying by writing down what you truly need before heading to the market or opening a shopping app. Separate Accounts: If possible, transfer your savings to a separate account immediately after your THR is disbursed to prevent it from being spent accidentally.
Source: Kompas.com
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