THR Setting Tips – Eid al-Fitr is coming soon! Who, anyway, has not been waiting for this moment? Yup! Both adults and children will receive THR money (holiday allowance). Adults get THR from where they work and children get it from their parents.
So, often when people receive THR, they can't manage it properly. As a result, the new THR money was disbursed but it was used up quickly without any calculations. Wow, it would be a shame if the THR money was only for consumptive purposes.
Even though you can take advantage of this so that it doesn't just run out. Well, so that doesn't happen to you. Whizmin has tips on setting THR, you know! Curious? Take a good look at this article, ok!
Read also: Whiz Treats Savings Ramadan (THR) 2023
10 Tips for Setting THR
1. Making Financial Records
The main thing when getting THR is to make financial records. Separate THR from your monthly salary. Then, you can determine what expenses will use this THR fund. It would be nice to use THR for an emergency fund and save, right.
2. Set aside part of the THR Money for Savings
As mentioned in the previous point, when you receive THR, you should immediately take the initiative to set aside the money for savings. Don't get so engrossed in shopping and fulfilling your desires that you forget to save, OK?
Don't let you regret spending THR money for nothing.
According to CNBC Indonesia, Johanna Gani as Managing Partner of Grant Thornton Indonesia revealed that, "Good savings are when you manage to set aside at the beginning when you just receive THR money."
Even in the principle of saving, the term setting aside is better than leaving. By setting aside, you can prioritize to arrange future unexpected needs. So, you don't get confused if there are emergency things that come.
3. Make a Note of Needs
Eits, don't spend it on shopping right away. When you get THR, hold on, okay, your money. Think about it first, about what are the important needs that you really need, for example going home, buying enough clothes, cooking Eid food, and many more.
Choose carefully between needs and wants. Making a note of this requirement is very important, you know. The reason is, if your THR money runs out, you will know where and why your money is running out.
4. Prioritizing Needs
Who, here, is it still difficult to prioritize their needs? Who still likes to indulge their desires rather than needs?
So, don't worry if you're still having trouble, OK?
The first thing so you can prioritize your needs is to ask yourself, especially if you want to buy an item or a product. For example, “Do you really need this item?”; "If you don't buy it, are there any alternatives regarding similar items?"; and so forth.
Apart from that, of course you have to understand basic needs, such as clothing, food, and shelter. Things that are not these three points are considered desires. However, that doesn't mean you have to boast about these three points.
For example, you buy clothing needs in the form of luxury clothes at fantastic prices, even though your THR money and salary are not enough to buy them. Don't force it, let alone get into debt, OK? The reason is, if you are in debt it is feared that you will be addicted.
Later, your debt will explode. Wow, don't be like that, okay!
5. Restrain Appetite Shopping
The urge to shop is really hard to hold back, yes, especially when there are big discounts like Ramadan discounts or Eid discounts.
Usually para e-commerce which offers attractive discounts. Naturally, if you are very enthusiastic, considering shopping online very practical, do not have to leave the house.
So, seeing this incident, you should first manage the budget that you are going to spend on shopping. You have to do these tips so that you avoid the frenzy of attractive discounts that cause your THR money to run out quickly.
6. Set aside Funds for Mudik
Homecoming is a tradition of Muslims in Indonesia when welcoming Eid al-Fitr. Set aside THR for homecoming funds, yes, because going home also requires a lot of funds, you know, let's do the math.
First, if you don't have a qualified personal vehicle, you have to prepare transportation funds, for example train tickets, ships, planes, buses, travel, and so on. Second, if you have a private vehicle, you also need funds for fuel and toll fees.
Apart from that, you also have an obligation to give money to your parents, younger siblings, or other big siblings in the village. Don't forget to give gifts for relatives in the village.
Wow, quite a lot of money that must be spent for homecoming. Therefore, don't be extravagant for what you want, OK?
7. Allocate it for Alms
THR usually comes when it's still the month of Ramadan, usually H-10 before Ramadan. So, in the holy month of Ramadan, people compete to save rewards by giving alms, for example, zakat. That way, don't forget to set aside your THR money for charity too, OK?
8. Paying Off Debt
If you have debt, you can also pay it with THR money, yes. It seems trivial to allocate THR money for everything. However, this can really help you, you know, to pay off debt.
It should also be noted before paying off debt, you first record the amount and source of your debt. Then, you can make a priority list, which debts must be paid off first. How do you set priorities?
You can see how to set it from the nominal debt, deadline, and the urgency, yes.
9. Create an Emergency Fund
Well, an emergency fund is also important, here's what you think about when you get THR money. You can set aside 20% to 30% of THR money for an emergency fund. This is important for you to do because you never know what unexpected events will come.
It could be that you are sick or there are things that need to be repaired, such as a vehicle for going home or broken electronics. Therefore, use your THR money wisely, okay!
If your emergency funds have been collected, save your emergency funds via Whiz Smart Saver. No need to worry if you need funds urgently, you can freely withdraw your funds. Apart from being flexible, Whiz Smart Saver is also very profitable, you can also get 6,75% interest for each tenor or time period. Interesting right?
10. Planning for the Next Eid Expenses
The last tip is to look at or make an evaluation of previous Eid expenditures. You can use this evaluation as a spending plan for Eid in the following year.
For example, this year's Eid expenditure is around IDR 10 million. So in the following year you should be able to prepare funds according to the evaluation or reviews you want to collaborate with.
Through this evaluation, you can set aside money every month for Eid needs. So, when Eid arrives, you can use your THR money for other purposes.
Read also: What is Meant by Ethics?
How? Are you interested in following the top THR setting tips? If you are interested, you can, you know, use the Whiz financial application. to manage your income and expenses.
Apart from that, you can also use Whiz Smart Saver to help set aside your monthly income and get high profits. The goal is that on Eid al-Fitr, the money will be enough to increase the THR which, for example, is lacking.
You must be logged in to post a comment.