This is How to Manage Finances to Stay Stable Ahead of Idul Fitri

Dream - Ahead of Idul Fitri, the prices of basic necessities increase. This makes many people struggle to manage their finances before Lebaran. 

Based on the data provided by Home Credit, the money circulation in Bank Indonesia during Ramadan reaches Rp180 trillion.

From the survey, it is also found that on average, consumers use their money to buy accessories, gadgets, and other electronic devices.

As a result, unregulated purchases according to needs make expenses run out faster.

Not only that, THR for workers is usually used for going back to their hometown, charity, or vacation.

According to Annisa Steviani, a financial planner, it is actually allowed as long as you make a plan for prioritizing basic needs.

“Usually people use THR to go back to their hometown. Especially those who are far away from their island or city. Usually, it is also used for charity, buying a cellphone, and preparing for a vacation. It is allowed to do so,” she said in a press conference, some time ago.

To control finances well, she suggests that people make plans according to their received salary.

In addition, prepare money for emergencies. For example, when a vehicle is damaged, use special funds to repair it.

Furthermore, health insurance is often overlooked. No one knows when we will get sick or die.

It is better to prepare everything well in advance to minimize financial burdens.

“If we get sick or die, we can minimize the risks. We don't have to pay for hospital visits ourselves, that's why health insurance is needed. When we die, our children won't have financial burdens. They can continue their schooling as usual,” she said.

In addition, understand the difference between needs and wants. Most people prioritize their wants. As a result, money that should be used for basic needs is spent on less important things.

Also, keep personal records of debts, interest, or other financing. Avoid 'robbing Peter to pay Paul' and know where the sources of income come from.

“It is mandatory to have records of installments, so that we don't get lost. Because nowadays it is very easy to get financing. Actually, it is not a bad thing, but if we don't have records, we will be confused,” she added.

Report: Nur Rahma