Religious Holiday Allowance (THR) just like a fresh air for any employee during the Coronavirus. In the midst of uncertainty, Alinear will help you feel more control of your finances.
This annual allowance has no difference than monthly salary, where you have to be able to keep your priorities besides unnecessary needs. Here are simple steps to conserve your allowance to face the difficulty of an enforced lockdown until further notice from our government.
1. Grateful
First thing first, be grateful. No matter how much allowance you get, always remember, there are millions people are not as lucky as you. Most of them were laid off because of the Coronavirus and get no allowance at all. Do not complain, take the allowance even it is not as full as previous years, learn how to give thanks, show appreciations, and express gratitude. Take a moment and think about how many time you should say “thank you”.
2. Priority
Do you have debt? Any form of debt, either credit cards, loans from relatives or friends, online and so forth. If you still have debt, use 30 percent of your THR to pay the debt off. Do not give in any longer. The uncontrollable debt will destroy your future life.
Right after pay the debt off, do not forget to pay zakat especially for Muslim. Use 20 percent of your THR to pay zakat al-Fitr (obligation upon every Muslim to take care of poor few days before the end of fasting month) and zakat al-Mal (obligation upon every Muslim who having certain amount of wealth pay zakat in term of money or food to needy people). The amount of zakat al-Mal is 2.5 percent for your income, while zakat al-Fitr equal to 3.5 liters of rice.
3. Emergency Funds
Emergency fund is a must, it simply because you can use this money which set aside to cover large unexpected expenses, including unemployment due to Coronavirus, unforeseen medical expenses, and costliest expenses force you to spend a lot of money. Hence, it is highly recommended to use your 40 percent of THR for emergency fund like savings where you can use the money right away for unexpected expenses. However, do not ever, never think to use this fund for consumptive, unnecessary things.
4. Eid al-Fitr Needs
Last but not least, remaining 20 percent of your THR can be used for Eid al-Fitr needs. For those who unfortunately cannot go home to meet parents and families can use this money for giving parcel, cookies, and other things they really need to celebrate Eid al-Fitr. While for those who have great opportunity to celebrate with whole family can use this money to help needy people in any form of help, either food, cookies or even prayer items.
Top photo source: https://pixabay.com/id/photos/uang-rupiah-gaji-ekonomi-keuangan-3431772/