Usually after the Eid holiday, financial conditions will be depleted. Especially for those who are mudik, certainly have more spending. Either spending on things that are needed or not. Actually, financial thinning after Eid can be anticipated, as long as you can manage your finance well and can limit yourself during the Eid holiday.
Then what if you have already spent a lot of money? If so, it's time for you to reorganize your financial condition. This can begin in the first week after the Eid holiday. Faster, better, so that it will not interfere with your financial targets in the future. Following are tips on restoring finance after Eid.
1. Check Your Remaining Budget
The thing you must do immediately after the Eid holiday is to check the rest of your money. If you have more than one account, take note one by one of your last balance in each account. However, try not to touch the investment account because it is considered as a priority saving account.
2. Make an Expenditure Plan
After knowing your remaining balance, then you have to make an expenditure plan until the payday arrives. Expenditure in question include spending on daily necessities, instalments, and other routine expenses such as electricity, water, and more. Ideally, the money you have after Eid can still be used to pay for all of your expenditure lists. If it turns out it's not enough, you can use your emergency fund.
3. Save Money
This must be done especially if your remaining fund is limited. Don't rush into debt, because it will disrupt your financial flow. Review your expenditure plan until end of the month, is there a post that can be reduced or at least saved. Usually to outsmart, you can cut the cost of food. The trick is if you usually eat outside, you can replace it by bringing lunch from home.
4. Keep Prioritizing Paying Debt
Of the many monthly expenditure plan arranged, do not forget to paying debt. Instead, prioritize your remaining money to pay your debt. Especially if it is consumptive like credit card debt. Debt like this must be closed immediately, because cutting down the bill will only make your debt increase.
5. Don't Tinker Your Emergency Funds
Whatever money is left after Eid, avoid using emergency funds. Because, these funds are prioritized to finance unexpected needs. If you are forced to use emergency fund, return it as much as you used when you have paid. That way, the nominal amount of your emergency fund will not decrease.