Consumer & Retail Banking
Consumer & Retail Banking

5 Tips to Maximizing the Lifespan of Your THR

As we approach the end of the month of Ramadan, in addition to looking forward to Eid, Muslims in Indonesia are also anticipating the moment of Tunjangan Hari Raya (THR) or holiday allowance. THR is one of the benefits companies give employees as a form of appreciation and support during the holiday season.

THR can be used for various purposes, including homecoming (mudik) and sharing with family. However, there may still be many people who need help managing their THR properly, causing it to disappear quickly.

Do you want to know how to maximize the lifespan of your THR? Check out these five tips, BMers!

Create a Clear Financial Plan 

Before receiving your THR, it's a good idea to create a clear financial plan for how to use it. Make a list of needs and priorities that must be fulfilled, such as paying off debt, buying household necessities, or setting aside funds for investment. Doing so lets you use your THR wisely and according to your needs.

Don't Go Overboard for Eid

Buying new clothes, providing delicious food, and giving gifts to relatives are traditions during the Eid celebration. However, spend money on these needs wisely. Adjust your expenses according to your financial ability and prioritize more essential needs.

Take Advantage of Discounts and Promotions 

Many stores and shopping centers offer attractive discounts and promotions as the holiday season approaches. Take advantage of this opportunity to buy necessities at a lower price. Remember to compare prices and product quality before making a purchase!

Set Aside a Portion for Savings 

Although we are often tempted to spend our THR, setting aside a portion for savings is a good idea. You can open a particular savings account that cannot be withdrawn before a certain period, such as using the Tabungan Hijrah Rencana from Bank Muamalat.

Invest Your THR 

THR is not just money that can be used to buy consumer goods but also as profitable investment capital. You can choose Shariah-compliant investments such as stocks, Shariah-compliant bonds, or Shariah-compliant deposits that promise halal profits and follow Shariah principles such as the Online Deposito Muamalat.

To use your THR wisely, you can also learn more about finance and investment to manage your money better. Doing so lets you use your THR optimally and lead a better financial life.

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