Next month there will be THR, payday & joint leave, beware!

Jakarta, – Because the Eid al-Fitr holiday will fall on April 22 and 23, the Government has finally decided to take joint leave on April 21, 24, 25 and 26 2023.

If only you received your salary on the 25th, maybe, the workplace transfers your salary before the 21st, are you sure your finances are safe in the face of joint leave?

Holiday allowance money (THR) in the month of Ramadan is usually transferred in the middle of the month but not a few companies also transfer it together with salary.

If an employee has worked at their workplace for one year, they are entitled to THR equal to one time of their monthly salary.

It’s no secret, THR is like a large amount of shock money, when there is additional money in the account during holidays, the temptation to be consumptive arises. It could be that the money runs out instantly just to satisfy the mere desire.

So that you don’t experience this, try to remember some of the important things below.

The month of Ramadan is the right time to pay zakat

If you celebrate Eid al-Fitr, you must be familiar with the obligation to pay zakat. One zakat that must be paid is zakat mal.

Zakat mal is zakat that is imposed on all types of assets that you have, which in substance or substance the acquisition does not conflict with religious provisions.

The amount of zakat mal, of course, depends on the assets you have, because the calculation is 2.5 percent of your assets.

Therefore, before you spend your THR money on consumptive things, remember that there is still an obligation to pay zakat. With this, you are expected to be even more careful in using your money.

You can speed up debt repayment with THR

However, repaying debt will lead to passive spending and having debt will erode our wealth. One of the best things to do with your debt is to pay it off when you get a boost.

There is nothing wrong with using all or part of your THR money to reduce your debt.

If you have mortgage debt, then you can make partial repayments and this will reduce the principal debt and make repayments easier.

Do you have an emergency fund yet?

Zakat has been paid, debt is safe, but do you have an emergency fund? If not, don’t spend your THR.

Remember that it is very important to have an emergency fund to anticipate unwanted and urgent things.

Just allocate some of your THR funds for emergency funds first.

When you have more money, you can invest a larger amount

When there is more money, then when our market conditions are undergoing a correction, of course that can be a blessing in itself.

You can take advantage of this moment to buy investment instruments that can support you in realizing your short and long term dreams, such as the cost of educating your children, the cost of buying a house, retirement, and so on.

[Gambas:Video CNBC]

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