Want To Be Economical But Still Able To Shop, How Do You Do It?

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JAKARTA - The COVID-19 pandemic has not only impacted the health sector but also battered the global and national economies.

As a result, some households experienced a decrease in income. Therefore, people must get used to frugality, given that there is no certainty when the pandemic will end.

The government prepares a budget of IDR 30.6 trillion for the payment of THR for civil servants (PNS), TNI and Polri. This year's THR will also be paid in full even though the economy has not yet recovered. However, the government recommends spending it.

Then, how do you stay frugal but can shop?

My financial planner, Shierly said that the biggest circulation of money in Indonesia is during Eid. In that one month, the money in urban areas can be spread to the regions.

In this Lebaran moment, said Shierly, the THR money obtained can be used for shopping. However, he warned against overdoing it. This is because without a clear plan it will result in an imbalance between income and expenditure so that it has the potential for debt.

"On the other hand, you can take this time for a moment to enjoy your 13th salary to relax a little during the pandemic, but also don't overdo it. So don't cause new debt," he said when contacted by VOI, Friday, April 23.

In order to avoid financial problems because money is used for shopping, there are two things that need to be considered:

Set Expenditure Priorities

Shierly said that in order for expenditure and income to be balanced, you must set expenditure priorities. The goal is controlled expenditure and does not swell.

"So back again depending on what kind of needs. If you want to spend not 100 percent," he said.

Pay off the loan

THR money can also be used to pay off part of the debt. As is well known, a pandemic has caused a portion of people's income to decline. So, not a few who make loans or owe.

"While getting a bonus, pay for debt. This is for friends who face debt problems during the pandemic," he said.

Setting up an Emergency Fund

Apart from determining priorities and repaying loans, said Shierly, the income from the THR can also be set aside for emergency funds. These funds can be used for urgent purposes.

"If possible, 1/2 or 1/3 of the total THR obtained will be placed in the emergency fund. Some of it can be spent (for other needs)," he said.