Strategies to allocate holiday bonuses wisely ahead of Lebaran

Jakarta (ANTARA) - Financial educator Aliyah Nastasya has shared strategies for making the most of Tunjangan Hari Raya (THR) holiday bonus money ahead of the Lebaran festivities.

“For THR allocation, I believe there are portions we can divide up, and the allocation must be ideal,” Aliyah said at a press conference in Jakarta on Monday.

Aliyah stressed that timing is everything when it comes to long-term investment. Good time management can help secure priority needs from the very start of the planning process.

Such intention will reinforce the desire to plan needs thoroughly, in a more structured manner, and to understand the living standards that need to be established before gathering with family in one’s hometown.

“The THR is actually substantial because it amounts to one month’s salary, but we often find that after receiving it, it’s gone by the end of every Lebaran. Why? Because we have no intention of allocating it for important things,” she said.

For example, THR funds could be divided into 20 per cent for zakat fitrah, charitable donations and consumer debt; 20 per cent for Lebaran feast preparations, clothing and hampers; 30 per cent for mudik homecoming travel and transport costs; and the remaining 30 per cent saved as long-term investment.

Within this overall division, each individual must then further detail their funding into short-term, medium-term and long-term categories. This is intended to ensure that all allocated money does not stray from its designated purpose.

“What I find difficult in Indonesian culture is boundaries, especially in family matters. If you don’t comply, you’re called ungrateful or stingy, when in fact if we mutually respect each other’s rights and obligations, that money is the right of the person who earned it,” Aliyah said.

She also emphasised that financial planning will help people map out their goals more easily according to the deadlines they have set.

“None of this can be achieved all at once. Everything has its own season,” she said.