Many have raised the concern on how the civil servants will be able to manage their finances for the 46-days period until their next pay day. Their next salary will be paid on August 25.
Here are some tips shared by Hijrah Wealth Management Sdn Bhd financial advisor Rohani Mohd Shahir:
- Plan your finances for the next 46 days well. Remember there is a 46 days gap until you receive your next salary in August.
- Save or transfer half of your July salary to another account which you do not carry ATM cards like Tabung Haji and ASB.
- Make sure you do not spend when you are hungry. One is advised to go shopping after breaking fast as psychologically a person would spend more when he or she is in empty stomach.
- Have a list of things and expenses that need to be taken care of. Make sure you follow the list and budget set.
- Keep your money in different envelopes as festival expenses must be planned for at least a month. A person is said to be more prudent with their expenses when the money is saved for a longer term.
- Be careful with online shopping. Online shopping can be exciting with its easy payment methods and the fact that one does not see the money flowing out.
- Know your budget and limitations and stick to it!
- Control your urges for a purchase especially in the holy Ramadan month.
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