Ramadan is just two weeks away, and it’s never too early to plan for this special month. Aside from the spiritual value of the month that many observe, almost everyone takes part in celebrating the month in some shape or form. Iftar and sohour invitations typically pour in and gatherings with family and friends can’t be missed. 4
But many of the events that come with the holy month can quickly put a strain on your budget. That is why the time is now to get your ducks in a row, and plan how you will handle what seems as an inevitable increase in your expenses over the coming six weeks or so.
There are many ways that you go through Ramadan without a financial strain, but many of these require planning and reworking your budget and commitments. Here are a few steps to start:
Save ahead
Knowing that many of the expenses are coming up during the next month, tightening your belt slightly now may help you start with a little bit more disposable income. That can offset dining out, throwing iftar banquets for family and friends or simply any other unexpected expense. Saving can be easily done by pushing some gatherings a couple of weeks back or simply trying to think of the time leading to Ramadan as a period for planning.
Use a calendar
It is easy to get carried away in the first few days of Ramadan with invitations, going out to explore the special events, etc. The problem is: Once your cash runs low, you may find that you still have a couple of weeks to go until the end of the month and your next paycheck. It gets even more complicated if you find out that a mandatory iftar is still pending along with your running bills. To avoid being cornered in a situation like that, use a calendar to mark the important events (mandatory family visits and invitations, gatherings with friends, etc.) and set their budget aside. Having a weekly budget can be helpful in keeping you on track.
In addition, knowing which events – professional and personal – that you need to attend can help you plan or perhaps combine some together. For example, it may save you a bunch if your have only one night a week when family and friends are invited over. This also helps you reduce waste that typically results from each invitation.
Outside the box
You’re not alone in struggling with financial issues. Many of your friends or family members may be feeling the pinch with having to pay for several banquets and frequent gatherings. To help change the collective mindset, suggest that you share you the cost. Although a blunt request can be hurtful given the social customs, you may frame it in a more positive light like having a dish party or a themed iftar where everyone contribute to the organization. This won’t only save you money, but it may also save you the hours spent on grocery shopping and cooking.
You may also experiment with ideas like taking this month to focus your attention on a new endeavor – which can be anything from concentration on the spiritual side, volunteering for a charity to adopting a new fitness routine. The point is to redirect your attention away for the luxury temptations that are typically driven by retailers’ interest.
Use work hours
Work hours are typically reduced during Ramadan which may mean that you can use this extra time to catch up with hobbies and projects that may be lucrative. Do you have a side source of income? How about putting those extra hours into making more money? Although this may sound tough for those who are fasting and in need for less hectic schedules, many others who aren’t – but still be stretched thin by the extra expenses – can use the extra cash.
Rania Oteify, a former Gulf News Business Features Editor, is a Seattle-based editor.
