Managing Money in Ramzan

As we step into the holy month of Ramzan, it's not just about spiritual journey and fasting; it's also a great time to be mindful of our finances. Particularly for those of us who manage our household, with inflation on the rise, it's crucial to watch our spending habits. Let's look into why managing money matters more during Ramzan and explore practical tips to avoid excessive spending.

During Ramzan, we might feel tempted to spend a lot, whether it's on fancy iftar meals, buying things without thinking, or going out to eat with friends and family. And who can blame with so many advertisements and promotions going on, it's even more important to find a balance between enjoying Ramzan and being careful with our money.

Tips to Cut Spending:
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1. Make a Sensible Budget:

It begins by making a realistic budget for the month. Think about important things like groceries, bills, and charity first. After that, set aside a sensible amount for spending on things you want but don't really need. This helps you stay on the right path and avoids unnecessary stress about money later.

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2. Meal Planning and Clever Grocery Shopping:

Instead of gathering too much food that might not get used and may end up in the trash, plan your meals carefully. Make a weekly plan for what you want to eat, create a shopping list, and stick to it only. This not only stops you from buying things on a whim but also helps you use your resources wisely. Also never shop while you are hungry, there is greater chance you will impulsively hoard things you might not even want.

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3. Home-Cooked Food vs. Eating Out:

Even though going out to eat is tempting, making food at home is better for your wallet and your health. Pick certain days to eat out and save the rest for having homemade iftar with your family. This not only keeps your money safe but also makes everyone feel more connected and responsible together. Control and discipline is key!

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4. Eid Shopping Planning:

Rather than succumbing to last-minute impulses, create a shopping list for clothing and accessories. Set a budget, explore affordable options aligned with your style, Before you buy anything online, check your cart and think about whether you really need each item. If you want to buy something on a sudden urge, add it to the cart but take a break. Step away, wait for a day or two, and think about if you really need it or if it's just something you want in the moment.

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5. Prioritize Charity and Savings:

Make sure to focus on giving to others and saving money. The real spirit of Ramzan is about being generous. Set aside some money from your budget to help those in need and save for yourself. With fewer meals to cook, you can save that portion to go towards an emergency fund. This way, you're not only supporting good causes but also making a safety net for your money down the road.

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Use these tips for smart money management during Ramzan. Plan for Eid shopping, buy things thoughtfully, be cautious when shopping online, and wait before making extra purchases. Stay mindful with your money so you can enjoy Eid without financial worries. Have a wonderful Ramzan!

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