Wednesday, April 24, 2024
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Financial fasting: How to save money during Ramadhan

ANN/THE DAILY STAR – During Ramadhan, as families engage in self-discipline and sincere prayers, they also grapple with the interplay of spiritual commitment and financial obligations. This balance is especially demanding due to the added expenses of iftar delicacies, charitable contributions, and gift purchases. Manoeuvring through these financial challenges may appear daunting, but with prudent spending and strategic planning, saving during this sacred period is achievable. Hence, here are some practical methods to potentially save money this Ramadhan.

To begin your Ramadhan journey on an economical note, prioritise simplicity in your iftar and sahur arrangements. You should settle for breaking your fast at home, surrounded by the aroma of home-cooked meals and the warm company of your family and loved ones.

By embracing homemade items cooked from your own groceries, you can relish a satisfying meal. Consider this; if you had planned to dine out once a week for iftar or sahur in this Ramadhan, halving that frequency could translate to an instant BND15 saving.

Another related strategy is to purchase in bulk. Although saving nominal amounts may appear insignificant initially, the cumulative impact becomes apparent when purchasing in larger quantities. By remaining vigilant about prices, exploring various shops, and haggling whenever possible, you can save or more from groceries – a feat that requires effort but is certainly worth the effort.

An additional strategy worth considering is substituting costly products wherever possible, and being creative about it. Take, for instance, our beloved iftar rituals, which are often incomplete without the presence of fresh fruits. Here, you can significantly trim your expenses.

In summary, with careful planning and wise choices, saving this Ramadhan is feasible, even in these difficult times. While undoubtedly challenging, embracing frugality is seldom effortless. So, let’s seize this opportunity to redirect these savings towards charity and gifts for loved ones, ensuring a more meaningful celebration of Hari Raya Aidilfitri this year! – Abdullah Al Zobayer