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Ramadan and Eid Al Fitr in UAE: Don’t know hoe to manage finances and cut unnecessary expenses this holy month? We got you!

by Pushpanjali Nayak

April 13, 2023 28

Hey, party people! It’s that time of the year again – Ramadan and Eid Al Fitr are just around the corner! But wait, are you stressing about managing your finances and keeping your expenses in check during this holy month? Don’t worry, we’ve got your back!

As we all know, Ramadan is a month of spiritual reflection and self-discipline, where Muslims worldwide fast from sunrise to sunset. This month also calls for generosity and giving back to the community, as we celebrate Eid Al Fitr at the end of Ramadan.

However, it’s also a time when expenses can quickly add up, and without proper budgeting and planning, you might find yourself in a tight spot financially. But fear not, for we have some tips and tricks to help you navigate this holy month without breaking the bank.

First and foremost, it’s essential to have a budget in place. Take a look at your monthly income and expenses and see where you can make cuts. Allocate a specific amount for your groceries, iftar meals, and Eid shopping, and stick to it. It’s all about being mindful of your spending and not overspending on unnecessary items.

One way to save on groceries is to plan your meals ahead of time. Make a list of the items you need and stick to it while shopping. Avoid buying in bulk unless you know you’ll use the items before they expire. Also, try shopping during off-peak hours as supermarkets tend to be less crowded, which can lead to fewer impulse buys.

When it comes to iftar meals, it’s tempting to go all out and treat yourself to lavish feasts. But it’s essential to remember the true spirit of Ramadan, which is not about extravagance but rather simplicity and humility. Instead of dining out, why not try cooking at home? You can invite friends and family over for a potluck iftar, where everyone contributes a dish. This way, you can enjoy the company of your loved ones without overspending.

Another way to save on iftar meals is to opt for healthier options. Fresh fruits and vegetables are cheaper than processed foods and are better for your health. You can also try incorporating more vegetarian options into your meals, as meat tends to be more expensive.

Now, let’s talk about Eid shopping. It’s easy to get carried away and buy everything in sight, but this can quickly lead to a dent in your wallet. One way to save is to shop online, where you can compare prices and find deals. You can also wait for the end-of-season sales, where you can snag items at a discounted price.

If you’re planning on giving gifts to your loved ones, consider handmade items. These are not only unique but are also a more thoughtful gesture than store-bought items. You can make personalized cards, bake cookies, or even knit scarves. Not only will you save money, but your loved ones will appreciate the effort you put into their gifts.

Lastly, it’s essential to give back to the community during this holy month. There are several ways you can do this without breaking the bank. You can volunteer at a local charity or mosque, donate clothes or toys to those in need, or even offer to cook iftar meals for those less fortunate. The possibilities are endless, and any act of kindness, no matter how small, can make a significant difference.

Anam Noor, a Sharjah resident for over a decade, said she tries to be prudent by listing all the items that are required, and in what quantities. “This assures that I spend within my budget, whether it is Ramadan or not. Without planning and listing my needs, I’ll definitely surpass my budget,” she said.

How to cut unnecessary spending:

• Plan and budget
• Cook at home
• Avoid expensive meals
• Avoid ordering restaurant food
• Allocate budget meals, activities and gifts
• Look for deals/discounts for Eid gifts
• Compare prices across different stores
• Avoid Ramadan-themed decorations
• Avoid attending lavish Iftar parties
• Make shopping lists
• Avoid using credit cards
• Opt for prudent spending

Items where people spend more:

• Food
• Gifts
• Decorations
• Entertainment

In conclusion, Ramadan and Eid Al Fitr are a time for spiritual reflection, giving back, and spending time with loved ones. But it’s also essential to keep your finances in check and not overspend. By creating a budget, planning your meals, opting for healthier options, shopping smartly, and giving back to the community, you can navigate this holy month without any financial stress.