Economist: Ramadan and Eid expenses disrupt families’ budgets

An economic analyst, a faculty member at the University of Jeddah, Professor Salem Bajaja, called for reducing unnecessary expenses in the current period, noting that Ramadan and Shawwal are among the most months of the year in which financial expenses increase due to the requirements of the holy month and Eid al-Fitr, which leads to financial imbalances, and advised By purchasing the needs of food and drink for a period that is sufficient for a week only and preparing a list of needs before going shopping and making sure that food is prepared at home to ensure that money is not wasted in purchasing daily needs due to the high cost of buying from restaurants, and he called for saving the rest of the food of the previous days and eating it later,

In honor of preserving grace and making sure to set a budget for the holy month, he also called for accustoming family members to collective eating with each other, noting that not legalizing my salaries for the months of Shaban and Ramadan may put the individual in a problem of imbalance during the month of Shawwal, and calls him the need to borrow from others, so The salaries of the two months should be given a lot of importance as they relate to privacy, occasions, banquets, and so on.

He advised credit card holders to deal well with them so that financial burdens do not accumulate due to the benefits that result from regularly delaying paying their bills. The payment date is at least a full day before the due date, so that it does not entail new interests, and you should avoid withdrawing cash from the card, because the interest rates on it are equivalent to four times the interest on purchases, and pay the entire amount used from the card, and the minimum payment rate is not satisfied Because the benefits will be on the remaining 95%, and avoid using more than one credit card, regardless of the salary.