Eid Bonus making you restless? Here’s what you should and shouldn’t do

By now, most of you have probably gotten a healthy dose of pre-Eid dopamine when you open your bank statement and see that your workplace has deposited its Eid Bonus. You are probably wondering when you can go to the market and buy that TV that has been making googly eyes at you, or pull the trigger on that fancy dress/trinket you have saved on Facebook from an online page. If you have a bad case of wanderlust, you are probably already looking up travel packages or tickets for your next adventure. "How did you just read my mind," you wonder? "Don't I deserve a reward for all my hard work," you might say. But the truth is, with the way things are now, it's best to think farther ahead than whatever it is you want right now.

Assuming you are not living under a rock, you know that because of the pandemic and the war in Europe, the world is a very uncertain place right now. As a result, everything is more expensive than it is, and companies everywhere are optimising hard. So, do not be too disheartened if your bonus ends up being less than it was in previous years. And that just means that whatever we discuss here will apply double for you.

Usually, the most common thing we end up doing is spending it on ourselves or our loved ones. We tend to be more careless because while our salary is already delegated to certain monthly costs, the bonus is technically free territory, meaning you can spend it on whatever you want.

For Eid-ul-Fitr, this usually means hitting the mall and buying the newest collection of clothes, shoes, perfumes, and other accessories you need to make you look like a movie star during Eid day. For others, it could be grabbing the electronics that had their heart and mind for the past year.

Travel is also quite big during Eid holidays, and some people simply go all out, planning multiple-day stays in fancy resorts. These are all short-term gain long-term loss expenses, especially considering the current climate.

Yes, you might get that mental peace and satisfaction you craved for working so hard, but this small relief might not be worth any potential long-term trouble that may find its way to you. Instead, consider doing these things.

Save up!

What a surprise that this is on the top of the list. Eid bonuses can be prime candidates to jumpstart your savings journey. And there are multiple options to choose from, starting with sanchayapatras, or Fixed Deposits. It's never too late to start, especially with the way the world is right now, it never hurts to save for a rainy day.

Also, keep a small amount at hand for the Eid holidays as well, because remember, if you are getting an Eid bonus, that means you are already in the workforce, and that means no more getting salamis; it's now your turn to give out instead, uncle/aunty!

Shopping smart

There are instances when you have to do some shopping and there is no getting around it. It could be to restock your wardrobe, but usually, the compulsory shopping that needs to happen is for gifts. These could be to very near dear loved ones, helping hands at home, perhaps your chauffeur, and so on. Good deals will be found in Pink City or JFP, so for all of the above purchases, head on down to Doza Market/Chandi Chawk. You will get similar quality for less than half of what it would cost in those complexes, so a big saving there. If you are not familiar with these places, get a friend to help out and you can make a day out of it. There will not be too many discounts on shoes from popular stores at this time but still keep a lookout.

Fuel for your soul

Quite possibly, the best thing you can do with this extra money is to make the world a better place for those without. Aside from your obligatory financial duties as a Muslim, there are some other things you can do to make a difference in someone else's life, which in turn, will bring prayers and good wishes for your actions.

• You can do Sadaqah during this month. Sadaqah is basically a voluntary charity done to please God.
• You can financially sponsor a child in need for a certain amount of time. This allows them to have an education, or be able to live and eat without hardship. There are set durations you can choose, but the important thing is your money will have helped someone's future.
• You could send gifts to children at an orphanage or madrasa, thereby bringing much-needed joy into the lives of those who have very little. It could be anything from toys to clothes, or even donate books.
• Sponsor a surgery/medicine for someone, especially for a life-changing but otherwise medically achievable situation.
• You can even donate your money to provide access to clean water in remote areas of the country. Access to clean drinking water remains a permanent struggle for many, especially in remote regions. Using part of your bonus to help solve this problem can be your productive and lasting contribution to society. This can be done privately, on an individual or group base, or by pledging whatever amount you can spare to one of the many organisations working to set up wells and water filters in the more remote areas.