The month of Ramadan 2020 is coming. However, the Covid 19 (corona virus) still surrounds Indonesian people. In fact, the East Java region itself, especially Surabaya, Gresik, and Sidoarjo have already given a signal to immediately impose Large-Scale Social Restrictions (PSBB). The decisions made will certainly have an impact on various sectors, starting from the economy, education, religion, culture, and so on. For the economic sector, careful financial planning is needed before the month of Ramadan 2020. So, what are the tips for managing finances ahead of Ramadan in the midst of the Covid 19 Pandemic?

Lecturer at STIE Perbanas Surabaya, Meliza Silvi., SE., M.Sc., CFP, AWP., Shared tips on planning finances well. When doing Stay at Home activities, Meliza also works from home. Another important thing that needs to be done, he invited to be wise in managing finances ahead of Ramadan when the Covid-19 outbreak was taking place.

"Some time ago, we saw people who panicked and made excessive purchases or panic buying. The problem is that panic buying makes spending more wasteful, prices for basic necessities go up, and goods are difficult to obtain, "he explained.

This lecturer in finance shared tips that can be applied to organize finances for Ramadan 2020. First, re-evaluate monthly expenses. According to him, everyone needs to record monthly expenses and mark unnecessary needs, for example for lifestyle, such as buying clothes, hanging out, vacations, going to the mall, and others. "The allocation of funds for these expenses can be minimized as much as possible," he explained.

Second, determine the priority scale of spending. Meliza said, prioritizing existing funds for basic needs, food, clothing and shelter. Primarily the availability of food or foodstuffs that must be available at home, such as rice, eggs, dry food, frozen processed food, vegetables and fruits. All of that, for daily needs and preparation for entering the month of Ramadan. "Personal care needs such as toiletries, cleaning equipment, and light free medicines. However, don't panic buying, just buy what you need, "he added.

Third, reallocation of the evaluation results budget and prioritizing health needs. This means that in conditions like this, maintaining health is something that should be prioritized by anyone. It would be wise to divert some of the funds (budget reallocation) for health purposes. You do this, by buying multivitamin products, intake of nutritious foods, masks, handsanitizers, or antiseptic soap in moderation and not excessive. Finally, prepare an emergency fund that can be used to cover extra expenses. "If you do not have an emergency fund, you should not use future funds or posts that are also prepared," he said.

Meliza also suggested that everyone should check the funds and savings that everyone has. Then, they can estimate the adequacy of funds to survive the next 2-4 months. "If in doubt, we can start considering selling or pawning some of our assets, such as jewelry or other liquid assets. Our current condition requires sufficient emergency funds. Hopefully we are still enthusiastic about welcoming Ramadan, to worship at home, gather with family and don't forget to always take care of our health wherever you are, "he concluded.(eko/hms)