First time receiving THR? Learn how to manage it and ensure safe transactions! | Bahasa

Indonesia, 27 Mar 2025 - As Eid al-Fitr (Lebaran) approaches, Indonesians not only celebrate the moment of togetherness but also receive Tunjangan Hari Raya (THR) as additional income to prepare for various needs ahead of the holiday. Jakpat's research in 2024 found that in addition to salaries, 59 percent of respondents rely on THR to fulfill their needs during the month of Ramadan. Moreover, 3 out of 4 respondents admitted that during Ramadhan 2024, they spent most of their income on daily needs, especially food. 80 percent of them also paid zakat. There were other extra expenses such as for breaking the fast gatherings (bukber), trips to hometowns (mudik), buying new clothes, and hampers for relatives.


For young professionals starting their careers, getting their first ever THR surely is an exciting experience. That said, make sure not to get too carried away and spend recklessly! Instead, take this opportunity to familiarise ourselves with better financial planning in the future while still celebrating the fruits of our hard work in the holy month.


At a loss on how to allocate your THR wisely? Don't worry, Bank DBS Indonesia is here with a series of tips for you! 1. Recalculate total monthly expenses

In the midst of global economic uncertainty and rising costs of living, it is important for us to be more careful in managing our finances to remain stable and to be ready for future needs. Therefore, before spending your THR, it is important to have a clear picture of your current financial condition.

Recalculate all monthly expenses, including basic needs such as food, transportation, rent, and installments. Remember to also calculate expenses that are often overlooked, such as app subscriptions, donations, or unexpected expenses. To make it easier, use the automatic expense recap feature in digital banking applications that make it easier to record and analyse your finances.

2. Create a budget for zakat and primary needs

Once you have a complete understanding of your financial situation, you can then allocate your THR for various purposes. First of all, prioritise essentials such as zakat fitrah (zakat al-fitr). In general, the amount of zakat fitrah is equivalent to 2.5 kg of the staple food that is usually consumed. Zakat fitrah can also be paid in equivalent amount in cash. By paying zakat fitrah, you share your blessings with those in need and have a right to it.

Once you have set aside a sum for zakat fitrah, you can allocate the THR for other needs such as homecoming expenses, THR for family, and shopping for Lebaran needs. Use the 50/30/20 method for budgeting: 50 percent for basic needs, 30 percent for an emergency fund, debt payment, savings, and investment, and 20 percent for wants such as new clothes and Eid hampers.


Some of the tips you can follow to cut down expenses include booking homecoming tickets early to get lower prices, making use of free homecoming programmes organised by various parties, and setting a ceiling on the consumption budget, especially for bukber, an Indonesian tradition.


If THR is not enough, it's time to be more selective in terms of spending and be creative to increase income. The fasting month opens up many business opportunities such as taking cake orders, selling clothes, or other businesses. With good planning, THR can be spent optimally without causing financial distress in the future.


For digibank by DBS customers, expense categorisation is made easier with the Dompet Maxi feature. This feature allows you to group savings funds for different financial goals, and provides flexibility in managing finances more regularly according to need. In addition, through the digibank by DBS app, customers can manage, monitor finances, block or activate credit and debit cards, make zero-fee transfers, transact efficiently using QRIS, top up e-wallets, and pay bills, all in one application.


3. Pay off existing debts


One of the things to remember in managing your THR is controlling and paying off debt. One strategy you can use is the snowball method. The method involves paying off smaller debts first while making the minimum payments on the rest of your accounts. Once the smallest debt is paid off, you can start paying off the second smallest debt while continuing to make minimum monthly payments on all debts. This way, you'll be more motivated to stick to your debt repayment plan.


To help you manage your expenses more flexibly, you can use the digibank Pay Later feature on your digibank Credit Card that offers easy installments of up to 60 months for purchases anywhere and anytime. With this feature, you can shop and set a payment schedule to maintain a healthy cash flow.


But, remember to pay your bills on time to avoid accumulating debt because when your debt accumulates, your financial growth risks being hindered. In the long run, exercising discipline in debt repayment can build good habits in your life.


4. Set up an emergency fund and invest for your future


Recording expenses: done, budgeting: done, paying off debt: done. After that, it's a good idea to set aside a portion of your THR for your emergency fund, especially after the huge Lebaran spending. As mentioned above, ideally, you should set aside 30 percent of your THR and income for an emergency fund. Also, consider investing a portion of your THR in financial assets such as mutual funds or bonds to increase its value in the future.

To that end, Bank DBS Indonesia also provides easy access to investing on the digibank by DBS application. Currently, Bank DBS Indonesia offers 70+ Mutual Fund products with investments starting from Rp100,000 and 130+ Bond products with a minimum investment of Rp1 million. All these products can be bought, sold, and switched online 24/7. Make use of these products so you can make money now and in the future!

In addition to ensuring sufficient investment and emergency funds, personal protection is equally important, especially in daily life and during homecoming trips in the Lebaran holiday season. This is where insurance plays a role in providing peace and security.


Understanding this need, Bank DBS Indonesia, together with Manulife Indonesia, presents various protection solutions for every stage of life, from comprehensive life protection and legacy planning for loved ones (MiTreasure Whole Life Legacy & MiWealth Infinite Insurance), health protection with global coverage (MiUltimate Health Care), to comprehensive protection against the risk of critical illness (MiUltimate Critical Care). With insurance, there is a sense of comfort in the present because a safe future is guaranteed!


For those of you traveling during Lebaran, make use of Chubb Smart Travel Shield  that offers comprehensive protection for your health and the safety of your belongings. With the right protection, homecoming and return trips will be a breeze!

Hold on! You can also allocate your investment to develop skills that will benefit you in the long run. For those of you who are working part-time, freelancing, or just starting out, use your THR to attend workshops or classes that can support your career, such as writing workshops, digital marketing, or financial literacy classes, so that you can manage your assets cleverly.


5. Often overlooked but equally important: secure your transactions

Throughout Ramadan and Lebaran, we scan QRIS codes countless times when buying food, topping up e-wallet balances to go to bukber gatherings, paying online shopping bills using virtual accounts, and swiping debit cards when buying new clothes.


Amidst the increasing frequency of transactions, transaction security should always be a priority. In addition to transactions related to Ramadan and Lebaran, this period also coincides with the deadline for annual tax reporting, on March 31, 2025. Be careful because cybercrime is very risky at times like this!


To avoid the risk of financial fraud, it is important to remain vigilant and apply protective measures when making transactions. You can do this by, among other things, avoiding sharing your PIN, OTP, or personal data; be aware of scams that impersonate of banks, the Directorate General of Taxes (DGT), or prize scams; and utilising security features of digital banking for safer transactions.


Bank DBS Indonesia believes that enjoying Ramadan and Lebaran with peace of mind starts with good financial planning. PT Bank DBS Indonesia's Consumer Banking Director Melfrida Gultom said, “The holy month of Ramadan and Lebaran is a moment that most Indonesians look forward to. Of course, spending time with family and closest relatives with meaning at this momentum is what we all want. However, without proper financial planning, the financial situation after the holiday period ends can be a challenge.”


“Therefore, Bank DBS Indonesia continues to educate customers so that they can spend THR and manage their finances wisely. This is complemented by various banking solutions that are easy, safe and efficient to simplify daily planning and transactions. In this way, customers can spend time meaningfully, without the hassle of banking or 'Live more, Bank less',” Melfrida concluded.


In terms of security, Bank DBS Indonesia has also implemented two-factor authentication (2FA) and the Know Your Customer (KYC) technology by utilising face recognition features that are directly integrated with Dukcapil, ensuring that customer data used to open an account is authentic.


You are now equipped with tips for managing your THR and ensuring transaction security. So, happy holidays and remember to follow the tips above!

 
About DBS


DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.


Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 16 consecutive years from 2009 to 2024.


DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.


Established in 1989 as part of the Singapore-based DBS Group, PT Bank DBS Indonesia (Bank DBS Indonesia) is one of the banks with the longest history in Asia. Currently operating 1 Head Office, 13 Branch Offices, 16 Assistant Offices and 4 Functional Offices and 3,011 active employees in 15 Major Cities in Indonesia, Bank DBS Indonesia provides comprehensive banking services that focus on the customer experience to 'Live more, Bank less'. We also see a purpose beyond banking and are committed to supporting our customers, employees, and the community towards a sustainable future.



PT Bank DBS Indonesia is licensed and supervised by The Indonesian Financial Services Authority (OJK), and an insured member of Indonesia Deposit Insurance Corporation (LPS).


DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.


With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.