Unlike the Hajj, Umrah offers a little more flexibility for you to do throughout the year. However, it is important to plan and prepare for the cost of Umrah in advance.
The cost of Umrah is generally more affordable than that of Hajj, but it varies depending on the travel package you choose. Some travel companies offer additional packages with a longer travel duration.
Even though it is less expensive than Hajj, managing finances is still important for those planning to go to the Holy Land for Umrah. Find out more about the cost of Umrah and tips for managing finances below.
1. Determine Cost Target
Umrah costs can vary depending on the service provider and travel package you choose. To determine the required funds, you should research the cost of Umrah at various travel agents. Once you have an idea of the cost, you can start planning how long it will take to save the necessary funds.
2. Make a Monthly Allocation
Customers need to create a new financial post to fulfill this need. This post should be calculated properly to avoid affecting other financial needs. Ideally, customers should allocate between 10—20 percent of their income towards Umrah savings. The larger the allocation, the faster the target fund will be achieved.
3. Cut Down Expenses
To reach the target cost of Umrah, customers should consider cutting down on other expenses. They can temporarily reduce or eliminate their spending on shopping, hobbies, or leisure. Redirect these funds towards Umrah savings. After completing the Umrah pilgrimage, they can then return all these posts.
4. Get a Term Savings
Term savings are available if you are planning an Umrah or Hajj pilgrimage. Get a Tahapan Berjangka product from BCA to help you achieve the required funds. Your money can be automatically deposited into your term savings account to ensure that your savings don’t get mixed up with your daily expenses.
5. Earn More
To save up more, it’s important to tighten up your budget and minimize your expenses. However, you can also look for additional work opportunities to increase your monthly income. You can also consider trading to make a profit and add it to your Umrah savings.
6. Choose a Package that Suits Your Ability
While it’s tempting to choose the highest Umrah travel package, it’s important to avoid it if it impedes your ability to collect the required funds. Instead, choose a package that’s more affordable and fits your financial capabilities. Remember that there are still other needs that you’ll need to fulfill after performing Umrah.
That concludes the tips for collecting Umrah costs.
To help you manage your finances better, use myBCA, which can access all your BCA accounts in one app. There are also various features on myBCA to facilitate your other financial needs. If you don’t have the app, download myBCA now.