Kuala lumpur: Haj savings should be approached as a long-term financial commitment rather than a last-minute financial objective, according to economists. This perspective encourages a blend of financial discipline with spiritual preparation, promoting haj savings as a practical, measurable, and achievable New Year resolution.
According to BERNAMA News Agency, Prof Datuk Dr Nik Maheran Nik Muhammad, a professor of entrepreneurship and business at Universiti Malaysia Kelantan, emphasized the importance of life-cycle financial planning for haj, prioritizing discipline and consistency over short-term readiness. She advised young people to begin saving early in their careers, even in small amounts, to build a meaningful foundation over time.
She suggested that allocating as little as five per cent of net monthly income could significantly accumulate over the years. For instance, with a starting salary of RM3,000, setting aside five per cent monthly would result in RM150 saved each month. Over 20 years, without compounding, this would amount to RM36,000. With Tabung Haji's average dividend of about 3.0 per cent, the savings could grow to approximately RM51,000.
From an economic and Islamic finance standpoint, Nik Maheran noted that starting haj savings early is rational, even for those with modest or unstable incomes, as time eases future cost pressures. She highlighted the Islamic concept of istita'ah, or the ability to perform haj, as something developed gradually rather than instantly, which aligns with the principles of Maqasid Syariah by supporting the preservation of both faith and wealth.
Prof Emeritus Dr Barjoyai Bardai, from Al-Madinah International University, echoed these sentiments by framing haj savings as a lifelong journey rather than a mere financial goal. He stressed that viewing haj as a 10- to 20-year mission fosters material readiness, mental discipline, and spiritual preparation. Barjoyai advised against treating haj as a one-off financial project but rather as a journey of purification and responsible stewardship.
From an Islamic finance perspective, Barjoyai noted that syariah-compliant savings frameworks offer more than ethical assurance, with moderation (wasatiyyah) playing a central role. He cautioned against borrowing for haj and emphasized the importance of prioritizing family needs and basic obligations, while reducing impulsive spending to maintain financial stability and spiritual focus.
He also underscored the role of spiritual routines in reinforcing financial discipline, suggesting regular savings reviews combined with small acts of charity and renewed intention. Barjoyai highlighted periods such as Ramadan and Zulhijjah as opportunities to reassess savings commitments and recalibrate financial priorities.
These principles resonate with the experience of pharmacist Nur Azra Pauzi, who began her haj savings journey long before having concrete pilgrimage plans. Opening a Tabung Haji savings account at 25, she found that automatic salary deductions helped maintain her savings despite unexpected expenses. Nur Azra performed haj in 2023 and reflected on the sacrifices involved, affirming the journey's worth.