I have had many seniors who have requested me to write about the issue of extravagance during Eid, particularly from the perspective of humble pensioners. Since Sunday will likely be a day when most of us have completed our shopping for Eid, I thought it would be timely to address this issue early on. My hope is that some readers may take cognizance of this matter and spend wisely this Eid, especially considering the situation of lower bracket pensioners.
Eid al-Adha is a day that reminds us of obedience and humility. This is not an occasion for extravagance and lavish spending. We must understand that many of our pensioners fall into the lower bracket of the pension system. Their health needs, daily necessities and other requirements are met through their pensions. Allah sustains them through this pension, which acts as their financial security. In many cases, if they did not have this pension, they would have nothing else to support them.
It is the responsibility of family members, especially spouses, to understand the limited financial resources that pensioners have. Seniors feel a sense of satisfaction and support from their pensions. Therefore, families need to recognize that this limited pension must be spent within strict limits.
I obtained permission from one of our pensioners to quote him on this issue. He wrote, “Looking for advice for seniors on the eve of Eid al-Adha festival like Eid al-Fitr. Wastage is rampant by our better halves. Wallah, I am being put into depression while giving all my pension earnings towards home and they are making merry out of it while I could not even save it for my treatment or better medical advice……..”
This might be the plight of many of our seniors whose pensions are being wasted unnecessarily. We need to prioritize our spending, ensuring that health and well-being are the top priorities. Families must appreciate and understand the concerns of their seniors with limited pensions, allowing them to allocate their spending for their mental and physical well-being.
This principle applies not only to pensioners but also to seniors in the unorganized sector who earn from meager sources or rely on their past savings. These individuals often face financial instability and must manage their limited resources carefully. For them, prioritizing health and well-being over extravagance is crucial. Their modest earnings or savings are essential for covering daily necessities and medical expenses, making it vital for their families to support them in maintaining financial prudence.
Understanding the financial constraints faced by seniors, whether they are pensioners or earn from small, irregular incomes, helps in appreciating their need for a secure and healthy life. This is especially important during festive occasions like Eid, where the temptation for lavish spending can overshadow practical necessities.
Studies by the American Association of Retired Persons (AARP) frequently highlight the importance of financial stability for the overall wellbeing of seniors, indicating that financial security directly affects their mental and physical health.
Conducted by the University of Michigan, the Health and Retirement Study (HRS) consistently finds that financial stability is a significant predictor of positive health outcomes among retirees.
The World Health Organization (WHO) Report on Ageing and Health discusses that adequate financial resources are crucial for accessing healthcare, maintaining a healthy diet, and ensuring a good quality of life.
Financial security enhances the social and overall quality of life for seniors. It allows them to participate in social activities, travel, and engage in hobbies, which are crucial for maintaining social connections and overall happiness. Studies published in the Journal of Gerontology further illustrate that financial instability is linked to higher levels of stress, poorer health outcomes, and reduced life satisfaction.
Let us not forget that any form of extravagance on any occasion is strictly discouraged by our religion. Let us honour the true spirit of Eid, which emphasises sacrifice, humility and modesty and ensures that our seniors can lead comfortable and dignified lives.