Personal Finance for Muslims
Do you ever say to yourself: “I really need to get rid of some stuff…”
You’re not alone.
Most of us have a dysfunctional relationship with our stuff. We buy more than we need, usually to fulfill some void that can’t be filled by stuff, and then we relegate that stuff to some corner of our homes and forget about it.
Ever go to the mall just for fun?
You wouldn’t be the first. The culture of shopping is something most of us grew up with… and therefore, don’t even think about.
What’s all this fuss about minimalism?
Do a quick Google search and you’ll find pages and pages of blogs dedicated to helping people live simpler lives.
What exactly is behind all the hype? In his week’s episode, we explore the practical benefits of deciding to live a simpler life.
The Prophet Muhammad ﷺ said:
”The worldly comforts are not for me. I am like a traveller, who takes a rest under a tree in the shade and then goes on his way.”
In Part 2 of the Sunnah of Minimalism, we take a closer look at how the Prophet ﷺ chose to engage with the world… and the lessons we can learn from the way he lived.
Is it wrong to have money?
As Muslims, we often find ourselves caught between two worlds. On one hand, the asceticism of the Prophet Muhammad ﷺ and his companions is legendary. And we know very well that they are the examples we ought to follow.
On the other hand, we have to work hard to establish ourselves, support our families, and strengthen our communities.
How do we strike a balance?
This week’s episode is a bit of a departure from our regularly scheduled programming.
The Rizqwise team was recently interview on Let the Quran Speak — a cable television show that airs on VisionTV in Canada (also available on YouTube)
Debt has a destructive past. Societies characterized by widespread levels of excessive indebtedness, with few exceptions, almost always imploded.
Whether it’s war, poverty, or good old fashioned pitchfork protesting — there’s no ignoring the real dangers of what can happen when debt levels spin out of control.
Getting out of debt is an important milestone. But if you’re not careful, the same habits that got you into debt can send you right back.
In this episode, we outline some practical steps to stay debt free for the rest of your life.
“I get worried about putting all of my savings into investments because of the recent history of the 2008 financial market meltdown and the Bernard Madoff investment scandal. I am kind of a hard core libertarian and I follow Ron Paul’s Liberty report. He keeps saying that our economy is going to go bankrupt because the federal reserve keeps printing money.”
So you’ve worked out a detailed plan to tackle your debt, you’ve circled your debt free date on the calendar, and you’ve begun putting your plan into motion.
Here’s the good news. You’ve officially done more than 99% of people who want to get out of debt, but fail to take the steps required to do so.
The bad news is you’re going to fail.
