Can I make money on currency exchanges? For example, I deposited 100 USD (which was almost the same as $100 CAD) in my US account in 2013. If I were to get them converted to CAD now, I’ll get $130 – i.e. I “earned” $30 due to currency exchange.
017 – Why You Should Never Sell Your Investments
If trading stocks for fun isn’t the path to creating wealth — what is?
The reason people confuse trading with investing is because trading is easier to understand. Buy when they’re low and sell when they’re high.
Simple enough, right?
016 – Ask Rizqwise: How can I stop living beyond my means?
“Budgeting is difficult for me is because I don’t have a steady income, it’s either more than I need or more often less than I need every month. So I am always struggling to make ends meet. According to the 50/30/20 rule I think I am spending 95% of my income on necessities. And when I cannot meet those ends I tend to borrow and as of today I am not comfortable with the debt I am in. What is your advice for me?”
015 – The Difference Between Investing and Trading
Investing is about buying and selling stocks, right? Buy low, sell high — how much more could there be to it?
The financial media, and Hollywood, would lead you to believe that picking the right stocks and timing the market is the path to building wealth. If Warren Buffett did it — why can’t you?
014 – Ask Rizqwise: Isn’t compound interest haram?
“I subscribed to this podcast thinking it would provide a good opportunity to learn about how to manage and invest money in an Islamic manner, that is: what to invest in, what to stay away from, etc. All of the tips, however, are geared towards an un Islamic financial system. Take the compounding example for instance. You mention that it can apply to non-interest bearing investments, but give no example of how that is possible in the actual podcast.”
013 – The Only Two Investments that Actually Make Money
Is your house an investment? What about education? Is that an investment?
In this episode, we’re going to take back the word investing and clarify, once and for all, what an investment actually is — and what it’s not.
012 – Ask Rizqwise: Should I invest on my own or hire a professional?
“Should I invest with a large investment firm or learn to invest in stocks on my own? I am not confident in the latter but don’t feel like being duped by the former.”
011 – Why Your Money Loses Value Every Single Day
We’ve got some bad news for you.
You know that money you have sitting in the bank? The money you worked really hard to earn?
Tomorrow, it’s going to be worth less than it is today. And the day after that, it’ll be worth even less.
Eventually as the days, months, and years pass — if it stays in the bank — it’ll eventually become worthless (dramatization).
010 – Ask Rizqwise: Should I buy or rent a house?
I’m getting married and we recently started discussing joint finances. I’ll probably be the sole income for the first few years while she pays off her student loans. We’ve been having a discussion about renting/owning a place to live. She’d like to rent, but I don’t know, I feel like it’s throwing away money. And if I can earn enough for a downpayment before we get married, wouldn’t it just make sense to put that money into owning a place to live?
009 – Three Reasons Why Budgets Fail
Why do budgets fail? Despite the best of intentions, there are 3 very common mistakes people tend to make when going through the budgets process. Learn how to avoid these mistakes and you’ll do better than 99% of people.