{"id":5174,"date":"2013-02-04T11:15:56","date_gmt":"2013-02-04T11:15:56","guid":{"rendered":"https:\/\/productivemuslim.com\/?p=5174"},"modified":"2024-03-31T17:39:50","modified_gmt":"2024-04-01T00:39:50","slug":"muslimahs-guide-to-saving-smarter","status":"publish","type":"post","link":"https:\/\/productivemuslim.com\/muslimahs-guide-to-saving-smarter\/","title":{"rendered":"Muslimah’s Guide to Saving Smarter"},"content":{"rendered":"

\"Muslimah's<\/a>As a child, I remember my mother keeping a meticulous record of things she bought with the housekeeping money my father gave her. I often wondered why; and when I asked, she\u2019d say she needed to make hisaab,\u00a0or be accountable for the money she used. Since the money was\u00a0entrusted<\/strong>\u00a0to her\u00a0by my father, she had to use it responsibly.<\/em><\/p>\n

As I entered my teenage years, I thought the idea almost laughable \u2013 would\u00a0I<\/em><\/strong> be willing to keep track of every cent I spent? Then I became an adult, entered the corporate world and started earning my own money, and of course I look some ways to get the money I spend back and I found the Tail’s cashback app for Android users<\/a> that helped with this. Stark reality hit me like a bucket of ice cold water in the face on a cold winter\u2019s day!<\/p>\n

I gained a greater respect for the tedious system my mother had applied to our housekeeping finances during my childhood. I finally understood\u00a0it and much to my own amazement, I too, started keeping a\u00a0\u201chisaab kitaab\u201d (record book)\u00a0<\/em>of almost every cent I spent, though mine was the\u00a0new-age version<\/a>\u00a0in the form of an Excel spreadsheet.<\/p>\n

During my entrance into adulthood and my introduction to big, scary words such as\u00a0budgeting<\/em>,\u00a0accountability<\/em>\u00a0and\u00a0responsibility<\/em>, the method behind my mother\u2019s madness became evident \u2013 I had learned the\u00a0secrets to saving money\u00a0<\/a>and the art of spending it wisely.<\/p>\n

\u201cSaving\u201d, however, is a term not necessarily restricted to money and finance. There are many different avenues where you could potentially save.<\/strong>\u00a0If I had to sum up the lessons I\u2019ve learned over the years, it would come down to this:<\/p>\n

Use your wealth to your benefit<\/strong><\/h2>\n

So you\u2019re thinking Jimmy Choo\u2019s and Louis Vuitton handbags, shopping sprees in Paris, Milan and New York, right? Wrong!<\/p>\n

As a Muslim, it is our duty to acknowledge that whatever wealth we have been blessed with, is indeed a\u00a0blessing<\/em>\u00a0from Allah \"sub\u1e25\u0101nahu. Use your wealth to cater to your own needs and halaal (permissible) desires, but always remain mindful that Allah \"sub\u1e25\u0101nahu has given you a measure of wealth to test what you will do with it, whether you will hoard it selfishly or spend an amount for His pleasure:<\/p>\n

\u201cAnd spend of your substance in the cause of Allah, and make not your own hands contribute to (your) destruction; but do good; for Allah loveth those who do good<\/em>” [Qur’an: Chapter 2, Verse 195<\/a>].<\/p>\n

Don\u2019t be wasteful<\/strong><\/h2>\n

A visit to any restaurant or eatery presents the same scene: a family of four order enough food to feed a small army. The same thing happens in most of our homes. We\u2019ve become thoughtless in our disregard for the less fortunate; we\u2019ve become extravagant and wasteful without batting an eyelid. Many of us, myself included, go into shopping frenzies and literally “shop until we drop,” but my duaa for each of us is that we become aware of what we are spending, how much we are\u00a0wasting<\/a>\u00a0and what the consequences of our actions are.<\/p>\n

\u201cO children of Adam! Wear your beautiful apparel at every time and place of prayer: eat and drink, But waste not by excess, for Allah loveth not the wasters<\/em>\u201d [Qur’an: Chapter 7, Verse 31<\/a>].<\/p>\n

Thankfulness leads to untold treasures<\/strong><\/h2>\n

When a\u00a0person says \u201cAlhamdulillah<\/em>\u201d (All praises are due to Allah) for everything that he has been granted, Allah \"sub\u1e25\u0101nahu says:<\/p>\n

\u201cIf you are grateful I will grant you increase (in your bounties) and if you are ungrateful then verily my punishment is very severe<\/em>” [Qur’an: Chapter 14, Verse 7<\/a>].<\/p>\n

The message is simple:\u00a0give thanks<\/a>\u00a0to your Creator and you shall be rewarded in abundance,\u00a0In sha Allah<\/em>.<\/p>\n

Islam\u00a0is\u00a0a\u00a0practical\u00a0religion,\u00a0and\u00a0Allah \"sub\u1e25\u0101nahu has\u00a0made\u00a0it\u00a0easy\u00a0for\u00a0us\u00a0to\u00a0incorporate\u00a0our\u00a0religion\u00a0and\u00a0its\u00a0teachings,\u00a0into\u00a0our\u00a0daily\u00a0lives.\u00a0Now\u00a0<\/strong><\/p>\n

that\u00a0we\u00a0know\u00a0what\u00a0the\u00a0Qur\u2019an\u00a0and\u00a0Hadith\u00a0say\u00a0about\u00a0saving\u00a0and\u00a0wastefulness,\u00a0let\u2019s\u00a0look\u00a0at\u00a0some\u00a0<\/strong><\/p>\n

practical\u00a0tips\u00a0to\u00a0saving:<\/strong><\/p>\n

1. Know your money:\u00a0<\/strong>Sounds fairly simple but many people get caught in the trap of not knowing what their disposable income is.\u00a0It is important to know exactly how much you have so that you know how much to spend.<\/em><\/p>\n

2. Learn to save:\u00a0<\/strong>Ditch the credit cards if you can \u2013 spend cold, hard cash only, and my golden rule is\u00a0\u201c<\/em>If I can\u2019t afford it right now, then I probably don\u2019t need it right now<\/strong>\u201d<\/em>. This also serves as a motivation, so when I see a pair of heels that I really want, I cut back on some other luxury and save towards getting them!<\/p>\n

3. Beat the budget blues:\u00a0<\/strong>Sticking to a budget is an integral part of managing your family\u2019s finances effectively.\u00a0Cheating on your budget is cheating yourself.<\/em> Be honest when you reflect amounts (i.e. income and expenses) on your budget \u2013 you can\u2019t spend money you don\u2019t have! Also, be mindful of saving \u2013 remember to save something every month, for those \u2018rainy days\u2019. Read about investing in stocks for beginners at https:\/\/tradingoptionsforbeginners.medium.com\/the-best-options-trading-alert-services-and-products-2abe8f159795<\/a>. If you want to invest in alternative assets, you check your access to spacex stock<\/a>\u00a0to own a piece of the space race. You can hire a wealth manager from Vigilant Wealth Management to create a completely customized investment plan for you. This will show you how to manage your debt and help you determine when to buy or sell stocks. Find out why choose Vigilant<\/a> as your wealth management firm.<\/p>\n

4. Get street-smart:\u00a0<\/strong>Watch your local stores prices. Most stores have special offers from time to time \u2013 capitalize on these! They usually offer great savings and allow bulk purchasing. This means that you get more bang for your buck if you shop during these special offer promotions.<\/p>\n

5. Saucy secrets:\u00a0<\/strong>Most people claim NOT to eat leftovers. I beg to differ! Has anyone ever eaten\u00a0biryani<\/em>\u00a0the next day and complained?! If your family is fussy about food, prepare just enough for one meal. You might also want to consider using last night\u2019s left-over roast chicken for your kid\u2019s school sandwiches.<\/p>\n

6. Out of the closet:\u00a0<\/strong>Ladies, ladies… I know \u2013 this is a weak spot for most of us. Rule number one: if you haven\u2019t worn it in the past six months, it\u2019s highly unlikely that you\u2019re ever going to use it! Consider giving things that you don\u2019t use (that are still in good condition), to charity. And if you want to be really creative and make a quick buck, consider a jumble sale in your front yard.<\/p>\n

I\u00a0hope\u00a0these\u00a0tips\u00a0will\u00a0inspire\u00a0you\u00a0to\u00a0start\u00a0managing\u00a0your\u00a0money\u00a0smarter!\u00a0I\u00a0know\u00a0I\u00a0will\u00a0definitely\u00a0<\/em><\/strong><\/p>\n

be\u00a0\u201csaving\u201d\u00a0these\u00a0tips\u00a0and\u00a0taking\u00a0my\u00a0mother\u2019s\u00a0pearls\u00a0of\u00a0wisdom\u00a0with\u00a0me\u00a0to\u00a0my\u00a0own\u00a0home,\u00a0In sha Allah. If you have any other suggestions or ideas, please share them in the Comments section.<\/em><\/strong><\/p>\n

About the Author:<\/strong><\/p>\n

Faiza Dean<\/strong> is a vibrant young professional. Her field of specialization is adult learning, and she is employed as a Learning and Development Consultant for a multi-national company based in South Africa. She holds a BA in Applied Psychology, as well as qualifications in Project Management and Business Administration. One of her favourite pastimes is writing and she also enjoys reading about Islamic history. Faiza\u2019s motto is PURPOSE, <\/strong>and in an effort to fulfill her purpose, is actively involved in community upliftment projects and youth forums.<\/p>\n","protected":false},"excerpt":{"rendered":"

As a child, I remember my mother keeping a meticulous record of things she bought with the housekeeping money my father gave her. I often wondered why; and when I asked, she\u2019d say she needed to make hisaab,\u00a0or be accountable for the money she used. Since the money was\u00a0entrusted\u00a0to her\u00a0by my father, she had to<\/p>\nRead article<\/a>","protected":false},"author":23,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","_joinchat":[],"footnotes":""},"categories":[285],"tags":[116,392],"class_list":{"0":"post-5174","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-spiritual-productivity","7":"tag-management","8":"tag-money","9":"entry","10":"has-post-thumbnail"},"acf":[],"yoast_head":"\nMuslimah's Guide to Saving Smarter - 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