Many people run into problems in life because they do not manage their finances correctly. The basic concepts of managing money are not taught at school. Many parents also do not teach them to their children at family level. There is an assumption that these things will be learnt automatically through the course of life. However, the reality is that many people live their lives without learning them. This book has been compiled to explain the basic principles of developing healthy financial habits. These principles should assist anyone dealing with money on a personal level. They will be of particular benefit to those who are in debt or who have problems controlling money. It is important to remember that practicing on these principles should be a life-long endeavour. The path towards becoming debt-free may take months and even years.
The book is divided into 5 parts. Part 1 deals with 25 basic principles of managing money. Part 2 deals with methods to derive barakah in one’s earnings. Part 3 discusses some commonly encountered financial scenarios. Part 4 is a brief study of the financial life of a wealthy Sahabi, Abdur Rahmaan ibn Awf (Radhi Allahu Anhu). Part 5 has stories of some real life incidents in the modern world of money and business.
Nabi Sallallahu Alaihi Wasallam said:
الاقتصاد في النفقة نصف المعيشة
“Moderation in spending is half of sustenance.”
-Shu’abul Imaan ~