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Top 5 Essential Qualities You Need to Become Money Smart

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Top 5 Essential Qualities You Need to Become Money Smart


Money Matters!

Or don’t you think so?

You have to deal with money in every aspect of your life – directly or indirectly.

From buying groceries to raising children; paying bills to running a business; paying for travel tickets to helping the needy.

But it isn’t enough just handling your finances in a random or routine manner from day to day.

Rather, it is important to handle money in such a way that it becomes a source of barakah and reward for you. Because the believer has a life that is always purpose driven, beyond this temporal world.

You can become money smart and achieve your financial goals through having the right knowledge and understanding of the basics of money.

Learn some money skills, aim for financial literacy and make your financial goals high for maximum benefit.

”But seek, through that which Allah has given you, the home of the Hereafter; and [yet], do not forget your share of the world. And do good as Allah has done good to you. And desire not corruption in the land. Indeed, Allah does not like corrupters.” (Al-Qasa 28: 77)

Below are the top 5 essential qualities you need to become money smart as a Muslim.

1. Earn Smart

It is a religious duty to seek lawful earning. Therefore, you can seek money through lawful trade and transactions; and enjoy such earnings within permissible limits.

The guiding principle to earning money as a believer is that it has to be through lawful means.

This is obviously a great jihad for you, so make it a worthy struggle.

When you seek only halaal money, you will earn smart.

2. Spend Smart

From the qualities of the money smart is having discipline to safeguard all of your financial duties and responsibilities.

So you need to budget for your needs and spend in moderation at all times.

Spend on worthy causes and avoid excess, wasteful spending. Make an effort to look for discounts and deals where available.

Avoid showing off and oppressing others with your money. And most importantly do not get consumed with splashing your money on the latest fads, trends and styles.

Always spend with reason and wisdom. And remember to be conscious of Allah (SWT) as you carry out your next transaction online or offline.

3. Save Smart

Dealing with money is a big test of your sincerity.

When you consider that how you interact with money is a form of personal worship, you will push yourself to save for worthy reasons. You will also focus on financial goals with huge rewards beyond fulfilling immediate needs.

For example, saving for Hajj and Umrah; for endowments; and for seeking/ spreading knowledge.

4. Donate Smart

One of the benefits of earning a form of livelihood is the opportunity of giving zakat and charity.

It is a form of purification for you and a means to assisting and empowering others. It will also free you from the shackles of greed and piling up of wealth without purpose.

These are all sources of great blessings and goodness in your life. And you must always remember that charity does not decrease wealth.

5. Borrow Smart

Ever been cash strapped?

Well, that’s part of life.

A time will come when you need to loan some money from family, friends or an institution.

Avoid interest (usury) and getting into agreements that are unlawful. Also put into consideration your financial state and other factors in your life before getting into any agreement.

Have a firm resolve to fulfil your promise of payment, consider your ability to repay on time and fulfil all other commitments relating to the contract.

When you decide on taking that loan, have consciousness of Allah (SWT) in whatever you do, say or write.

Get smart

There you go.

The top 5 essential qualities you need to become money smart. There is no doubt money matters, so…

1. Earn smart  2. Spend smart  3. Save smart  4. Donate smart  5. Borrow smart

Remember, the money you earn and spend is a gift from Allah (SWT) just as your health, family and intellect.

You should be thankful for these gifts.

And then find purposeful means of using them to seek goodness in this world as well as eternal rewards. Because nothing in the life of a believer is done without purpose.

Your actions as you strive towards your financial goals will be rewarded according to your intention. So keep them pure, positive and purposeful.

Are you money smart? In what ways do you deal with money purposefully? Please share below…



  1. Isah Shuaibu Nigeria April 26, 2016



  2. Sainab April 17, 2016

    Such wonderful advice. It’s so important to make sure it’s halal money we earn.

    1. Amina Edota April 19, 2016

      It is of paramount importance, since our earnings power most of our daily transactions.

  3. Hina April 16, 2016

    Great post mashallah. Just today my husband was talking about how his hrs in ramadan would br crazy but he doesnt care because hes earning halal rozee so it shouldn’t matter. Allah gives barakah in such houses where we earn and spend per His directives

    1. Amina Edota April 16, 2016

      Alhamdulillah for that special Rahma in your home. Not every home or person enjoys such. It is a blessing to be able to strive hard earning halaal – it makes the hard work worth it.

  4. Sara April 15, 2016

    This is a great topic and one that is not discussed enough in the Muslim context. I agree with all the points especially about avoiding interest. Too many Muslims are falling into the interest trap these days.
    Shariah-compliant investments are also great. We are lucky to have some in South Africa even though it’s not a Muslim country.

    1. Amina Edota April 15, 2016

      You are right, we need to get the right education and spread awareness among Muslims about the shariah-compliant options out there.

  5. Famidha April 15, 2016

    Assalamualaikum Sis, this is a very valuable lesson that should work as a reminder. I have worked most of my life and have done my best with some of the factors listed here. Now being stay-at-home wife, I help my hubby by shopping only things I really require. Also I maintain a excel sheet which helps me give him a figure of average monthly expense. This is just my way help him save.

    1. Amina Edota April 15, 2016

      Masha Allah… that’s a brilliant ~ you being the accountant for your home. And also being on top of the monthly spending. We need more homes like yours.

  6. Afreen Zia April 15, 2016

    Very helpful money tips..Really smart qualities…

  7. Umm johar April 15, 2016

    Salaam! What an insightful post Masha’Allah. Great reminders! I know I don’t always think of Allah as I spend my money, but because of your post I will insha’Allah think of Allah before spending anything online or offkine. Jzk for the reminders sister. May Allah bless you!

  8. I love the way you wrote this, it shows us how important it is for the youth to think smart and hard! 🙂

  9. Irum April 15, 2016

    Very well pointed 🙂 I love the verses from the Quran which you have highlighted. I always find it complicated to deal with money issues. But will keep these points in mind here on. In sha Allah

  10. Said April 11, 2016

    Great Smart Money Tips. I would add the sixth one. Invest smart. But I am weak at following this tip. I am a College student who fully depends on family and sponsor financially. I mismanage the little money I get. I don’t save smart to invest in my personal growth. For instance I wanted to take a Nanodegree course and receive your mentorahip but since I didn’t
    saved any of the little money I receive, I couldn’t afford any of them. They are too expensive for students in developing countries who spend the little money they get for their basic needs like food, rent, transport, health, etc. Though in sha Allah I hope I will be able to afford sooner or later.
    Investing for personal growth and in halaal stock, in real estates and in new business ventures are some of my dreams.

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