One of the things Prophet Muhammad would ask Gods protection from was the “yoke of debt.” Owing debt is like a yoke on your neck, a collar pulling you back and inhibiting your freedom. See Exhibit A.
Three things you can do right now to reduce your debt Read More »
You may not have a 401k plan or an IRA, but instead a more traditional pension. If this is the case, you are not alone, and like many other people are asking yourself:
Do I have to pay Zakat on my pension or retirement plans?
Zakat on Pension and Retirement Plans Read More »
If you are saying “I’m in college and broke!” You’re not alone. Remember, financial planning is still relevant to you, even if you are just getting by. Here’s 7 tips to help you plan your finances while studying.
Financial Planning Tips for College Students Read More »
If you own stock in a company (or shares as they are called) then to determine their liability for Zakat you should look at the investment strategy you are using.
Do I have to pay Zakat on my stocks and shares? “Deprecated” Read More »
They consider actions to be part of “birr,” “taqwa,” and “ihsan.” All of these are integral to a person’s salvation, although they did not describe this as “faith” because to them faith was a fixed position (believing in God, his angels, books, etc.) to be built upon with variable things like “taqwa,” “birr,” etc.
Hardly an Antidote: the Folly of Mustafa Aykol’s Comments on Irja’ and ISIS Read More »
So if you have a question about Mortgages, watch these videos first.
If you find that your question is not answered here, please leave a comment on this page and we’ll compile another video answering all those questions!
Question about Mortgages? Watch these videos first, then ask away in the comments! Read More »
Several people have asked about the opinion that Coffee was deemed impermissible at one time by scholars. This opinion, while presented with much fanfare, is a wholly inaccurate portrayal of not only normative Islamic legal positions, but of the scholars who contributed to the corpus of Islamic law, and how law is formed.
A note on “Coffee Fatwas” Read More »
Zakat is due on ANY surplus wealth. It must be more than the Nisab and is in your possession after one year passes. This includes: Savings accounts,
Do I pay Zakat on savings only or on my checking account too? Read More »
When deciding whether you should pay off your debt or save for later, you need to take into consideration something even more important: time. Through compounding, small contributions that you make now to your retirement or education funds grow significantly, allowing you enough latitude to do both simultaneously. If you are starting late in the game, you need to prioritize.
Should I pay off my debts or build my savings? Read More »
Who has to pay Zakat?
Zakat is due on the wealth of any Muslim, young or old, male or female, that is held in savings for one calendar year and is more than the Nisab.
Example: If both you and your children have separate savings of 1000 dollars or more for one year, you must pay the Zakat on both accounts, not just yours. $25 for your savings, and $25 for your childs.
20 Questions on Zakat: A quick and easy guide to understanding Zakat Read More »
