This post is also available in: Indonesia (Indonesian)

Armand Hammer says, “Money is my first, last, and only love.” Do you agree with him? Do you think carefully about your money? Do you always reach you financial goals? Do you plan and manage your money in the sake of Allah? 

Know that your money or wealth is an amanah, or a trust, that you have withheld from Allah Subhanahu Wa Ta’ala. First of all, you need to understand that Allah owns everything in this dunya(earth). He has given you money and wealth to test you. If you spend the money wisely, purify your wealth, and invest your money carefully, He will reward you in this dunya and akhirah (hereafter). He can also easily pull out all of your wealth in a very limited time. There are many cases where wealthy people can file bankruptcy in only a few days.

Know how much you are making, how much you are spending, and how much you owed.Secondly, you need to know how much money you make in a period of time. You can calculate your salary weekly, bi-weekly or monthly. Make sure that you spend about 50-60% for living expenses, 20-30% for paying off debts, 10-20% for investing or savings, and 2.5-10%% for purifying your wealth and helping others (zakat and sadaqah). Make sure you pay off all of your debts, such as home mortgages, auto loans, or credit card debts. It is narrated in Bukhari and Muslim that one of the dua’s the Prophet (saw) used to make at the end of every salah was seeking refuge in Allah from heavy debt. The longest verse (ayah) in the Quran is about debt. Prophet Muhammad says, “Whoever dies free from three things – arrogance, cheating and debt – will enter Paradise” (At-Tirmidhi).

Know how much is your “bottom line”. Is your life operating in positive or negative balance? If you subtract all of your income with all of your expenses and the “bottom line” is negative, you need to be careful. You may have some unnecessary spending. Check all of your expenses. Maybe you spent a big portion of money for something that you did not really need. If that was not the case, you might need to seek another source of income to increase your revenue. Make sure that you work harder and smarter. “No one ever eats any food better than that which he has earned with his own hands. The Prophet of Allaah Dawood (peace be upon him) ate that which he earned with his own hands,” says the Prophet (Al-Bukhari).

Also read: How To Purify Your Net Worth?

Know your financial advisers. You can hire a financial adviser to assist you in managing your personal finance. Make sure that you check his/her background or track record. A few financial advisers may have conflict of interests or bias to some financial products. You can check your financial advisers background and track record on or

Know your financial goals in a period of time. Stay on your plan to achieve your financial goals. Don’t let yourself stealing your own money by misusing your money. Be discipline! If your financial advisers tries to convince you to unusual “life time opportunities” and distract you from your goals, you need to be careful.

Always remember that your money is actually not yours. It is amanah that you withhold from Allah. It is not your money that will make you secure and safe. It is believe in Allah that will grant you security and safety. The more you give your wealth in the sake of Allah, the happier and more secure you will be.



This post is also available in: Indonesia (Indonesian)