Islamic Economics
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FIRE (Financial Independence, Retire Early) in Islamic Values
Gaining an Understanding of FIRE and It’s Significance Financial Independence and Early Retirement or FIRE is a movement that has gained popularity worldwide among professionals who want to break away from traditional work schedules. FIRE supporters strive to build up enough assets to cover living expenses by saving and investing heavily allowing them to retire well ahead of the conventional…
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The Importance of Having Multiple Sources of Income
Being isolated with one source of income is becoming more and more dangerous in the current economic environment. With only one paycheck maintaining financial security is more difficult due to inflation job instability economic shifts and unforeseen life events. As a result creating multiple revenue streams is now a necessity for financial survival and a means of achieving greater opportunities.…
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How to Avoid FOMO Spending
The psychological trigger known as FOMO or fear of missing out drives people to spend money in order to stay up with others trends or social expectations. Social media exacerbates this anxiety in the current digital era. People frequently make rash purchases in an attempt to feel included because they compare their lives to the carefully manicured highlight reels of…
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Pay Yourself First: The Urgency of Saving Before Spending
One idea that is particularly powerful and straightforward in the field of personal finance is “pay yourself first”. This strategy promotes putting money aside for savings as soon as you receive your paycheck—before you spend a dime. You save first and then live off of whats left over after expenses. It reverses the traditional budgeting approach and puts your financial…
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The Importance of Avoiding Consumer Debt
Consumer temptation is pervasive in todays world coming from social media advertisements, simple payment plans and a culture that values instant satisfaction. A lot of people have spending habits where their wants take precedence over their needs. One significant effect is the increase in consumer debt which is debt incurred to purchase goods or services that dont add value over…
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Hard Work and It’s Importance in Islam
In Islam, working hard is a spiritual obligation and a form of worship not just a practical necessity. Islam considers work to be a vital part of a believers life demonstrating self-worth accountability and a sincere attempt to pursue the pleasure of Allah ﷻ. If a Muslim is able to work they are encouraged to do so instead of depending…
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Building a Business: Don’t Confuse Test with Failure
Have you ever heard this phrase? “Maybe this is a test from God…” It usually comes up when a business is losing money, a project is failing, or a business is struggling. This statement isn’t wrong . But… if it’s used as a shield to avoid evaluation and improvement, it becomes a problem. We might end up covering our own…
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Sharia Business Facing Losses? Don’t Blame the Path!
“I’ve migrated, it’s already halal, but why is my business still making a loss?” We hear phrases like that all too often. You’ve probably even experienced it yourself: you’ve abandoned usury, upheld your contract, and made the intention to please Allah, but your goods still don’t sell, your cash flow is tight, and some even end up going bankrupt. Then…
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Cleanliness as the Foundation of Anti-Syubhat Investment
Have you ever felt FOMO after seeing your friends start investing in this or that? Some have seen their portfolios grow, some profit from sharia-compliant stocks, and some even just started but already look really cool. We’re tempted to follow suit. But have you ever stopped and asked yourself: “Is this really safe? Is this halal?” After all, in Islam,…
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Avoid Doubtful Investments, Align Wealth with Faith
Have you ever thought, what if money could talk? Imagine, on the Day of Judgment, every treasure that has ever come into our hands will testify before Allah ﷻ . It will say, “I came from this path… and then used it for that…” Everything will be clear. Nothing can be hidden. Money is more than just a medium of…
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