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Advice on saving up

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  • Kas1m
    replied
    Re: Advice on saving up

    I'm yet to do all this. I'm normally a very specific and micro management kinda guy so it would be fun to break down my expenses and do everything right and get my wife to follow the same trend.

    Leave a comment:


  • *sheba*
    replied
    Re: Advice on saving up

    Originally posted by F_R View Post
    :salams

    Any tips?
    i'm so bad when it comes to saving :( i told myself having a savings account and having an automatic transfer would help .....it didn't :-(

    i have 0 cents in my savings.....

    Leave a comment:


  • cooldog
    replied
    Re: Advice on saving up

    Make niyyah of doing hajj, best way to save for me. Dunno about women though...

    Leave a comment:


  • F_R
    replied
    Re: Advice on saving up

    Originally posted by Fairy View Post
    I have a feeling saving is not FR's problem

    its more her having guilt of having money just sitting in a bank
    Yea this ^

    But I've found a way to overcome this.

    ---

    I'll write up my spendings and stuff and then take on some of the suggestions

    Jazakumullahu khairan

    Leave a comment:


  • Fairy
    replied
    Re: Advice on saving up

    I have a feeling saving is not FR's problem

    its more her having guilt of having money just sitting in a bank

    Leave a comment:


  • Pippin1376
    replied
    Re: Advice on saving up

    Originally posted by F_R View Post
    :salams

    Any tips?
    :wswrwb:

    I've never had this problem, alhamdulillah.

    If you work, then at least you'll have some income coming in, but if you don't then you have nothing and you should be keeping track of where your money goes. Before you decide on whether you can do this, write down everything you bought for the past month and mention how much they cost. By the end of the month, you'll see how much (or little) money you're spending and you'll know where you stand on the saving department. Then, decide what you'd like to save your money on. Having a goal like this will help keep you motivated and save money.

    Then, make du'a.

    Leave a comment:


  • Fairy
    replied
    Re: Advice on saving up

    Originally posted by F_R View Post
    Gold an diamonds you mean?
    .
    Gold is a great investment as the price goes higher so you get more back when you sell

    muhahahahaa

    Leave a comment:


  • Fairy
    replied
    Re: Advice on saving up

    Originally posted by F_R View Post
    For example, the orphan home project (click me sig to see more) could benefit a lot more from it and need it more, there are people (little ones even) who are missing basic necessities and they could benefit from the money sitting in our bank accounts.
    ^ u give ur money to zakat every year dont you?

    as in all ur savings u count up n then give the amount to charity n then the usual monthly giving

    so in a way u have paid to charity for the money u have saved up

    ==

    also I have savings, but its for my wedding day (Allah knows best when that will happen haahha) n my future home, kids etc

    BUT I have told my fam if I die then make sure you use it wisely. but yea good idea about giving savings to charity after u die.

    thanks my gemmy gem

    Leave a comment:


  • samin62
    replied
    Re: Advice on saving up

    Originally posted by F_R View Post
    Gold an diamonds you mean?

    Yea I know, I've figured a way through this now alhamdulilah that way I don't feel bad.
    gold and silver bulion/coins, like the Islamic Currency (not jewellery)

    Leave a comment:


  • oshirowanen
    replied
    Re: Advice on saving up

    Originally posted by F_R View Post
    For example, the orphan home project (click me sig to see more) could benefit a lot more from it and need it more, there are people (little ones even) who are missing basic necessities and they could benefit from the money sitting in our bank accounts.

    Like that ^^. And then dying with money in yor account and the fear that those who get it (inherit it) will do bad with it etc. My belongings are mainly universal (even my clothes they can be benefitted from). I've lived like this for a while.

    I hope some of this is making sense.
    It makes perfect sense, so what you do is you save 10% and make that 10% work for you so you can give more to charity

    Plus, you will be giving 1% minimum to charity every month anyway which should ideally be increase to 10% eventually as you earn more from your investments.

    Leave a comment:


  • F_R
    replied
    Re: Advice on saving up

    Originally posted by samin62 View Post
    if you don't want to keep it in the bank, keep it as precious metals.

    savings doesn't mean you are keeping money away from others, it means you are going to benefit from it if your income is halted by Allah's Will
    Gold an diamonds you mean?

    Yea I know, I've figured a way through this now alhamdulilah that way I don't feel bad.

    Leave a comment:


  • oshirowanen
    replied
    Re: Advice on saving up

    Originally posted by F_R View Post
    if it's sitting in there then I know others could benefit if that makes sense.
    If you keep doing that, you will only ever be able to give a few hundred pounds to people who need it. But if you use your money as a tool to make more money, you can help a whole lot more people.

    Leave a comment:


  • F_R
    replied
    Re: Advice on saving up

    Originally posted by Fairy View Post
    what exactly is ur problem/issue with money?
    For example, the orphan home project (click me sig to see more) could benefit a lot more from it and need it more, there are people (little ones even) who are missing basic necessities and they could benefit from the money sitting in our bank accounts.

    Like that ^^. And then dying with money in yor account and the fear that those who get it (inherit it) will do bad with it etc. My belongings are mainly universal (even my clothes they can be benefitted from). I've lived like this for a while.

    I hope some of this is making sense.

    Leave a comment:


  • samin62
    replied
    Re: Advice on saving up

    if you don't want to keep it in the bank, keep it as precious metals.

    savings doesn't mean you are keeping money away from others, it means you are going to benefit from it if your income is halted by Allah's Will

    Leave a comment:


  • Fairy
    replied
    Re: Advice on saving up

    Originally posted by F_R View Post
    This is the thing, I'm not unable to manage my money however I feel uncomfortable leaving money in my account (not coz of theft or stuff like that) coz if it's sitting in there then I know others could benefit if that makes sense. But this might change coz I've figured something else out.

    I'm nt a spend freak or anything like that....well not on myself.

    Anyway keep the tips coming, I think I'm getting somewhere.
    what exactly is ur problem/issue with money?

    Leave a comment:

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