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Financial freedom meaning8/15/2023 ![]() ![]() These values will help us make conscious decisions regarding our financial and career choices. To walk down the path to financial success, we first need to think about what our values are. Part of having financial success is to understand the reasons, the why behind our efforts. These basic rules are as follows: Memorialize Your Values These rules are compiled by Joe Bradford, an American Muslim scholar who graduated from the Islamic University of Madinah and specializes on Islamic finance. However, there are several basic principles that we can adopt as we work to achieve financial freedom and success. You can do it by creating saving accounts, investing, getting a financial advisor, etc. There are many tips that you can follow in order to help you achieve financial freedom. ![]() 7 Basic Rules You Can Apply for Financial Success Instead, when we work for financial freedom, make a firm and clear intention that we do it solely to increase our good deeds and to seek means for Allah’s pleasure. This does not mean that we have to wait until we are extremely wealthy to do acts of worship and kindness. In addition, he was also known to have donated his wealth to support the Prophet’s military expedition and gave away his goods to the people of Madinah who were famine-stricken.įrom this example, we can learn that the purpose of wealth in Islam is to facilitate us in our worship and in helping others. One of the examples of his generosity is when he bought a water well, known as the Well of Roumah, from a Jew to provide clean water for the Prophet’s Companions. In addition, he was also known for his generosity. The Prophet ﷺ’s Companion and son-in-law Uthman bin Affan, for instance, was among the companions that were wealthy. How can we do this? The Prophet (ﷺ)’s Companions have exemplified how the abundant wealth they had never distracted them from a life of worship and obedience to Allah. Instead, we must make the correct intention by making Allah’s pleasure the ultimate goal. What we should avoid is making money or wealth the center of our attention. And whoever makes the world his goal, Allah puts his poverty right before his eyes, and disorganizes his affairs, and the world does not come to him, except what has been decreed for him.” (Tirmidhi).ĭoes this mean that Islam discourage seeking money and riches? Not at all. “Whoever makes the Hereafter his goal, Allah makes his heart rich, and organizes his affairs, and the world comes to him whether it wants to or not. ![]() In a hadith narrated by Anas bin Malik, the Prophet ﷺ said: In fact, Prophet Muhammad ﷺ said in a hadith that our peace of mind can only be achieved by setting our goal for the hereafter. But do we really need to base our peace of mind on our abundant wealth? No. Kiyosaki explained, financial freedom is freedom from fear. Should our peace of mind depend on abundant wealth?Īs Robert T. In terms of achieving financial independence, we must use Islamic values as a compass to guide us to reach our aims. Because of this, we have to adjust our goals with the values which Allah has taught us. However, we are told to live our life to worship Allah and to be the stewards ( khalifah) of Allah on this earth. Islam teaches us not to lead an austere, monastic life by turning our back on this world. But for us Muslims, there is another point to note. Such a freedom allows you to retire or pursue any career of your choice without worrying about the need to make money.ĭoes this sound appealing? Yes. ![]() In short, financial freedom is about having sufficient wealth that enables you to get all of your needs met for the rest of your life without having to be employed or dependent on others. 7 Basic Rules You Can Apply for Financial Successīefore we dive deeper into the issue of financial freedom, first, we must understand the definition of financial freedom.Should our peace of mind depend on abundant wealth?. ![]()
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