:salam2:
I'd like to share a section of my book that inspired me on the title, Islamic Personal Finance: Grains of Wisdom on Prosperity from Al Quran. It's a book that focuses on general things of personal finance, not really Islamic law (i.e. Islamic finance). Just "grains" of hikmah that I felt could be applied to personal finance. I hope you will find it useful.
Upon entering college, my sister gave me an advice on which type of rice to purchase.
Jasmine rice.
She said it was the closest type of rice that our family eats. Throughout my college life, I specifically bought jasmine rice. Passing through the stacks and varieties of rice on display as I shop at an Asian market, I did not consider unit price or compare prices to other types of rice. Only jasmine rice. The considerations that did occur were prices between brands of jasmine rice and finding the cheapest. Over time, I developed a loyalty toward a certain brand that sells jasmine rice, and would prioritize the brand over others, regardless of price.
Only when money became very tight, I became adventurous. I saw a newspaper ad from a locally known low-price grocery store. Twenty pounds of long-grain rice for five dollars. Amazing. It was twenty dollars cheaper than jasmine. I bought it, went home on the bus carrying a 20 lb bag of rice, cooked it, and ate it.
Epiphany knocked on the door.
I realized that I had been buying the most expensive type of rice and that it didn't really matter to me what jasmine or long-grain rice tasted like.
Sometimes we have become accustomed to the decisions we make everyday based on what other’s recommended. Or we stick to a decision that we've made long ago, that we fail to stop and think how those decisions affect or its relevance to us financially.
This condition is not necessarily a bad thing. As parents, habits and traditions formed at home should be those that complement the financial goal of Muslims, prosperity. Habits formed early also become effortless and puts us in autopilot toward prosperity.
I'd like to share a section of my book that inspired me on the title, Islamic Personal Finance: Grains of Wisdom on Prosperity from Al Quran. It's a book that focuses on general things of personal finance, not really Islamic law (i.e. Islamic finance). Just "grains" of hikmah that I felt could be applied to personal finance. I hope you will find it useful.
Blindly Acting on Traditions
They answered, ‘No, but we have followed what our forefathers have done in the past.’ [Answered the people, when asked by Prophet Ibrahim if their statues (Gods) hear them and bring them any benefits or danger.]
26. Ash-Shu’araa’ (The Poets; 74)
Rather, they say, "Indeed, we found our fathers upon a religion, and we are in their footsteps [rightly] guided." | Just in the same way, whenever We sent a Warner before thee to any people, the wealthy ones among them said: "We found our fathers following a certain religion, and we will certainly follow in their footsteps."
43. Az-Zukhruf (The Ornaments of Gold; 22-23)
They answered, ‘No, but we have followed what our forefathers have done in the past.’ [Answered the people, when asked by Prophet Ibrahim if their statues (Gods) hear them and bring them any benefits or danger.]
26. Ash-Shu’araa’ (The Poets; 74)
Rather, they say, "Indeed, we found our fathers upon a religion, and we are in their footsteps [rightly] guided." | Just in the same way, whenever We sent a Warner before thee to any people, the wealthy ones among them said: "We found our fathers following a certain religion, and we will certainly follow in their footsteps."
43. Az-Zukhruf (The Ornaments of Gold; 22-23)
Upon entering college, my sister gave me an advice on which type of rice to purchase.
Jasmine rice.
She said it was the closest type of rice that our family eats. Throughout my college life, I specifically bought jasmine rice. Passing through the stacks and varieties of rice on display as I shop at an Asian market, I did not consider unit price or compare prices to other types of rice. Only jasmine rice. The considerations that did occur were prices between brands of jasmine rice and finding the cheapest. Over time, I developed a loyalty toward a certain brand that sells jasmine rice, and would prioritize the brand over others, regardless of price.
Only when money became very tight, I became adventurous. I saw a newspaper ad from a locally known low-price grocery store. Twenty pounds of long-grain rice for five dollars. Amazing. It was twenty dollars cheaper than jasmine. I bought it, went home on the bus carrying a 20 lb bag of rice, cooked it, and ate it.
Epiphany knocked on the door.
I realized that I had been buying the most expensive type of rice and that it didn't really matter to me what jasmine or long-grain rice tasted like.
Sometimes we have become accustomed to the decisions we make everyday based on what other’s recommended. Or we stick to a decision that we've made long ago, that we fail to stop and think how those decisions affect or its relevance to us financially.
This condition is not necessarily a bad thing. As parents, habits and traditions formed at home should be those that complement the financial goal of Muslims, prosperity. Habits formed early also become effortless and puts us in autopilot toward prosperity.
