Take Care of Your Wealth Before Your Poverty

A deep piece of advice from Prophet Muhamad (s.a.w)

I know it's painful seeing so many Muslims trapped in poverty.

It hurts to see our brothers and sisters struggling while some in the ummah live in luxury. You may feel ashamed that we haven't done more to help lift them up. I get it.

But don't despair. There's still hope. Imagine if we renewed our understanding of wealth in Islam - seeking halal income, avoiding excess, and sharing with the needy. We could transform so many lives!

It won't be easy.

We'll have to make sacrifices. But together, we can alleviate poverty and fulfil our duty to uplift the ummah. Just imagine the rewards we could earn!

So, let's begin this journey. I want to inspire you to use your wealth wisely to avoid poverty and seek Allah's pleasure through generosity and justice.

Let's chase away this shame and take action!

In the last letter, I discussed the importance of prioritising your health before your illness as advised by the Prophet (s.a.w).

In this letter, I will focus on the advice about taking care of your wealth before you become poor.

Achieving Financial Well-being as a Muslim

Financial stability doesn't happen by chance.

It takes diligence to manage wealth, to grow it from nothing to something.

Anyone, with the permission of Allah, can attain financial well-being. But you must work hard at your profession or business using halal means. Earn through permitted sources, not prohibited or doubtful ones. Otherwise, there will be no difference between you and a rich person with no god-consciousness.

Whatever situation you are in today, you have all it takes to reach financial well-being. You only need to discover your ability and superpower.

And remember that how much you earn today will determine the quality of life you and your family will live, and the of your contributions to your community.

If you have no clue about your abilities, it's because you are not learning new skills from time to time.

The first step to financial well-being is developing a high-income skill. With a high-income skill, you can help people solve their problems and get paid a decent income for your help.

Learning a high-income skill opens up the opportunity to build up your wealth gradually and legitimately. As you build up your wealth, keep it from becoming your ultimate goal. Your wealth is a means to achieve more significant goals, the purpose for which Allah put you on this earth.

This means you must avoid being either miserly or excessive in your spending. Live within your means. Seek the middle path of moderation. Many are those who had abundance but lack today because they used to live above their means.

When you achieve your financial well-being, never forget that it is out of Allah's mercy that it became possible for you. Give Allah His due in the form of zakat on your wealth annually once your cumulative wealth reaches the nisab. It purifies your earnings when appropriately allocated. And consider adding voluntary sadaqah. Don't forget your relatives, too.

Investing surplus money in ethical businesses is also a wise move. Don't deal in usury-based accounts. Seek profits in a halal manner. Financial well-being is not a race to become the wealthiest man in the world. That game is none of your business. It is a dangerous path to greed.

Your need for financial well-being is born out of the need to plan ahead for significant future expenses like marriage, children's education, Hajj, or buying a home. Don't risk debt by living for the moment. Have forward thinking.

Build emergency savings to handle unexpected crises like job loss or health issues while you still have the job and strength of youth. Don't leave yourself financially vulnerable.

In all financial matters, make dua and rely entirely on Allah. Wealth comes only through His decree. Do your best and trust in Him.

Beware of getting caught up in materialism. Don't make money your whole purpose in life. Wealth alone cannot buy true happiness. Use your finances to benefit others, not only yourself. Share your blessings with needy brothers and sisters.

Seek balance between funding this life and the next. Invest for your future in this world and the hereafter.

Aim for financial well-being, not senseless accumulation.

Alleviating Poverty Through Entrepreneurship

Starting an Islamic business takes more than just a good idea.

It requires dedication to upholding ethical practices that benefit the community. When you have achieved your own financial well-being, your priority should be providing employment and quality goods, not solely chasing profits.

Offer fair wages so your staff can afford a decent life. Don't take advantage of workers just to cut costs. Treat them with dignity as brothers and sisters.

Ensure reasonable prices so everyone can access your products and services. Don't cater only to the wealthy few. Bring ease and convenience into people's lives.

Invest parts of your profits into programs that lift other Muslims out of poverty. Sponsor an orphan. Fund a school. Empower those without opportunity.

Do everything the halal way, avoiding haram means of earning money. Your wealth will have no blessings if founded on exploitation.

Life's tests come in running a business. Stay grounded in faith as you deal with challenges. Let Islam guide your decisions at every step.

Temptations of greed and vanity will emerge. Resist inflating your own salary and privileges. Remain modest in wealth and character.

With sincerity, Allah will put barakah in your efforts. Customers will flock to your business, and staff will be loyal. You'll reap rewards in this life and the next.

Choose entrepreneurship that makes a difference.

Helping Other Muslims Escape Poverty

One of your responsibilities as a Muslim is to support other Muslims, not leave your brothers and sisters trapped in poverty's grasp.

You can offer interest-free loans (qard hasan) to struggling Muslims trying to get back on their feet. And be lenient on repayment terms. You could have been in their position had Allah willed.

Many people are working ten times more than you do. Yet, they are making less than you do. It's not because they are not smart. It's Allah's decree. Be helpful to them.

You can help others by sponsoring the education of children from low-income families so they can lift themselves up through knowledge and high-income skill acquisition. Invest in their future.

You could also provide employment opportunities, vocational training, and internships for unskilled Muslims lacking work experience. Mentor them.

Constantly advocate for policies and programs that alleviate poverty in the Muslim community. Be a vocal champion for the oppressed. And Allah will be your support.

Another powerful way you could help fellow Muslims is to volunteer your time and skills to teach underprivileged Muslims valuable skills to earn halal income.

All you have to do is pass on what you have learned. Most underprivileged people are very intelligent. Often, they need only one person to believe in them and show them the way. They can handle the rest by themselves.

Some problems are better solved together with others. Collaborate with other Muslim entrepreneurs to launch poverty reduction initiatives. Uniting upon birr and taqwa is the spirit that characterised the first generation of this Ummah.

(Quran 5:2) ۘ وَتَعَاوَنُوا۟ عَلَى ٱلْبِرِّ وَٱلتَّقْوَىٰ ۖ وَلَا تَعَاوَنُوا۟ عَلَى ٱلْإِثْمِ وَٱلْعُدْوَٰنِ ۚ وَٱتَّقُوا۟ ٱللَّهَ ۖ إِنَّ ٱللَّهَ شَدِيدُ ٱلْعِقَابِ

Remind yourself regularly of the virtues of sadaqah and forgiveness of debt. Inspire others through your example. Help others gradually build up wealth so they don't depend on debt and begging.

Do not look down on those less fortunate or blame them harshly for their circumstances. Show empathy, not condemnation. Don't be like Qaruun. You need more than your intelligence and diligence to make you wealthy. Allah makes you wealthy.

Poverty often comes from structural factors outside one's control. Seek to understand why an individual is in poverty, then take action to uplift them.

Alleviating poverty brings immense spiritual rewards. Imagine the shade you'll enjoy on Judgment Day.

Help however you can, big or small. Together with other Muslims, you can eradicate poverty.

Remembering the Prophetic Guidance

The Prophet (s.a.w) outlined clear teachings on balancing wealth, work, and spirituality that we must recall.

He instructed us to provide for the marriage, housing, and transportation needs of employees and those serving the ummah.

So, offer benefits that facilitate marriage and family life. Allow flexible schedules for religious duties. Provide transportation allowance.

Al-Mustaorid bin Shaddad said he heard the Prophet (s.a.w) say:

Whoever is working for us, let’s ease it for him to get married (if he’s not yet married), if he has no maid, let’s ease it for him to have maid, if he doesn’t own a house, let us ease it for him to own a house. And Abu Bakr said: Whoever takes more than that he is a thief. (This is my summarised translation).

Don't burden workers with excessive hours that undermine their faith and health, especially on things you will not do yourself, or cannot do. Enable a balanced life.

The Prophet warned against greed by claiming more profits than you are due. Avoid taking advantage of workers' labour. And avoid paying workers less than they deserve even if they cannot negotiate to earn what they deserve.

Many people know what they deserve, but unfavourable economic conditions make them accept without arguing less than what they deserve. Taking advantage of this knowingly is cheating the servant of Allah. Remember, Allah fights for those who have no one to fight for them.

Desist from using the name of Allah to spiritually blackmail your workers into accepting less than they deserve while you earn more than you deserve. Using the term working fisebilillah to get what you want out of your staff is not only dishonest, it is wicked. Your staff have their families to take care of.

The prophet (s.a.w) forbade theft, deception, and exploitation in all forms. Conduct business with integrity and transparency.

Earn only through permitted means. Do not chase dollars over deen. Do not sell your soul for dollars. What good is wealth with no barakah? Don't sell barakah for money.

Never step on others in ambition. Consider your impact on people and the planet. Is it truly ethical? Don't forget, even if you can't see Allah, He sees you. And even if others don’t know, Allah knows.

Don't become so engrossed in material success that you neglect your spiritual well-being and obedience to Allah.

Wealth is a means, not the end goal. Use it wisely to draw nearer to your Creator. Maintain a humble disposition.

The Prophet (s.a.w) slept on a simple mat at times yet controlled all of Arabia. This is true zuhd and tawakkul.

Follow his illuminated example in all matters, big and small. Study the seerah. It provides the answers you need. But don't just read the lessons in seerah, or use them in your speeches to others. Commit to follow them yourself. You need it more than the people you preach to.

Let the Prophetic Way be your guide to wealth and life. Prosperity follows principles.

In Conclusion

This life is fleeting.

Your time is limited. How will you spend the days granted to you?

Will you choose the path of heedlessness, living only for vain material pleasures? Or will you walk the path of guidance, fulfilling your purpose?

The Prophet (s.a.w) outlined a clear framework for balancing wealth and spirituality. Embody his teachings.

Work diligently within the bounds of Shariah to attain financial stability. But never sell your faith for worldly gain.

Devote wealth to uplift others, not inflating the ego. Share bounties with the less fortunate and donate for the sake of Allah.

Uphold ethical dealings in business. Earn through permitted means. Avoid usury and exploitation of people.

Provide for the needs of employees, easing their lives. Enable them to fulfil religious duties. Share profits equitably.

Remember that Allah controls rizq. Have tawakkul alongside making efforts. Wealth comes through His decree.

Stay grounded in zuhd. Don't get trapped in materialism. This life is fleeting. The next is eternal.

Do heed the Prophet's advice on balancing wealth and spirituality. In this, is Success in both worlds.

Commit to helping fellow Muslims escape poverty. Together we can uplift the Ummah.

There is so much work to be done. Many great causes to dedicate wealth toward.

Imagine if the affluent came together, guided by faith, to transform the condition of the poor.

We can end so much suffering, ignorance, and hopelessness. Replace it with dignity, knowledge, and optimism.

This is the golden opportunity of our generation. Let us seize it before life passes by.

Time is short. Use the moments wisely. Your wealth before your poverty.

Teslim

The Muslimchangemker

P.S. In the next letter, I’ll share some ideas about Taking care of your free time before you get busy, part of the lofty advice of the prophet (s.a.w). It is also part of the Muslim operating system.

In the meantime, if you have been struggling with financial well-being and you need a roadmap that guides you on how to move from zero to 1 on your journey to financial well-being as a Muslim, then get your free access to the free LIFE Mastery course below. See you on the other end