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Budgeting in Islam PDF Print E-mail

Budget
Budget
One of the ways to ensure a sound financial status is to budget. Here are a few advises in this regard:

 

Moderation: One of the characteristics of the favoured servants of Allah is that they are those who, when they spend, are neither extravagant nor miserly. (Quraan 25:67)

And let not your hand be tied (like a miser) to your neck, nor stretch it forth to its utmost reach (like a spendthrift) so that you become blameworthy and in severe poverty. (Quraan 17:29)
 
Extravagance: Any spending on anything sinful, or overspending on allowed things which are wasteful is extravagance. (Ma’ariful Quraan 6:512)
 
Those who waste are termed the brothers of the Devil (Qur’aan 17:27)
 
When you eat, drink, give charity and wear clothes, let no extravagance or pride be mixed up with what you do. (Ibn Maja, Nasai)
 
Miserliness: Miserliness means not to spend in avenues where one is directed to spend. The hadith states: It is the sagacity of man to adopt the middle path in spending.
 
Another Hadith states: The person who sticks to the middle path and moderation in spending will never become a destitute and poor. (Imam Ahmed, Ibn Kathir)
 
The Prophet sallallahu alaihi wa sallam said: Every day two angels come down from Heaven ... (and one of them) says, 'O Allah! Destroy every miser'. (Bukhari)
 
There are two habits which are never present together in a believer: miserliness and bad manners. (Tirmidhi)
 
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