Personal Finance Tips Part 1


Personal Finance is important and Islam encourages us to be frugal but not to be stingy. There is a difference. One attempts to not be wasteful while the other inflicts hardship on the perpetrator and the people living under his or her care.

How can you improve your personal finances? I will attempt to give you tips some of which might be a no-brainer. So let’s start.

1.Try to pay off any debt you have

This will help you save in the long run for any major purchases you have in mind for the future such as a nice vacation, a house, or a wedding (try not to overdo it with the wedding otherwise there won’t be baraqah in it).

2. Take advantage of free offers in your local areas

Many museums, libraries, and public parks have free events where you can relax and enjoy a nice day out with your family on the regular basis. Stay on the lookout for those. Many banks partner with retailers to offer you free food or free admission on events. Just inquire with your bank for these deals if you live in the West.

3. Set clear budget goals about your money and try to follow them

This can be hard to do if all the members of the family aren’t on the same wavelength. Try to plan as much as you can but remember that Allah is the best of planners and revisit your budgeting plans as things can change. We don’t see the future.

4. Make sure you sign up for a life insurance policy

They usually cost a few bucks per paycheck. Don’t dismiss it because tomorrow is not guaranteed. You want to leave your loved ones with ways to support themselves and not with a brick of debt.

5. Beware of identity theft

Make sure not to download apps that always ask for personal information. If your identity is stolen, it’s a costly affair to restore what’s yours for LIFE! Try to give alternate informations when you’re asked for your social security for instance. Nobody has the right to ask you that number except the government and your employer. For example, the hospital doesn’t need to know it. The retailers don’t need to know for a simple courtesy call or customer service question. They can search you by name, address, phone number, etc. What I’m trying to get at is share crucial information with less people. It minimizes your chance to become a victim of identity theft.

6. Be prepared before shopping

Check out different websites for items you want to buy before going into the stores. This will help you find the cheapest prices or ask for a price match. If you have a credit card and I won’t judge if you live in the West (especially in a non-Muslim country where fatwas differs on the allow-ability to use them ) try not to shop online with your debit card or real credit card. Many banks offer temporary numbers (for these cards you own)  you can generate for a single online transaction you want to make to protect your funds from hackers and thieves.

That’s it for today. Wassalam and see you next time for more tips on Personal Finance.


You can read more of my finance tips in our 13th issue of Hayati Magazine.


Papatia Feauxzar

Papatia Feauxzar is a practicing Accountant. She focused on personal finance in graduate school. She has a Master of Science in Accounting (MSA). Around the year, Feauxzar expatiate on personal finance and romance tips here and on her blogs. She is also the Online Editor of Hayati Magazine and the author of the first Ivorian Cookbook in English. Also a poet, you can read three of her pieces in "WOKE & LOUD: A Faith-Based Medley of Muslim Poetry & Spoken Word" published by Inked Resistance. Visit her at or .

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