Islamic Personal Financial Planning Resources

ASA.

Years ago, after learning FPU principles and reading "The Millionaire Next Door", I have always been curious about the net worth of others.

And today, I was reading an interesting article on "Comparing net worth has become an obsession for people like Joey Kincer" by "Telling the world how much you're worth":

http://finance.yahoo.com/banking-budgeting/article/109545/net-worth-obsession?mod=bb-debtmanagement

What is your NetworthIQ?:
https://www.networthiq.com/

We are a Forex Trading Company, with an impeccable track record in our managed account section. i have 8 years experience in the field, and earns his customers an average of 15% and 40% profit PER MONTH consistently, month after month.*

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Zay's Capitals
Forex Risk Manager

Cell Tel.: +92-332-3599048
Email: fashion125@yahoo.com

ASA,

Article about a new book by Dr. Thomas J. Stanely:

http://tinyurl.com/yhdln3k

http://www.thomasjstanley.com/

JAK
ASA
Ayesha

Hello I am a revert to islam. I am farely knowledgable about islam and it's teachings but am by no means an expert. I feel that I am burried by debt and would like to learn how to make appropriate lifestyle, spending, and budgeting changes in my life. I would appreciate any info that you could give me that would help in this cause (budgeting worksheets, advise, etc.

Dear Brothers & Sisters

Assalam o alaikkum.

I am Ahamed from India..I am seriously looking some interest free loan? Can any one tell me where i can get the interest free loans? either from banks / organisations / persons?? Please.

Thanks
Ahamed...

IslamOnline.net Article

Muslim Women Leaders

Forbes Top Muslim Woman of Power 2007

Dr. Naher Taher (Saudi Arabian Female Economist)

http://tinyurl.com/3254fx

At IslamOnline.net there are 300+ Fatwas on Financial Issues.

America's Cheapest Family Lives Debt Free
The Economides Wrote the Book on Debt-Free Living

The Economides family are aptly named -- the family of seven lives a comfortable lifestyle on $35,000 a year, without credit. They've written a New York Times best-selling book called "America's Cheapest Family Gets You Right on the Money." (The Economides)

http://abcnews.go.com/2020/story?id=3432477

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America's Cheapest Family of 7 Lives on < $35K/Year with NO DEBT!
http://abcnews.go.com/GMA/AmericanFamily/story?id=127871

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America's Cheapest Family and The HomeEconomiser Newsletter are dedicated to encouraging you to find creative ways to live within your means, avoid debt with a smile, and achieve goals you never dreamed possible.

http://www.homeeconomiser.com/

Af-flu-en-za n. 1. The bloated, sluggish and unfulfilled feeling that results from efforts to keep up with the Joneses. 2. An epidemic of stress, overwork, waste and indebtedness caused by dogged pursuit of the American Dream. 3. An unsustainable addiction to economic growth. 4. A television program that could change your life.

http://www.pbs.org/kcts/affluenza/

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"Never before have our emerging environmental crises been laid out so clearly before us. Rather than shouting from the fringes, respected economists, scientists, and politicians are sounding the warnings in high-profile journals and the halls of government -- warnings that our oceans are dying, that the ice shelves are melting, and that we are setting ourselves up for the most massive and devastating market failure humanity has ever seen.

So we recycle our garbage. We vote greener. We buy sleek, new hybrid cars and fill our houses with energy-efficient light bulbs. And we put our money and faith in the brave and ingenious technologies that will rescue us from the whirlwind.

But it won't be enough. Because this is not, fundamentally, a technological problem. Nor is it, fundamentally, a political problem. This is a problem of appetites, and of narcissism, and of self-deceit. The planet is breaking, and it is breaking under the weight of our hunger for more. To reform the world, we must first reform ourselves."

http://www.affluenza.org/

Fiqh Al Zakah (translation): Vol. 1 - Vol. 2
http://monzer.kahf.com/books/english/fiqhalzakah_vol1.pdf
http://monzer.kahf.com/books/english/fiqhalzakah_vol2.pdf

The Calculation of Zakah for Muslims in North America
http://monzer.kahf.com/books/english/Calculation%20of%20Zakah%20-%20revised.pdf

Zakah: The Third Pillar of Islam
http://www.amanafunds.com/zakah_main.html

Early-Bird Hajj Financial Planning
by Dr. M. Yaqub Mirza
http://www.amanafunds.com/hajj_main.html

Presentation on how to
Beat Debt . . . Build Wealth
Drive Free. Retire Rich. The Power of One Decision.
http://www.daveramsey.com/etc/lms/drive_free/player.cfm

Food for Thought:

"We live in one of the richest countries [USA] in the world, and yet the average family does not have over $1,000 in the bank. The actual statistics are that the typical American saves 4.7% of his/her income, while the typical Japanese saves 18.1%."

- "Savings by Nation," Wall Street Journal statistics
as quoted in the book, "Financial Peace", by Dave Ramsey (1997), page 107

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"Comparison of American and Japanese Consumption and Savings"
(Kyle Mudry's Entry For The 2004 Moffatt Prize in Economics)
http://economics.about.com/cs/moffattentries/a/us_and_japan.htm

Food for Thought:

"Americans saving less than nothing - "

In November [2005] the savings rate was a negative 0.2 percent.

"Savings is the absence of consumption,'' he said.

- Sunday, January 8, 2006
Tom Abate, San Francisco Chronicle Staff Writer

http://sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2006/01/08/BUG7IGJHEK1.DTL&type=business

Debt-Proof Living
formerly Cheapskate Monthly
http://www.cheapskatemonthly.com/

A 6-Step Guide to Making Your [Islamic]Will
http://www.soundvision.com/Info/life/6will.asp

Latest Edition of Will and Testament for Muslims in North America
Living Trust Documents for Muslims in North Americans
http://www.kahf.net/
http://www.isna.net/services/doc/

The Quran and the Prophet
about Money Matters
http://www.soundvision.com/Info/life/qandh.asp

Riba: The Personal Dilemma
5 Ways to Deal with it
by Abdul Malik Mujahid
http://www.soundvision.com/Info/life/riba.asp

A Muslim Perspective on credit
http://www.soundvision.com/Info/life/credit.asp

18 Tips to Simplify Our Spending
http://www.soundvision.com/Info/life/18.asp

20 Tips for Keeping your kids Debt-free
http://www.soundvision.com/Info/life/20kids.asp

Islamic Perspective on Economics and Money
http://www.soundvision.com/Info/money/

Family Finances Section (at bottom of page)
http://www.soundvision.com/info/marriage/

Recommended Percentages for Budget Categories:

Charitable Gifts = 10 - 15%
Savings = 5 - 10%
Housing = 25 - 35%
Utilities = 5 - 10%
Food = 5 - 15%
Transportation = 10 - 15%
Clothing = 2 - 7%
Medical/Health = 5 - 10%
Personal = 5 - 10%
Recreation = 5 - 10%
Debts = 5 - 10%

Financial Peace Worksheet 6
"Financial Peace", page 249
www.daveramsey.com

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Monthly Cash Flow Planning/Budget Form
http://www.daveramsey.com/media/pdf/fpu_monthly_cash_flow_plan_forms.pdf