In short, to deal with any crisis—whether privately as individuals or publicly as a community—is to return wholeheartedly to the teachings and guidance of the Qur’an and Sunnah, which related to financial matters include the following:
(1) Realize the true nature of this world, as explained by the Prophet Muhammad (peace and blessings be upon him) in many hadiths, such as (which means):
“This world and all that is in it is cursed, except for the remembrance of Allah, that which He loves, a scholar or a student of knowledge.” [Narrated by Tirmidhi]
That is, all of this world is blameworthy except for that which is used as a means to please Allah, to draw near to Allah, and to serve Allah and His religion. If one’s worldly efforts are done for the sake of Allah, they are blessed and bring blessings; otherwise, they are devoid of good and become a means of headaches and worries.
(2) Related to that, try to infuse all of your work and career endeavors with a sincere intention—to please Allah, to use your earnings for the sake of Allah, to earn a halal income, to have enough money to support your dependents and donate charity, etc.
Having a job is a great blessing of Allah Most High, and a means to do much good. It is the way of the prophets themselves, as Allah’s Messenger (peace and blessings be upon him) said (which means), “No one ever ate better food than from the work of his own hands, and Allah’s prophet Dawud used to eat from the work of his own hands.” [Narrated by Bukhari]
Take the means to secure a good job, and work hard: be diligent, honest, and upright—all for the sake of Allah.
(3) Spend in charity, and do so regularly. This is a great source of barakah in one’s life and wealth, as well as a means for acceptance of spiritual works, good health, and warding off calamities.
Allah Most High states, as related by the Prophet (peace and blessings be upon him) in a hadith Qudsi (which means), “Spend O son of Adam! I will spend on you.” [Narrated by Bukhari]
(4) At the same time, be balanced in your charity, and do not neglect your primary financial obligations.
The Prophet (peace and blessings be upon him) said (which means), “O son of Adam! For you to spend the surplus is better for you, and for you to withhold it is certainly worse. You will not be blamed, however, for keeping what suffices you; and [when you spend] begin with your dependents.” [Narrated by Muslim]
A Quranic verse that provides a most beautiful summation of the attitude of the believer towards his wealth is (which means):
“And seek, with respect to all that Allah has given you, the next abode; yet forget not your portion for this world; and [when you do spend] do so with excellence, just as Allah has shown excellence to you.” [Al-Quran, surah al-Qasas, verse 77]
Muslims do not neglect their worldly duties and responsibilities, yet their focus, aim, and the goal is Allah and the afterlife. And when they do anything for Allah, they do so with excellence and beauty (ihsan).
(5) Have god-fearingness (taqwa) in all your affairs, as taqwa is a means to every good in general, and specifically to relief from distress, unforeseen provision, and ease in one’s affairs.
Allah Most High states (which means), “Whoever has taqwa of Allah, He will give him a way out, and will provide sustenance for him from whence he least expected,” [Al-Quran, surah at-Talaq, verse 2-3], as well as (which means), “Whoever has taqwa of Allah, He will make easy his affairs.” [Al-Quran, surah at-Talaq, verse 4]
(6) Avoid wastefulness (israf), which is a major vice and disease, prevalent at both the individual and societal levels today.
Allah Most High states (which means), “Do not be extravagant: verily the extravagant are the brethren of devils” [Al-Quran, surah al-Isra, verse 26–27), as well as “Eat and drink, but be not wasteful: verily Allah loves not the wasters” [Al-Quran, surah al-A’raf, verse 31].
(7) Related to avoiding wastefulness, appreciate the immense blessing of wealth, and show much gratitude for it. This is a sure means to keeping the blessing, inshaAllah, as well as finding an increase in it.
As Ibn Ata’illah states (which means), “Whoever does not show gratitude for blessings has exposed himself to losing them, yet whoever shows gratitude for them has tied them down by their tethers,” which is based on the Quranic verse, “And surely if you show gratitude, I will most certainly give you more” [Al-Quran, surah Ibrahim, verse 7].
(8) Maintain family ties, which itself is an expression of gratitude for the blessing of family, and also a means to expansive sustenance.
Our Beloved Messenger (peace and blessings be upon him) taught us (which means), “Whoever would love for his sustenance to be broadened [and filled with blessing] and for his lifespan to be extended, then let him maintain family ties.” [Narrated by Bukhari and Muslim]
(9) Make tawbah your constant companion in the journey of life. Shun the unlawful and ask much forgiveness.
This should be done for the sake of Allah alone, but Allah does inform us of some worldly benefits of tawbah as well, including financial, as He Most High states (which means), “So I said, ‘Seek forgiveness from your Lord, indeed He is Ever-forgiving. He will send down rain upon you in abundance, and He will increase you in wealth and in children’” [Al-Quran, surah Nuh, verse 10-12].
(10) Realize that financial difficulties, as with all difficulties, are tests from Allah. Turn to Him in neediness, lowliness, humbleness, and impoverishment. Raise your hands in supplication, and ask of His favor. Tell Him that you are His weak servant, and He alone is Lord, Master, Powerful, and Free of need.
Persevere, be steadfast, and hold fast to contentment. Take the means to end the trial, and leave the rest to Allah. If we are pleased with Allah, Allah will be pleased with us, and there is no success greater than that.
Taken with slight changes from https://www.seekersguidance.org/answers/general-counsel/advice-on-dealing-with-the-financial-crisis/
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