Islamic Economic Wakaf

Earning and Spending Money from The Islamic Point of View

We are living in a time when the Importance of money is more than ever. The desire of living a lavish lifestyle is more than ever due to the Impact of media. Our beloved Muhammad SAW has told us that fitnah of my Ummah is wealth. Quran tells us that our wealth and our kids are a test for us. There is no doubt that human beings love wealth. When they get the wealth they want even more and this desire never ends till we die. Having wealth is not a bad thing if earned and used in the right way.

In fact, earning money through Halal way and hard work is a virtue. Beloved Muhammad SAW said that (which means):

“Honest traders will be in the category of messengers, saints and martyrs on the day of judgment.” [Narrated by Bukhari]

Another hadith tells us that spending money earned through the Halal way on your family is Sadaqah. However, its Haram to make money through methods which are forbidden by our Deen like dealing in Interest, doing dishonesty, lying about the Item that you are selling. using the money for wrong purposes like bribery, corruption is also Haram.

It is also important to give Zakat on the money that you have earned. Zakat purifies your wealth and also ends poverty from the society. along with Zakat, you should also try to do as much sadaqah as you can. The Prophet SAW used to do massive charity.

It is Important to be moderate in spending the money. you should not be wasting the money on unnecessary things and you should also not be a miser. these are some point which we must keep in mind related to Money, earning and spending.

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