Sunday, March 6, 2011

Muslim Mom Money Manager

One of the three major responsibilities for Muslim wives in Islam is managing the family's wealth. In addition to caring for the children's education and overseeing the household, Muslim wives often negate their priority to manage their wealth - money, properties, belongings and investments.
Becoming a better Muslim Mom Money Manager takes time, can not be achieved overnight, but with the right intentions and determination to learn and act accordingly, Allah (God) will help you succeed, inshaAllah (God willing). Listed below are the some tips to get you started:

* Setting a Frugal Mindset for your family is an Act of Taqwa (God conscientiousness). Frugality is an intelligent lifestyle--not a cheap one! Bargain-shopping is a gift to your family, not a punishment. When a mother (and father) instills the value of earning a dollar and stretching its value, children will appreciate and even feel challenged to gain the most from your family's money. Be creative and ingenious in how to position the minds of your family members to appreciate frugality as a duty of all, and not a choice of a few. Those who are spend-conscience are more intelligent than spenders. You have an obligation to your family to be resourceful and appreciative of the worldly gifts Allah has provided your family: your wealth. Your material wealth is not an indicator of how much your faith is worth. Therefore, you should never judge your status in life with money - your status is determined by your deen - your religion and way of life. So, live your life responsibly, after all, the one who misuses and abuses his/her wealth, is guilty of possible waste and arrogance. Don't like the term: Frugal-Minded? Then, try Value-Spending.

Know The Financial Rights of Each Family Member in Islam. Your husband's obligations is to provide your shelter, food, clothing, and financial means for you to live comfortably, therefore it is your responsibility to spend wisely. Spend your money reasonably and responsibly on the necessities in life, such as clothes, education, health and hygiene for you, your husband and children. However, if your husband is misery with his money and you do not have necessities, you are permitted to proudly, not secretly, use the money to fulfil the family's needs. Keep in mind, that as a Muslim wife or mom, it is not your responsibility to bring money into the household. And, if you incur money it becomes your own wealth, which you can spend as you wish. This luxury, not afforded in many other cultures or religions, should never be under-appreciated or taken for granted. Meaning, if you have wealth and your family is experiencing difficulties, remember that charity must first start at home--so, helping your family carries great benefits for you in this life and the hereafter. On the other hand, if your husband is experiencing great fortune, and you desire to work, your duty to your family and home takes precedence. It takes a creative mom to find balance for her family - and it starts by maintaining balance herself first.
If you liked these tips, please check out "More Tips Every Muslim Mom Should Know About Managing Money".

Ponn Sabra MPH, a highly-prolific public health official, turned best-selling author, internet marketer and columnist, now focuses all her time and energy to being a Muslim homeschooling mom. Ponn and her 3 girls created the 1st and largest online community dedicated to American Muslim moms where they share their high-tech, traveling, green tips, tools, contests and more. Come grab some great freebies at today!

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