Do you have Aspendicitis?

Oct 10 - Do you have AspendicitisBy Noorjehan Arif and Sumaira Dada

Of the five questions on the Day of Judgement, one will be: “How did you spend your income?” (At-Tirmidhi) It is imperative that, as Muslims, we scrutinize our spending habits and control the urge to splurge. In order to help control our spending habits, we need to remind ourselves of the divine injunction in this regard: “Verily, spendthrifts are brothers of the Shayatin (devils), and the Shaitan (Devil) is ever ungrateful to his Lord.” (Al-Isra 17:27)

How do People Control the Urge to Splurge?

Perveen Wali, a grandmother of three, says that she controls the urge to spend by not going out of the house very often. Besides, her mobility is limited. Apparently, that is a blessing in disguise.

Uzma, a lecturer at a business school, quips: “I don’t have to control the urge to spend. It looks at my wallet and controls itself.”

Sadia Hassan, a postgraduate student, surprises us by saying that she hardly gets an urge to spend. In fact, her mother jokes that she likes to go shopping with her, because Sadia doesn’t make her spend much! So, how does Sadia control the urge to splurge? She does it by thinking and evaluating that the more material possessions she has, the more she’ll have to account for before Allah (swt).

Sadia Jibran, a mother of a one-year old, concedes that it’s difficult to control spending, especially after one is married. Nevertheless, she is able to control her desire to spend excessively by taking a friend along during her shopping trips, so that somebody is there to ask her whether she really needs whatever catches her eye. She agrees with a friend that hanging out at malls to window-shop is a real no-no, because window shopping leads to a lot of real shopping.

Ameera Khan thinks that giving purchases a second thought definitely controls spending on unnecessary items. She does admit, though, that it really is difficult to hold yourself back, when you know you can afford to buy something.

Your Wealth Includes a Share of the Needy

Another way to control overspending is to realize that the poor and the needy also have a right to your wealth. Allah (swt) describes the quality of the believers saying:

“And those in whose wealth there is a known right for the beggar who asks, and for the unlucky who has lost his property and wealth, (and his means of living have been straitened).” (Al-Marij 70:24-25)

A Hadeeth also reinforces the fact that the excess wealth, which remains with you, is not yours.

Abu Saeed al-Khudri (rta) reported: “While we were with the Apostle of Allah e on a journey, a person came upon his mount and began to stare on the right and on the left; (it was at this moment) that Allah’s Messenger (sa) said: ‘He who has an extra mount should give that to one who has no mount for him, and he who has surplus of provisions should give them to him who has no provisions,’ and he made mention of so many kinds of wealth, until we were of the opinion that none of us has any right over the surplus.” (Muslim)

Prioritization of Spending

Prioritizing one’s spending is an effective way of controlling impulse buying. Our priorities should be according to what the Prophet (sa) has outlined.

Abu Hurairah (rta) narrated that the Prophet (sa) commanded to give Sadaqah. A man said: “Apostle of Allah, I have a Dinar.” He said: “Spend it on yourself.” He again said: “I have another.” He said: “Spend it on your children.” He again said: “I have another.” He said: “Spend it on your wife.” He again said: “I have another.” He said: “Spend it on your servant.” He finally said: “I have another.” He replied: “You know best (what to do with it).” (Abu Dawood)

One of the ways to control overspending is to know the right place to shop for your needs. Here’s a list of affordable places that you can go to for your essential shopping needs.

Sunday Bazaar

Spend some time in Sunday Bazaar and you will get the most amazing of options on the most outrageous of bargains. Make sure that you bargain for at least half the price and settle for a maximum of two thirds, for whatever you want to purchase! Everything you need is available at these Bazaars from books to clothes, to groceries, to shoes and more!

100 (or 50) Rupees Shops

Want to purchase gifts, but don’t know what to buy and how much to spend? These questions will become easier, when you visit the 100 or 50 Rupees shop. You will find a multitude of items at reasonable prices, and you can pick up some nice bargain items for your friends and family!

Discount Book Stores

Are you fond of buying books? Rejoice, for there are a number of discount book shops and stalls, which will have the books of your choice. A little time and a little money can go a long way in finding the books of your choice. Some of these stores also buy and sell books giving one an opportunity to swap old books with the new unread collection that they stock.

Specialized Bazaars

Each city and locality has some specialized Bazaars, where you can get things of your choice. From stationery to cosmetics and more, you will be able to get items cheaper here than in shops near your place, because this is where other shops buy all their items from, on wholesale rates.

Believe that You Can Change

The more you think of ways to control your spending habits, the more ideas you are likely to come up with.

People go as far as suggesting that one should freeze all credit cards and pay for purchases in cash. Others add items to their wish list, give them a second thought and then decide, whether to buy or not. Still others make a proper budget, compare items before purchasing them and refuse to be deceived by attractive advertisements and promotions.

It also facilitates mingling with simple people. Most of us also spend in competition with others, on stuff we can easily do without.

At the end of the day, it’s all about wanting to control the ability to spend and not become a victim of aspendicitis (an inability to control the amount one spends).

Pinching Paisas…

quart jar full of coins, pennies,nickels,dimes and quarters, with clipping path

Hiba continues its series on money management. In the second article of this series, Sumaira Dada, Noorjehan Arif and Aisha Ashraf Jangda talk to people and get tips on how to save money.

Whether you call it using resources responsibly, saving for future generations or just plain pinching Paisas, you know exactly what we are getting at. During the times of rising prices and falling incomes, we all need to look around for little tips on saving money. Here’s what we found.

First Step

The first step, in order to reduce the mountain of unpaid bills, is to start cutting off unnecessary expenses. Beena, a homemaker, cut down all the imported cosmetic items she used to buy. She started using local products instead. She also started making clothes for her children out of her old ones, all by herself! Monia, a Quran teacher, states that understanding the Quran helps in controlling her spending habit. On a witty note, she claims that wearing an Abaya helps reduce spending on clothes!

To cut the rising costs of electricity and fuel, you can control the excessive use of air conditioners during summer. Having mint-lemon drinks and wearing cotton and lawn clothes can do wonders in keeping you cooler! In winter, a better idea is to use warm clothes and blankets, which can help you, cut down on the fuel bill and also keep you warm.

Second Step

The second step is to be creative in fulfilling your needs. One enterprising grandmother used to make quilt blankets out of old cloth pieces! An aunt, who is known in the family for her taste in furniture, reused an antique sideboard from her mother, got it polished and painted so well that now she has placed it in her drawing room. A friend of my mother had a great idea of saving money on buying expensive paintings to put up around the house. She framed the 500-piece cardboard puzzles that her teenage children had discarded and hung them on the walls. Trust me; a framed puzzle usually catches any guest’s eye, just as it caught ours!

Third step

The third step is to start saving money with a group of like-minded people. Monia gives the idea of a Voluntary Committee (VC), a pool of funds, where every member puts in a certain amount of money on a monthly basis. At the end of the month, the entire amount accrues to a certain member. This helps to save a significant amount of money with little hassle. This discipline can be taught to teenagers as well, with an adult involved in safeguarding the money.

Quick Advice: Preparing an emergency fund is also very useful, as emergencies such as a job loss, illness, home or auto repairs, can be a significant drain on the finances. Most experts agree that you should keep between three and six months worth of your living expenses set aside in your emergency fund. Evaluation of your situation and the number of children in your family will determine what amount is best for you. Initially, you can begin with Rs.1000 a month and then increase the amount gradually. After a few months, you won’t even notice that Rs.1000 is missing, so you would be able to increase the amount you put aside. The best way to get started would probably be through your bank. Open up a new account in an Islamic Bank, if you currently don’t have one, and begin to save in it. The next step is to get into the habit of making regular deposits into this account. Once you make saving automatic, you won’t even have to think about it.

Working People

1) Saving Money at Lunchtime

We’ve all heard the advice to bring lunch from home to save money. But does it mean missing out on eating out with your co-workers?

  • Ask a few colleagues, if they’d like to join you in brown bagging lunch. Chances are they’d like to save money, too. You can set up a potluck in the break room or kitchen with everyone’s leftovers or favorite sandwiches. Not only you will get to know your colleagues better, but you will also be able to try a variety of foods. This may lead to recipe-swapping.
  • Avoid eating unnecessary and unhealthy snacks like chips, biscuits and ice-cream at work. They may be excellent munchies and you may want a crunch during that afternoon slump, but fresh fruits or vegetables brought along from home are more healthy and lighter on the stomach as well as your wallet.
  • Avoid eating out too often. Eating out is extremely expensive, and it leads to overeating, since the sizes of portions are larger than usual. If everyone at work decides to eat out, you could either eat your own food by staying back or simply order the cheapest option on the menu.

2) Saving Money on Commuting

Do you cringe at the price of filling up your gas tank? Consider cutting your fuel costs and saving wear and tear on your car by changing your commute. See if you can:

  • Search for an alternative route.
  • Avoid rush hours. Go to work half an hour earlier and leave an hour later.
  • Carpool with a co-worker or someone who works nearby.
  • Take a bus. You may enjoy the time usually used in driving to read or listen to translation of the Quran on your mobile.
  • Get your chores done along the way. Pick up grocery items or laundry, while you are coming back from work. This can save you time, money and fuel.

Save Money on Gifts

Have you ever had to give gifts to co-workers, because they’ve just got married or someone has just had a baby? Most organizations have a policy, where you can give a gift to colleagues or customers financed by the department budget. Find out if your organization has such a policy and utilize it, thereby saving your personal income.

Another way to save on gifts is to pass on gifts that you have received from others or be a little creative and design a card or clothes or even bake a cake. You can also pick a bunch of flowers from your garden. In fact, there are endless options of saving money on gifts – all it takes is some creativity and a willingness to pinch Paisas!