There was an interesting publication released by the Pew Research Center, which indicated that Muslims have similar levels of education to Americans overall, but report lower household incomes.
Now why is that?
Of course, there could be many reasons tied to this statistic, and we can’t ignore the potential for discrimination or prejudice playing a part.
However , just as with everything in life, I would hate to shift responsibility to outside factors instead of taking ownership and uncovering what we could do as an Ummah to change this statistic, and help Muslims be more financially abundant.
And I believe one key factor that hinders our progress is the lack of education surrounding money.
Because the pursuit of money could potentially lead someone to obsess over worldly affairs and ignore their spiritual growth, we have chosen to leave it out of our masajids and discussions entirely, and have never bothered to provide the proper education on how someone can build halal wealth, and all the potential good they could do with it if they had a balanced approach.
When you understand how money works, you change your relationship with money, and it stops being this constant struggle where you are fighting for it at every turn, and it instead starts flowing into your life with abundance.
𝗧𝗵𝗲𝗿𝗲 𝗮𝗿𝗲 𝟯 𝗿𝘂𝗹𝗲𝘀 𝘁𝗼 𝗯𝘂𝗶𝗹𝗱𝗶𝗻𝗴 𝘄𝗲𝗮𝗹𝘁𝗵 𝘁𝗵𝗮𝘁 𝗲𝘃𝗲𝗿𝘆 𝗠𝘂𝘀𝗹𝗶𝗺 𝘀𝗵𝗼𝘂𝗹𝗱 𝗸𝗻𝗼𝘄:
1️⃣ Stop trading time for money
If the only way for you to acquire more money is by trading more of your time, you’re playing a losing game.
Wealthy people intentionally design their lives in a way where their income is tied to the value they provide, and not to the amount of hours they put into a certain job.
This is why I encourage all Muslims to have their own business, because it will get you out of this cycle.
2️⃣ Your money has to work for you
Cash doesn’t sit in bank accounts where it is consistently depreciating in value.
Instead, it’s invested towards companies, stocks, assets, and real estate where it can grow and produce more money.
3️⃣ Give as much value as you can
The secret equation behind how the economic world operates is simple.
Your value output = your income input.
Amazon is valued at $1.59 Trillion Dollars because it provides value on a global scale to over 200 million people.
A cashier making $10/hr only earns that because they fulfill one specific role for one specific store, and the skillset is replaceable.
When you maximize your value output by BECOMING more valuable (as an individual or business), more income will start to flow into your life.
Once you start to understand the fundamentals of how money works, you give yourself the ability to see things objectively and do what’s necessary to succeed.
Rooting for your success
El-Asmar, Abby. (2022, March 5). Adopt these 3 rules if you want financial abundance. Retrieved from https://www.facebook.com/groups/383728692335862/user/100002193582686/