If you think about it, so many things in life are free: sunlight, the wind, and the air that we breathe. Yes, there are mortgages and bills to pay. But if we tallied up the price of things that we pay for and those that come free from Allah, which one would be bigger? What about the price tag on the smile of our children? Or our husbands, who still find us beautiful even when we freak out about our crow’s feet?
When we are aware and grateful for having more than we seek, whether they are material things or not, the urge to spread goodwill can come quite naturally. So, how well does the concept of sharing and caring sit within our family’s financial planning? Can we expand our financial goals to include helping those in need? If yes, how are we going to achieve this?

Should we plan a charitable action or should a special bank account be created for this purpose?

FAITHFUL SPENDING

First, let’s talk about faith—something that reflects many aspects of our lives, including the way we manage our money and wealth. It influences how we prioritise and make financial decisions as well as how (and how much) we choose to spend. Islam is all about balance between our intentions and our deeds. Some deeds benefit ourselves, while some benefit others. These range from standing up during prayers to extending sadaqah to people who need help.