[4/4] The Fresh Start Series: Weallth

Saved the best for last!

Dec 31, 2024

Assalamu alaykum dear friend,

Welcome to the final episode of The Fresh Start Series! Today, we're diving into all things wealth 😁

First things first… If you’re struggling financially, I see you. I see you. I see you.

If you’re doing well financially but are seeking more barakah, I see you. I see you. I see you. This Letter is for all of us.

Many of us face financial struggles because, well… life happens. But sometimes (keyword: sometimes), if we pause and reflect, we might find that there are some root causes of our financial struggles, whatever the struggles may be. Think self-limiting beliefs, a shaky money mindset, sins, haram income sources, poor financial literacy, or even just a lack of planning.

When I think of a fresh start in the wealth area of my life, six main categories come to mind. But before we get into those 6, a reminder from my heart to yours:

Dear sister, be mindful of Allah

This is 100% a reminder to myself first 😮‍💨

If things are looking shaky financially (and even if not), I invite you to start by analyzing your Taqwa level, i.e. how conscious and mindful of Allah are you in everything you do, every single day?

Allah tells us:

“…And whoever is mindful of Allah, He will make a way out for them; and provide for them from sources they could never imagine. And whoever puts their trust in Allah, then He ˹alone˺ is sufficient for them. Certainly Allah achieves His Will. Allah has already set a destiny for everything.”
[Qur’an 65:2-3]
And whoever is mindful of Allah, He will make their matters easy for them.
[Qur’an 65:4]

The promise of Allah is true. How can we not do our part?

Beautiful sisters, we have work to do. We have stuff to fix inside of ourselves. We need to wake up and show up and strive to become true people of Taqwa.

Now, look what Allah tells us in the Qur’an about what Prophet Nuh (AS) said to his people.

“saying, ‘Seek your Lord’s forgiveness, ˹for˺ He is truly Most Forgiving. He will shower you with abundant rain, supply you with wealth and children, and give you gardens as well as rivers.”
[Qur’an 71:10-12]

SubhanAllah!

Again, the promise of Allah is true. You and me need to do our part, in this case, seek His forgiveness.

Busy yourself with tawbah (repentance) and istighfar. Your past, present, and future, your mind and heart, and your finances all need it.

Ok, let’s switch gears a bit to talk about the 6 main categories to keep in mind regarding wealth.

1. Money Mindset

When you think about making more money and even becoming super wealthy, how do you feel? Do you see it as a way to empower yourself and others, or as something to shy away from and just not talk about? Do you lowkey have a fear of success which sometimes holds you back?

Action Items:

Read You Are a “Baddo” at Making Money (I tried hard to not recommend this book because 1) the title 2) the woo bits 3) the language 😮‍💨 but there’s so more to the book than these things, and I pray you skip those parts of it and really get the core message. And inshaAllah I’ll be on the lookout for something much cleaner to replace this recommendation)
Remind yourself often that wanting to be wealthy does not make you selfish! It just means you’ll be in a better position to help yourself and others along the way, bi idhnillah.
Listen to this 10-minute podcast where Dr. Haleh Banani talks about self-sabotage i.e. standing in your own way.

2. Earning

Are you satisfied with your current source(s) of income and income level? Are your sources of income a bit too much to juggle realistically? Are you happy with the source, i.e. is it halal source? If not, consider (ASAP) what halal income sources you can switch to.

Action Items:

Brainstorm potential income streams that align with your values, skills, and interests.
List three new skills you’ve been wanting to learn, then pick one to start working on this month inshaAllah.
Find your Ikigai 😆 or define your Octopus Life (Side note: I’m definitely an Octopus!)

3. Spending

Are you spending within your means? Being extravagant / excessive / wasteful? Are there ways you spend money that you’re not super proud of? One thing I ask myself is, if I pass away and have a subscription auto-payment still ongoing, which subscriptions would I be most ashamed of? And this definitely applies now that we’re still alive - are there places you spend money that you’re not super proud of?

Action Items:

Create a monthly budget and stick to it 😆 (you can use YNAB or a simple Google spreadsheet).
Seek ways to up your financial literacy, especially from an Islamic perspective.

4. Saving & Investing

How are things looking in your savings department? Are things looking high high, or dry dry? 🙈 Are you building an emergency savings fund? Are you investing at all? If yes, are all of your investments halal?

Action Items:

Set aside a percentage of your income each month for saving/investing, even if it’s just 5%.
Read The Total Money Makeover (skip the parts that don’t align with Islamic principles).

5. Giving (Charity)

You know what the Prophet SAW said about charity? He said: “Charity does not decrease wealth.” Is giving charity a regular part of your week/month/year?

Action Items:

Check out the book “The Simple Zakat Guide” by Joe Bradford (this is on my to-be-read list)
Listen to the stories the stories shared in this YouTube video, which reminds about a deed that can (also) help you to build wealth, and add ‘charity’ to your weekly/monthly to-do list.
Reflect on this Hadith and how it applies to you:
“The Prophet (SAW) said, "Seven people will be shaded by Allah under His shade on the day when there will be no shade except His. They are: […] (6) a person who practices charity so secretly that his left hand does not know what his right hand has given (i.e. nobody knows how much he has given in charity).”
[Al-Bukhari and Muslim]

6. Debt

Do you have outstanding debts weighing heavily on your shoulders? Are you focused on paying off your debt, or are you taking on even more debt? Do you have a plan or a timeline to pay it all off inshaAllah?

Action Items:

Write down all your debts (so you have them all in one place), and create a debt repayment plan. Remember: the journey of a thousand miles begins with a single step. BUT you must, must, must remember du’a (next point) and hold on tightly to it.
Journal prompt: What is one thing I can do today to get me 1% closer to paying off my debt?

7. Du’a, du’a, du’a

Never ever underestimate the power of du’a. No matter how big your financial goal is, no matter how massive your debt is, it’s not beyond Allah’s Power.

I repeat: your financial goals are not beyond His Power. He can handle it all for you. Keep on asking Him, and stay grounded in your tawakkul (trust in Him)

Action Items:

Make a simple “wealth du’a list” — three bullet points are more than enough. Then set an alarm to wake up for tahajjud to Allah for what you want.
Remind yourself of the Hadith: “When you ask from Allah, ask for Al-Firdaus...” (Sahih Bukhari). Don’t play small in your du’a. It is Allah you’re asking! Go all out with your du’a, and also go all-out with your action-taking towards what you’re asking Him for.

Remember, dear sister, wealth is just one part of our lives, but it can be a powerful tool for so much khair when we approach it with sincere intention. Keep taking small, consistent steps, trust Allah’s plan for you, and stay mindful of Him.

May Allah grant you barakah in your spending, saving, and giving, and make your wealth a source of ease and empowerment for you and others. Ameen!

At this point, I have a developing thought to share (as in, it’s in my head but not crystla clear yet). But then… this Letter is super long already. So inshaAllah I will be sending my “developing thought” (lol) and final words regarding the Fresh Start series in the next Letter inshaAllah!

Love + Du’a,
Maryam

P.S. Want to know what’ll make me smile so wide right now? It’s if you say yes to this request: Would you please reply to this email or leave a comment below to tell me which of the action item(s) you’re going to try hard to implement? :)