3 Tips for Managing Household Finances According to Islam

Financial management has always been a crucial issue in a household. Likewise in Islam, how to manage finances is not an easy thing because it requires focus, accuracy, and ingenuity.

The tips for managing household finances according to Islam are needed to form a Sakinah, Mawaddah, and Wa Rahmah family.

As Muslims, the way Rasulullah SAW in managing household finances needs to be followed to create a Sakinah family.

This step needs to be done so as not to be wrong in managing finances in the household and to avoid conflicts with partners.

The Importance of Managing Household Finances

The beginning of a marriage is a fundamental period in forming a harmonious family. Over time, family life will develop. Then there will be more and more that must be faced in married life. Therefore, financial management in the family should be planned properly and carefully to avoid problems in the future. Many needs must be carefully considered, including health needs, children's educational needs, basic daily needs, and others.

Based on the needs above, it is important to note for all married couples, that a family must plan good management.

The reason is that financial problems tend to trigger conflicts if there is no prior discussion regarding financial planning that is agreed upon by both parties.

Tips for managing household finances according to Islamic teachings

All aspects of life are taught by Islam, including financial management. Islamic families can follow financial management based on Islamic law as exemplified by the Prophet Muhammad, including:

Determining family financial priorities

The first step taken by Rasulullah SAW to make financial planning is to understand all the needs of the family, including savings, electricity bills, telephone bills, children's education costs, health costs, service fees, and others.

These various needs are managed properly, according to their needs. The priority of Islamic needs based on their priority, among others:

- Debt

- Zakat or alms

- Shopping for family needs

- Savings

 

Family needs are divided into three types, namely:

Primary needs

It includes basic human livelihoods which are estimated to be able to realize the five objectives of the Shari'a, namely preserving the soul, mind, religion, lineage, and honor.

While the types of needs include: food, drink, clothing, shelter, health, knowledge, and marriage.

Secondary needs

It is a necessity of life that is fulfilled so that it is far from difficulties. This need is still related to the five objectives of the Shari'a and does not need to be met before the primary needs are met.

Complementary needs

If fulfilled, complementary needs will add goodness and well-being to human life.

The fulfillment of these needs after the primary and secondary needs are met, because all are related to the objectives of the Shari'a.

One example is the need for capital for business actors for the benefit of business growth. If the income is only sufficient for primary and secondary needs, then Ethis.co.id is here to be a solution to family financial problems.

As a funding institution, Ethis.co.id exists by the values ​​of Islamic law. As a trusted financial institution by getting various awards from within and outside the country.

Especially present to support the field of business development, Ethics.co.id is here to be a selected return-based business funding solution. The advantage is that partners can monitor project progress safely and transparently.

Finances are managed efficiently and simply

Not much property was inherited by the Prophet Muhammad and his companions after their death. Always prioritizing simple life during his life, the Prophet and his companions did not mean living in poverty or being unable to fulfill their needs. The simple life exemplified by the Prophet Muhammad and his companions means limiting oneself not to live excessively, wallowing in wealth and worldly happiness.

Rasulullah SAW did not recommend that the excess of wealth owned by humans makes it unwilling to share with others.

Have a balance in income and expenses that is beneficial

Islam teaches a wife not to be too burdensome for her husband and spend needs beyond her husband's ability.

A wife is encouraged to manage household expenses efficiently according to her husband's priorities and income. Islam does not like a wife who is always wasteful and consumptive.

Islamic teachings encourage its people to work and try well. In addition, Islam also teaches that the results of the efforts of its people are used for something good and useful.

The principle of Islamic consumption patterns prioritizes needs in addition to benefits so that they will only spend according to their needs and will only need what is useful.

About Livelihood in the Family

Islam stipulates that the nature of the obligation to provide a living in the family is the responsibility of the husband. So it is mandatory to work well and strive for halal.

The woman's duty as a wife is to be responsible for managing family finances and caring for family assets.

The above has explained tips for managing family finances in an Islamic way, which requires cooperation between husband and wife for the sake of creating a Sakinah, Mawadah, and wa Rahmah family.

Good cooperation between husband and wife will reduce conflicts or problems that may arise due to financial factors.