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Without a doubt, we are living in very trying times as a human race. As a Muslim, the challenges that we face in today’s world can be testing in different ways. As we go about our daily lives, we should really reflect on some of the challenges that we as Muslims face. Have you stopped and asked yourself: Why do Muslims have such negative images globally? Why is it that Muslim regions are constantly involved in wars?  Why are young Muslims having difficulties getting married? Why are marriages failing? Why is it hard for brothers and sisters of the ummah to find decent jobs? Why is it that many Muslim brothers and sisters are experiencing difficulties in their greater communities when they wear their beards or hijabs? Why is it that thousands of Muslims are leaving Islam, even during a period where the religion is the fastest growing religion in the world? As we witness such trying times, do we think that Allah (swt) has forsaken us and is not answering our prayers? There are a lot of factors to consider in determining the root cause of our issues as Believers and we should start by taking a closer look at how we contribute to the problems that we experience in our daily lives. Let’s discuss, in greater detail, how we are our own worst enemy.

The current society we live in is very microwave like. We want everything right now even if we don’t have the proper means of obtaining it. We no longer have a sense of delayed gratification which is a key principle in Islam. Because we are an impatient society, the only way to obtain the things we want quickly is through debt. Debt is a direct result of our impatience. Impatience is a product of immaturity. One definition of maturity is the ability to delay pleasure for the greater good.  Dave Ramsey says, "Adults devise a plan and stick to it. Children do what feels good."  People typically go into debt when they don’t have the money for something and choose not to wait until they accumulate enough.

In America, debt leads to Riba (Interest/Ususry) which is not permissible in Islam. The Qu’ran states in Sura 2, Aya 275 “…Allah has permitted trade and has forbidden riba.” Riba is a poison to any community. It stifles growth, adds immense stress which affects relationships and can ultimately lead to disbelief. After every prayer, the Prophet (saw) would seek refuge from two things: disbelief and being in debt*. The fact that he paired debt and disbelief together in the same duah says a lot. One can clearly see the problems that debt causes millions in our 'Capitalistic society' today. To consume Riba or pay it comes with a severe penalty as supported by the following Quranic verse, “O you who believe, fear Allah and give up what remains of your demand for riba, if you are indeed believers. If you do not do it, take notice of war from Allah and His Messenger.”  Qur'an 2:278-279.  
* Nasa'i

As millions of Muslims go to college, buy homes, cars, and start businesses by means of debt, we can clearly see why our Ummah faces such trying and difficult times. We have declared war against our Creator yet somehow we expect to win in life?   A common response from many who have accumulated debt is, "I will pay it back quickly when I get a job or start making more money." Are you sure you are going to get a job or make more money? Will you live long enough to pay it back? To purposely go into war against our Creator and expect to be forgiven when you pay it back is a pretty bold move don’t you think?

To purposely go into war against our Creator and expect to be forgiven when you pay it back is a pretty bold move don’t you think?

How to Fix it

The first thing that we need to do to fix our situation is to stop going into further debt. DO NOT enter into any more interest based transactions. Our intentions are everything in Islam and to make the intention to please our Creator by eliminating debt and interest speaks volume. If you are in college, find an alternate way to fund school like scholarships or work to pay for your education. If you need to work and save up for each semester then do so. There are no age limits to when one can become successful in a career so it is ok to delay graduation to do things the right way. With the right intention, doors will open for you.

Next, if you have an auto, business, or any other type outstanding loan, devise a plan to pay them off as quickly as possible. It is one thing to make the intention but another to put your plan into action. We all know that actions speak louder than words.  Lastly, we must create a new standard of personal finance in this country we call home. We MUST commit ourselves to the principles taught in Qur'an and Sunnah. Islamic principles of finance are the world's best financial principles and we must truly believe this. Respected financial expert Dave Ramsey, an evangelical Christian, stated, "The Qur'an has excellent financial principles." If he can acknowledge the excellence of the financial principles given to us, then why can't we?

Respected financial expert Dave Ramsey, an evangelical Christian, stated, "The Qur'an has excellent financial principles." If he can acknowledge the excellence of the financial principles given to us, then why can't we?

As a financial coach, one of the principals I stand by when helping people gain control of their lives through financial empowerment is to get out and stay out of debt. When I made the decision 4 years ago to leave debt and Riba, my life made a dramatic twist for the better. My energy became highly positive, fear became pretty much non-existent, and my faith (Iman) grew tremendously. I have since lived a low stress life and I would have never thought that I would one day have people telling me that I am an inspiration to them. It’s amazing how Allah powerfully impacted my life simply because I made the decision to change my financial ways.

I'm not saying that staying away from debt and interest will fix all of the problems in the Muslim world. However, we must ask ourselves: Do we expect to obtain guidance, blessings, protection and sustenance from our Lord when we are at war with Him? May Allah make us most responsible with the resources He provides us and allow us to stay on the straight path, because when we go to war against our Creator, surely we know that our Creator will win EVERY time.

If your are looking for a way to develop an effective financial plan whether it be eliminating debt, budgeting, building wealth, investing or anything finance related, please feel free to shoot me an email at sdawda@truefinancialcoaches.com or check out my website at www.truefinancialcoaches.com.

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