4 Massive Money Mistakes Muslims Make

Are you making one of these money mistakes?

We’re in the midst of another cost of living crisis. These crises seem never-ending - it feels like we’ve been living with ‘austerity’ (or whatever the new buzzword is these days) for decades.

Many experts are even predicting another crash is imminent.

Whatever the case may be, Muslims are still not as economically empowered as we ought to be, especially given the sheer numbers we have. There may be many external reasons, colonisation, division, lack of education - but that is not the scope of this article. We can dive into that another day.

But what I want to look at briefly is individual and collective mistakes we may be making, just in terms of our money mindset.

Mistake 1: We confuse money with rizq.

Rizq is unpredictable.

Sometimes, it comes through unknown sources and in varying forms too. Wealth, health, our children, our skills and even things like greying hair is considered Rizq from Allah (I’d be a multi-millionaire in that case!).

Some scholars translate Rizq as ‘sustenance’, ‘provision’ and some call it ‘blessings’. It can also be seen as something that brings benefit or that which repels harm.

With that in mind, it is quite difficult to encapsulate the meaning of Rizq in a single translation because Rizq incorporates sustenance, provision, blessings and more.

Think about all the blessings in your life that you are grateful to Allah for that are NOT money?

Write them down.

These are all forms of rizq, too!

Who but He, the Most Beneficient gave them to you?

Here’s a great example:

We are all rich and we have rizq in so many ways.

But if we can do the right things with the rizq we have been given that can better our own situations, and that of our family, the Ummah will also stand to benefit.

Mistake 2: We rely on our jobs for money

We know that everything comes from Allah. But do we act like it?

The entire purpose of our schooling tends to be ‘so we can get a good job.’ A good job meaning one that pays well (and has a few perks like healthcare and annual leave).

That same good job that pays well, then may require you to compromise your values, stay behind late and give up further freedom. But we comply because we’re afraid of losing our jobs (and taking a hit, financially).

We worry a lot about money but that is what Shaytan does to us.

“Satan threatens you with poverty and orders you to immorality, while Allah promises you forgiveness from Him and bounty. And Allah is all-Encompassing and Knowing.” Quran - 2:268

On the other hand, the word Rizq is mentioned 123 times in the Quran and most of those occurrences addresses how it all comes from Allah.

He is Ar-Razzaq (the provider) and it is He and He alone who determines what a person will obtain in this life. No-one else.

“Indeed, it is Allah who is the (continual) Provider, the firm possessor of strength.” - Quran 51:58)

“And indeed, it is Allah who is the best of providers.” Qur’an 22:58

The word ‘Razzaq’ is a hyperbolic word which signifies the sheer abundance of Rizq that Allah provides His creation with and how His Rizq reaches anybody and everybody it has been written for.

Mistake 3: We forget it’s already written and we panic and stress to acquire it

The concept of rizq is profound.

Even when you eat a piece of fruit, it was always written for you. From the moment it grew from a tree, it went through all these people and travelled all this way until it was in your hands. It was always meant to be yours. That’s deep.

It’s the same with money. No matter how difficult conditions get, understand that we must surrender to His will. If times are hard, this is the way it’s supposed to be right now, there is goodness in this struggle but trust in Him and your rizq will arrive, even from places you least expect.

What is destined for you will reach you, even if it is underneath two mountains. What is not destined, will not reach you, even if it is between your two lips! So let us place our trust in Allāh, for "Whoever relies upon Allāh - then He is sufficient for him" (65:3)

There is a famous hadith that reports on how every human shares the same initial stages of life - starting from being in the womb for 40 days, and then into a clot of blood for the same period, before phasing into a lump of flesh for also the same amount of time.

Afterwards, the hadith states that:

“Then (Allah) sends to it an angel who is tasked to breathe soul into it. (The angel) is then commanded to write down four matters: the writing of the (developing child’s) rizq (sustenance), his life span, his actions, and whether he will be truly happy or miserable”

(Sahih Bukhari & Muslim)

Your Rizq was already written for you. Relax.

Mistake 4: We don’t take action, and expect it to fall in our laps

Allah has blessed each and every one of us with a great deal.

Allah has commanded for every one of us to put in the right effort in search of provision despite it being pre-determined for everyone.

The Prophet (SAW) mentioned in a hadith:

“If you were to rely upon Allah with the reliance He is due, you would be given provision like the birds. It goes forth hungry in the morning and returns with a full belly at dusk.” (Sunan At-Tirmidhi)

We need to be aware of the intricate relationship between faith and effort in the concept of finding Rizq.

Limiting it to only faith that provision will come with no effort is insufficient. However, doing the opposite by making the necessary effort without acknowledging reliance on Allah, is also misguided and will lead you to an undesirable result. You need a balance.

Imagine a cab driver. If the driver only prays for a customer and waits, he might not see the potential customer who is standing just around the corner. On the other hand, if the driver goes for many rounds in the city and does not rely on Allah, he is missing out on The One who provides and gives, therefore deluding his achievements or failure merely due to his own efforts.

A really good line I came across recently that encapsulates this in a nutshell:

"If you asked God to move a mountain, be prepared to wake up the next morning next to a shovel."

I thought that was deep.

We do dua to Allah for change to happen in our life, and expect miracles to occur overnight.

What a dua getting answered actually looks like is you having an idea or insight, or increased determination, more energy, a better strategy or overcoming an obstacle that was previously holding you back.

Whatever the change you are seeking, YOU HAVE TO DO THE WORK.

True transformation will not magically come to you. The process of the work brings about the transformation.

So, which of these money mistakes are you making?