HOME ECONOMICS

Signs of Bad Money Management

1) Running out of cash
2) Delay in payment of dues
3) Frequent borrowings from family members & friends.

Tips for Effective Home Economics

Unlike salaried people who know exactly how much their
income is, businessmen cannot have a exact figure but
most of them can make a fair estimate. As far as
question of home economics is concerned, irrespective
of size of income and its source, everybody specially
home makers should know how to manage cash effectively
at home. Following are some simple tips that everybody
will find useful. Kalemat Nooraniya of our beloved
Aqua Moula TUS and simple rules of economics provided
guidance in writing these tips.

1) Keep an eye on cash balance.
2) Make monthly budget.
3) Prudent practice is to keep limit of expenses /
payments upto 75% to 80% of income. Once the limit is
crossed, you enter the danger zone.
4) Take help from budget sheets to keep a track on
spending.
5) Recognize priority payments. Don’t make unnecessary
expenses as long as priority payments are unsettled.
6) Avoid over-spending. Set your limits before going
out for shopping to avoid temptation. A shopping list
can help in preventing you from buying things not
required.
7) Even little but save every month.
8) Set aside a reasonable amount for emergency
situations.
9) Pay all your dues (Utility bills like phone,
electricity, water etc., Grocer’s bill, School fees,
Loan installments, Rent, Subscriptions, Sabil etc.)
on time. It helps in many ways. . It will give you
peace of mind, enhance your image, avoid penalty for
delays, save efforts for restoration of services and
so on.
10) Plan for special occasions like holiday, birthday,
festival, travel (for Ashara, Zikra,milad…) etc. in
advance.
11) Make monthly provisions for once a year payments
like Wajebat.
12) Don’t borrow unless you have no other choice but
never on interest. Borrowings for not so necessary
things should be completely avoided. Repay on time.


Equally Important Tips

13) Don’t be a miser either. Spend as per your income
and maintain a good standard of living. Spend on
yourself and on your family. Maintain a good house.
14) Always wear new PAGRI and new SHOES. Don’t use
clothes too long. Give it to the needy and make new
for yourself.
15) Help your relatives who are not so fortunate.
16) Share your fortune with poors and orphans. Make
charity a habit.
17) If possible, give Qarzan Hasanah to momineen
brothers. It has numerous advantages and also its a
nice way of doing social/community service. After all
we owe a lot to the community we belong.
18) Zakat is must even if you have to borrow money to
pay it.
19) Haj is must for all those who can afford its
expenses. If you are one of them, go for it as early
as possible and don’t wait for the old age. Make sure
you perform it before you die and nobody knows how
long you will live.
20) Last but not least, spend in the khidmat of Dawat
and Dai-e-zaman TUS.


The list is not exhaustive. Suggestions are welcome to
complete it. I shall be grateful if mistakes, if any,
are pointed out.