Debt Management

We should always pay attention to the advice from the Quran and Hadith to live a good and proper life in this world. Allah SWT says in Surah Al-Baqarah, verse 188: “And do not consume one another’s wealth unjustly or send it [in bribery] to the rulers in order that [they might aid] you [to] consume a portion of the wealth of the people in sin, while you know [it is unlawful].”

In a Hadith narrated by Abu Hurairah, the Prophet Muhammad SAW said: “You will not believe until your desires follow what I have brought.” (HR. Ahmad and Tirmidhi).

From these verses and Hadith, we understand that living simply and avoiding debt is highly recommended in Islam. We should keep track of our expenses and avoid unnecessary spending. We need to learn to save and manage our money wisely. Readmore