Allah, glory be to Him in the Highest, created man and jinn to worship Him. With the right intention, every action or transaction we carry out in our day to day lives can be considered ibadah (worship); including our daily monetary transactions with other people and groups or organizations.

As human beings, our basic necessities are shelter, food, medical treatment, education, and fulfillment of spiritual and recreational needs.

A tradition of the Prophet, may peace and blessings be upon him, states that among the questions that will be asked of us on the Day of Judgement are two questions related to earnings: How did you earn money your livelihood and how did you spend your earnings? It implies the source of your earnings must be permissible according to Islam. 

We know that employment in jobs or businesses that are usury-based, related to gambling, lotteries or processing or serving of alcohol or pork products are not allowed in Islam.

Some may argue that it is challenging to get a job in the West which meets Islamic criteria.  But we have to remember Allah, glory be to Him in the Highest, has power over everything. We also know that when the earlier Muslims migrated to new countries they did not lose the aspects of their religion that made them distinct. Instead, they by their deeds and day-to-day transactions and dealings, changed society, causing people to accept Islam in droves. 

Allah states in the Quran, that He has created life and death to test who among us is best in action. If we strive and have faith in Him, sooner or later we will get a business or job which will give us  a pure living (halalan tayabh) from a source we are not  even able to imagine.

In Surah Kahf (the Chapter of the Cave) in the Quran, we learn how Allah used Prophet Moses and His servant Khidr, upon them both be peace, to conceal and thereby protect a treasure that had been buried for two young orphans.

According to Islam, in whatever we earn there is a portion for ourselves, our wives and children, our parents, relatives and the needy. If we fulfil the rights of all, Allah will bless our earnings and enable all our needs to be met.

If we spend money on food  that is not halal, we have to account for it. In dealing with food, the food items and the money used to pay for them must be halal. Remember, Allah, glory be to Him in the Highest, says eat and drink pure things.  Fortunately, in Toronto or Ottawa and other large cities, there are Islamic alternatives to big-name fast-food chains. We also have a lot of halal groceries and butchers. By buying from them, even if it is a bit expensive, we get doubly rewarded for supporting Muslim businesses and for complying with the Divine injunction to eat pure things.

As for shelter, there are various Islamic financing options available in Canada that allow one to get around the issue of mortgages. It is not permissible for one to buy a very luxurious house using interest-based financing.

Regarding recreation, the average person has two to four hours of free time daily.  We need to ensure that this time is used for Islamically permissible recreational activities or to spend quality time with family. People turn to the media, whether it's television or the Internet because apart from trying to learn or research something or communicating by e-mail, they're bored.

This is why family time at least once a week is important. Whether it's taking everyone out for ice cream on Friday night, going to the mosque as a family on Sundays for classes or playing a board game together, keeping the kids entertained the right way, together as a family, will reduce boredom and the need to turn to TV and the Internet to have fun.

Credit cards are almost a necessity in the West. We’re asked for credit cards when we travel or want to rent a motel or hotel or even a car. Some scholars say, we should opt for pre-paid credit cards. And if these are not available, then we must pay our dues by the prescribed time to avoid paying  interest. Remember, in Islam, one of worst calamities is debt, especially if one has no means to pay the debt back.

Islam cautions against opulence and extravagance. In fact, we are taught that there is great reward in giving in charity. Think of Abu Bakr, the first caliph, may Allah have Mercy on him. In response to the call of the Prophet, may peace and blessings be upon him, he donated all of his wealth and every item in his house.

So if we have money to spare, we should spend a portion of it in charity.  And if we have free time,  even one hour in a week, let us spend it productively by learning new skills or volunteering for the community.

Tips on managing your time and money:

·         Live within your means

·         Do not be extravagant

·         Use pre-paid credit cards or if using a regular credit card, pay your bills before they are collect interest

·         If buying a house, explore the variety of the Islamic financing options now available

·         Avoid fast food outlets and major food chain stores. Support your local Muslim-owned butcheries and grocery stores instead.

·         Put the computer and the TV in a central location so the entire family can share permissible entertainment together

·         Guard your free time and spend it in learning productive skills or volunteering

·         Spend a portion of your savings  in charity